Superannuation is one of the most powerful tools for building long-term wealth, but many individuals might be unsure if they’re “on track” with their balance. 

While everyone’s situation is different—depending on income, contributions, and lifestyle goals—there are some benchmarks that can help you check whether your super is growing at a healthy rate.

In Your 20s: Laying the Foundations

If you started working soon after school or university, your super is just beginning. By the time you reach 25, a balance of around $25,000 is considered a healthy benchmark. At this stage, the most important habit is consistency—ensuring your employer is making the correct contributions and considering extra voluntary contributions if you can. The power of compounding means even small amounts added now can have a big impact later.

In Your 30s: Building Momentum

By your mid-30s, you might have advanced in your career and enjoyed steady contributions for over a decade. A healthy balance by age 35 is often around $100,000. This is also the time to review your investment options within your super fund—higher growth investments may suit your longer time horizon, helping your balance compound further.

In Your 40s: Hitting Your Stride

Your 40s are typically strong earning years, and your super balance should reflect this. By 45, a balance of around $250,000 is a good indicator that you’re on track for retirement. If you’ve taken time out of the workforce—perhaps for family or study—it may be worth considering catch-up contributions to close any gaps.

In Your 50s: The Home Stretch

By 55, a healthy super balance is often upwards of $500,000. With retirement on the horizon, this is the time to review your strategy carefully. Transition-to-retirement strategies, salary sacrificing, or consolidating multiple super accounts can help boost your balance further while reducing fees.

In Your 60s: Ready for Retirement

When you’re approaching 65, a commonly cited target is around $600,000–$700,000 for a single person (or closer to $1 million for a couple) to enjoy a comfortable retirement. Of course, your individual circumstances—debts, lifestyle expectations, and other assets—will ultimately determine what’s “healthy” for you.

The Takeaway
Super is not “set and forget.” Checking your balance at each stage of life and making adjustments along the way can give you peace of mind that you’re heading towards a secure retirement.

If you’re unsure whether your super is on track, or would like to explore strategies to grow it further, speaking with your accountant or financial adviser can help you make the right decisions for your future.