You’re really asking two things: what’s “typical” at 60, and what might be enough for the lifestyle you want in retirement (usually 67+ in Australia). The numbers below are ballpark guides only, not personal advice, and assume you’re in the Australian super system.

Quick Scoop

  • A commonly quoted guide suggests a “target” super balance of around $450k–$500k at 60 if you’re aiming for a comfortable retirement in your late 60s as a homeowner.
  • Average super balances around early 60s sit closer to $250k–$400k , depending on the data source and gender, so many people have less than the “ideal” benchmarks.
  • What you should have at 60 depends heavily on:
    • Whether you own your home
    • If you’re single or in a couple
    • When you actually want to stop work
    • How much Age Pension you’ll get
    • Your desired annual spending (modest vs higher lifestyle)

Benchmark numbers at 60

Here’s a simple way to think about “how much super should I have at 60” if you want options in your mid‑to‑late 60s.

  • Indicative “on track” balance at 60 (generic guide)
    • Around $460k–$470k is often used as a benchmark “on track” balance at age 60 for someone targeting a comfortable retirement by about 67.
  • Rough “comfortable” targets when retiring a bit later (around 65–67, homeowner)
    • Single: total super of about $430k–$600k is commonly cited as enough for a comfortable or medium–high spending retirement when combined with Age Pension, depending on the methodology.
* Couple: total combined super around **$500k–$700k** is often quoted for a comfortable lifestyle as homeowners.
  • If you want to fully retire around 60
    • Some modelling suggests:
      • Single retiring at 60 may need around $500k+ in super for about $50k+ per year of income, assuming home ownership and a long retirement.
  * Couple might need around **$650k–$700k** combined for roughly **$70k+** per year.

These are guides , not hard rules. Investment returns, fees, inflation, tax settings, and health all shift what’s “enough”.

How your super compares to others at 60

Knowing what others have isn’t a target, but it helps you see if you’re roughly behind, around, or ahead of the pack.

  • Different datasets (APRA, ATO, ASFA, funds) give slightly different averages, but they consistently show:
    • Average balance for 60–64 often lands in the mid‑$200k to high‑$300k range, with men higher and women lower.
* Median balances are lower than averages (because a small group has very large balances), which means many people are well below the “ideal” benchmarks.
  • Big gender gap: women usually have substantially less super than men by 60 due to lower lifetime earnings and time out of the workforce.

So if you’re 60 with $250k , you’re roughly around the broad averages; with $450k–$500k+ , you’re typically above average and closer to many “comfortable” benchmarks.

How to judge if your balance is enough

“Enough” is personal. Use these questions as a quick checklist.

  1. What lifestyle do you want?
    • Modest, largely Age‑Pension-backed lifestyle (simple holidays, older car, careful spending).
    • Comfortable lifestyle (regular holidays, more dining out, more flexibility).
    • High‑spend lifestyle (frequent travel, big hobbies, expensive cars, etc.).
  2. Do you own your home outright?
    • Homeowners need less super than renters to enjoy the same lifestyle, because rent can be a large ongoing cost.
  1. Will you get the Age Pension?
    • If you will qualify for a full or part Age Pension, you generally don’t need as much super; your super acts as a top‑up.
 * If you’ll be self‑funded (too much wealth for the Age Pension), you need more super to generate your desired income.
  1. When will you actually stop working?
    • Working part time into your 60s can dramatically reduce the super you need, because:
      • You delay drawing down your super.
      • You give your investments more time to grow.
  2. Do you have other assets or debts?
    • Investment property, shares, savings, and outstanding mortgage or other debts all change the equation.

Practical steps at 60 if you feel behind

Even at 60, there are realistic moves that can meaningfully improve your retirement position.

  • Get a clear picture
    • Add up:
      • All super balances
      • Other investments and savings
      • Remaining debts
    • Check your fund’s retirement/projector calculator to see what income your current balance might support at 65–70.
  • Increase contributions (if affordable and rules allow)
    • Consider:
      • Salary sacrifice (pre‑tax) up to concessional caps.
      • Personal deductible contributions if you’re eligible.
      • After‑tax (non‑concessional) contributions if you’ve sold assets or downsized (subject to caps and advice).
  • Tweak your retirement timing or pattern
    • Possible ideas:
      • Work an extra 2–5 years, even part‑time.
      • Transition to retirement strategies if suitable (using a TTR pension while still working).
  • Review investments and fees
    • Check:
      • Your super investment option matches your risk tolerance and time horizon.
      • Fees are not unnecessarily high for the service/returns you’re getting.
  • Get personalised advice
    • A licensed financial adviser or your super fund’s advice service can:
      • Tailor the numbers to your exact situation.
      • Help with contribution strategy, investment mix, and Age Pension planning.

Bottom line

  • Many planners and industry guides suggest being somewhere around the mid‑$400k to $500k+ range at 60 if you want a comfortable, flexible retirement in your later 60s as a homeowner.
  • Average Australians often have less than that , so being below those benchmarks does not mean you’ve “failed”, but it may mean you need to adjust some combination of spending, saving, investing, or retirement age.

Information gathered from public forums or data available on the internet and portrayed here.