65, How Much Super Should I Have
65 for Australian property investors. Part of the How Much Super Should I Have hub on Shelby Limited, AI strategy, calculators and expert matching.
At 65, the average Australian super balance is about $390,000 and the median is $248,000. To stay on track for ASFA's comfortable single retirement of $595,000 by 67, aim for roughly $508K. From an average balance, about $5,410 a month extra closes the gap.
Will an average balance at 65 be enough by 67?
Starting from the average $390,000 at 65, with $10,800 a year of Super Guarantee on a $90,000 salary and 6.5% net returns, the projection is $461,000 at 67. That is $134,000 short of ASFA's comfortable single target, which an extra $5,410 a month over the next 2 years would close.
Super milestones from age 65
- You passed preservation age 5 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
- 2 years until Age Pension age (67), the age ASFA's comfortable benchmark is measured against.
- You are eligible for the downsizer contribution of up to $300,000 per person if you sell a home you have owned for 10 years or more.
- Voluntary contributions generally stop at 75, leaving 10 years of contribution runway.
What $1,000 contributed at 65 is worth later
With 2 years to age 67, every $1,000 added to super at 65 grows to roughly $1,134 at 6.5% net returns. Concessional contributions are taxed at 15% going in, versus your marginal rate outside super, which is why salary sacrifice at 65 is mainly a tax play now.
Frequently asked questions
What is the median super balance at 65 in Australia?
The median super balance at 65 is about $248,000, lower than the $390,000 average because a few large balances lift the mean. Median is the fairer comparison for most people.
How many years until I can access my super if I am 65?
You passed preservation age 5 years ago, so retirement or a transition-to-retirement income stream unlocks your balance.
How much extra should I put into super at 65?
From an average balance at 65, about $5,410 a month on top of the Super Guarantee would reach $595,000 by 67 at 6.5% net returns. Stay within the $30,000 concessional cap.