These averages are well up (by around 20 per cent) on the balances of $82,615 for men and $44,866 for women in 2011/2012. So if you’re currently aged 40-44, your peers have an average balance of just over $80,000. With your consent, ANZ can search and find other super accounts in your name and Tax File Number. Age. The average balanced super portfolio has lost 10-12 per cent in the last month. 2 Association of Superannuation Funds of Australia, ASFA Retirement Standard, pg. The information provided is of a general nature and does not take into account your personal needs, financial circumstances or objectives. Make sure you have the right amount of cover to look after you or your family if you become unable to work, or in the event of your death. Consolidate your super funds
 So, here is the average retirement savings for those over 60. Generation X women are much further behind on their super . The average salary in Australia by age is as follows: Late teens (aged between 18 and 20years Assuming you’ve been in the workforce for a few months, years or even decades, your retirement savings will be growing nicely thanks to the Super … Age. It has been 27 years since the introduction of compulsory super and the average consolidated balance for singles approaching retirement (that is, those aged 60 to 64) exceeded $300,000 in 2016-17. Does your super stack up? According to the Economic Policy Institute, the median retirement savings balance for the typical working-age family is $5,000. 4. If your balance looks low, there could be a number of reasons why your super is lagging your peers, such as taking time out of the workforce to study, travel, raise children, care for older relatives, or being out of work, … If you’re a low or middle-income earner you could be eligible for a government co-contribution of up to $500 to help boost your super balance. The information provided is of a general nature and does not take into account your personal needs, financial circumstances or objectives. Remember, if you plan to leave a legacy to your children or have a holiday home, then you need to add the cost to this estimate. Another way of working out how much you might need in retirement is t… 30-34. The table and chart below show the annual calendar year performance of the median Growth fund over the 27 years since the introduction of compulsory super. Apple Pay and Touch ID are trademarks of Apple Inc. You need Adobe Reader to view PDF files. Average 401(k) Balance by Age Here are the average 401(k) balance by age range as of the second quarter of 2019, according to data released by Fidelity Investments.Ages 20-29 The average … Opinions expressed in this document are those of the authors only. But for many people, retirement is a long way off, and it can be hard to know if your super is on track. According to ASFA’s Retirement Standard, the super balances required for a comfortable retirement are: These figures assume you already fully own your home and are in good health. You calculate what you need and decided when you can afford to stop work and live off your Super. 35-39. The average super balance for Aussie women when they retire is around $115,000 less than the average for men. In addition to their salary, ANZ staff members may receive monetary or non-monetary benefits depending on the product they are selling or providing advice on. Are you on track for a comfortable retirement? If you don't see your other super accounts, email anzsmartchoice@anz.com and request a Super Match. Learn about how Sam Aldenton is paying attention to her super and saving for a house so she can have financial freedom. 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