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How much super should I have is a common question. But when it comes to how much super (or other savings) you’ll need for retirement there’s no single right number - because everyone’s retirement looks different. It depends what your big costs are likely to be, and what sort of lifestyle you want.
No matter what you want your retirement to look like though, here are some steps that will help you work out how much you need and if you're on track.
To get an idea of how much you might spend in retirement, you can check the following:
Both ASFA and Super Consumers Australia also estimate the amount you should be aiming to have in your super account (or saved somewhere else) when you retire, to support your retirement spending.
What's a ‘comfortable’ retirement?
A comfortable retirement, according to ASFA, is about more than covering the basics. It means you enjoy a good standard of living and have money for:
ASFA suggests what your super balance should be at age 67 for either a modest or comfortable retirement. It takes into account Age Pension, where applicable, and assumes you own your home outright unless noted.
| Estimate | Savings at age 67 (single person) |
|---|---|
| Comfortable retirement | $595,000 |
| Modest retirement | $100,000 |
| Modest retirement if renting | $340,000 |
Source: ASFA’s Retirement Standard, accessed October 2025. You can read all the calculation assumptions on ASFA’s website.
Super Consumers Australia estimates your savings target at age 65. It takes into account the Age Pension, where applicable, and assumes you own your home outright.
| Estimate | Savings at age 65 (single person) |
|---|---|
| Low spending | $75,000 |
| Medium spending | $310,000 |
| High spending | $876,000 |
Source: Super Consumers Australia, accessed October 2025. You can read all the calculation assumptions on the SCA website
It’s important to say that these amounts are guides, not strict targets, as everyone’s situation is different.
How do real superannuation balances compare to the estimates above? The Australian Prudential Regulation Authority (APRA) tracks average super balances across age groups.
| Age group (years) | Average balance |
|---|---|
| 30-34 | $50,400 |
| 35-39 | $80,000 |
| 40-44 | $112,500 |
| 45-49 | $114,400 |
| 50-54 | $181,400 |
| 55-59 | $223,900 |
| 60-64 | $252,700 |
Source: APRA Quarterly Superannuation Statistics, June 2025
These are averages only. Some people will have more, others less. How does your super balance compare to your age group above?
Make a note to check your super at least once a year. Here's a list of things to keep an eye on. If you don’t understand any details about your super account, call your super fund and ask questions.
Planning for your retirement can be complex. Think about getting personalised advice from us can help you plan ahead.
Knowing how much super you need to retire, how your balance compares to others your age, and whether you're on track for the retirement you want, is an important first part of planning your future.
Ready to plan?
Now you know what you're aiming for, use the Moneysmart retirement planner to estimate:
You can also use the planner to test out different scenarios and work out how to grow your super.
Contact us to see how we can help develop a wealth creation strategy to suit your goals and plans. If you have any questions or your personal circumstances have changed please do not hesitate to contact your financial adviser.
General Advice Warning - Any advice included in this article has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, you should consider whether it's appropriate to you, in light of your objectives, financial situation or needs.
