These figures assume you own your home outright and receive a part Age Pension. The balances below are what you'd need at each age to reach $630,000 by 67, on an income of around $65,000 that keeps pace with inflation.
| Your age | Balance to be on track |
|---|---|
| 30 | $66,500 |
| 40 | $168,000 |
| 50 | $296,000 |
| 55 | $377,000 |
| 60 | $469,000 |
| 65 | $571,000 |
If you're behind
- Salary sacrifice or personal deductible contributions, up to the $32,500 concessional cap including employer contributions.
- Unused caps from previous years, if your balance is under $500,000.
- After-tax contributions up to $130,000 a year.
- Checking fees and investment option. Underperforming by 1% a year can cost tens of thousands by retirement.
Where people get caught out
- Comparing with averages instead of the lifestyle they want.
- Forgetting their partner. For couples, the combined position matters.
- Leaving it until their 60s, when caps limit how much can go in.
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