Here's the Average Australian Super Balance at Age 45

For many Australians, the mid-40s are when retirement planning begins to move from the background into sharper focus. By this stage of life, people are often more established in their careers, mortgages may be shrinking, and superannuation balances should ideally be building momentum.

What is the average super balance at 45?

While there isn't a precise figure for Australians aged exactly 45, data from major super funds gives us an idea by looking at the closest age brackets.

●     For women aged 40–44, the average super balance is approximately $102,227. This rises to $136,667 for the 45–49 age group.

●     For men, the average balance is $131,792 between ages 40–44, increasing to $180,958 at 45–49.

From this data, it's reasonable to estimate that the typical 45-year-old Australian woman has around $120,000 in superannuation, while the average man at the same age has closer to $156,000.

What does this mean for retirement planning?

Knowing the averages is useful, but the more important question is whether these balances are on track to deliver a comfortable retirement. The good news is that at 45, there are still more than two decades until the pension age, which means plenty of time for contributions and compounding returns to work their magic.

Based on industry calculators, a 45-year-old with an average balance and salary is on track to retire with a balance of approximately $370,000 to $425,000.

According to the Association of Superannuation Funds of Australia (ASFA), a single retiree needs around $595,000 in super for a 'comfortable' lifestyle, while a couple needs about $690,000. Based on these figures, the average person may fall short of ASFA's target, but an average couple's combined balance would be ahead of the goal.

Key Takeaway

Whether you're above or below the averages, age 45 is a pivotal checkpoint. This is a great time to review whether your super fund is performing competitively, consider making extra contributions where possible, and ensure your investment option matches your risk tolerance and time horizon. Even small changes at this stage can make a big difference in the decades to come.

Source: Here's the average Australian superannuation balance at age 45

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The information on this website is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making an investment decision in relation to a financial product.