How much super do I need?
This is one of the most common questions about super – and can be tricky to wrap your head around. How much you really need for your retirement isn’t just about the size of your super balance – it’s about what you want out of your future life. And that looks different for everyone.
In short, how much super you need depends on your lifestyle, when you want to retire, whether you’ll rent or own, and other factors. Thanks to the existence of super, most Australians can look forward to a comfortable retirement. For many, the biggest risk is ignoring super for too long. But if you’re already paying attention, you’re starting strong. The small steps you take along the way, combined with your lifestyle goals and timeframe, will dictate how much you’re going to need.
Defining ‘enough super’
Your retirement won’t look like anyone else’s, so how do we know what goals we need to be targeting? A helpful starting point is the ASFA Retirement Standard, which updates quarterly and translates ‘retirement lifestyle’ into yearly budgets and ballpark lump sums.
Here’s how ASFA defines super balance targets by the time you’re 67 as of June 2025.
These lump sums assume you’ll draw down your super over time and may become eligible for a pension or part pension as you get older.
These are not your only options. If you want to go hard and live a more deluxe future life (think regular travel, fine dining and tickets to sport or the theatre when you please), targeting higher balances may enable you to meet these goals and/or retire before you’re 67. This may require active management of your super – and we’re here to help with that.
How does the Age Pension work with superannuation?
The Age Pension is a government-funded safety net designed to ensure everyone has some income after retirement. As you can see (above), it’s not much to live on – so your super works alongside this to top up your post-retirement income. The Age Pension is means-tested and depends on your income, your assets and whether you’re single or in a couple.
Your super is treated as an asset alongside your property, so the more super you have, the less the government will provide. Factors like one partner retiring earlier, downsizing your house or relationship changes can also all affect how much Age Pension you can get.
You can get a visual picture of how super and Age Pension work together in Future Ready Check via the Future Super app.
How to work out how much super you need
It’s not always a million bucks, despite the ideas thrown around in the media. Unless you’re super lavish, it may relieve you to know that most people don’t get near that.
Follow our four-step process to work out how much you need to live the life you want.
Step 1: Picture future you
Close your eyes and fast-forward to your 60s. What’s making future you happy and comfortable? Staying out late dancing? Pottering in the garden? Pursuing hobbies and handicrafts? Skydiving? Gathering a big family around you for laughter and food?
However it looks for you, think about where ‘everyday you’ fits in the lifestyle target table above:
Modest: Essentials covered with a few treats here and there
Comfortable: Travel sometimes, dinners out, non-clunky tech, private health cover? That’s comfortable.
Luxe: A life of travel and high tech? You’ll likely aim higher than ASFA’s numbers.
ASFA’s page breaks down what each lifestyle actually includes, so you can sanity-check whether the categories match your plans. If you want to retire earlier than 67, you’ll need more, because your money will have to last longer.
Pro tip for the Number-curious – ASFA’s ‘Super Detective’ tool estimates how much super people typically have at different ages. It’s a useful sense-check.
Step 2: Start where you are
Don’t worry about where you ‘should be’ yet. Open your super account and note your balance, fees, and investment option. That’s your baseline.
Don’t compare to friends; compare to your lifestyle target.
Check contributions: from 1 July 2025, most employees get 12% Super Guarantee (SG) from their employer. Confirm it’s landing by looking at your transactions.
Understand your risk tolerance: Step 2 of Future Ready Check helps you understand your risk profile, Your super is invested – and investments take on risk and that can impact the growth of your balance over time. More growth comes with more risk, and vice versa, which is why Future Super offers a choice of five different investment options. Check out the basics in Getting Started with Super. Reach out to our team of coaches if you need an explainer.
Check your insurance: While you’re logged in, check whether you have insurance cover – and if so, what for and how much. Future Super offers insurance cover for Death, Death plus Total & Permanent Disablement, and Income Protection. Only paying for cover you need means more of your super is earning returns and growing your balance.
Step 3: Tweak your game plan
Wanna dive deeper to help get things really humming? Time for some simple maths.
How many years until you retire?
The Age Pension age is 67, and you have restricted access to your super from age 60, and unrestricted access at 65,. Optimising your super may help you retire earlier. Work out how many years you have left to grow your super. How long might you need your money to last?
Add a little extra if you can
Extra contributions help your balance grow. The longer it has to grow the better, but it’s never too late to start - they all make a big difference over time because of compounding. And even after you retire your money stays invested, so it keeps working for you.
Contributions can include:
Employer contributions
Personal contributions – from your own pocket
Salary sacrifice – from your pre-tax income, meaning you’re taxed less (if you don’t exceed the $30k/year cap).
Spouse or partner contributions
Step 4: Tool up
You’re already one step ahead by having Future Ready Check in the palm of your hand. If you’d like to test different calculations, jump back in and run it again.
Reach out to your built-in coaching team if you need human help. Like Future Ready Check, they can also help you to match your investments to your timeframe, and check your contributions match your goals.
Find and combine stray super using the Future Super app via the Find My Super function. You can also use myGov (or the ATO). Putting all your super in one account means you’re only paying one set of fees. You should consider the different fees and costs, amount of insurance cover offered and any other relevant information before deciding to combine your super.
How’s that all feeling?
'I think I’m behind'
You’re not alone, and it’s not too late to power up your super. Remember: every contribution buys you future freedom. You don’t need perfection; you need momentum.
Next steps
'Not too shabby'
Stress-test your plan with Future Ready Check in the Future Super app. Restart the tool and repeat the process using earlier retirement ages, market dips, or higher living costs to see if your plan still holds.
Next steps
'Pretty good, as it turns out '
Nice. Keep going! Remember to check in every six months or so, and fine-tune your investment mix as life changes.
Next steps
FAQs : How much super do I need?
What’s a good super balance by 30, 40, 50?
There’s no universal ‘right’ number. As a benchmark, ASFA’S ‘Super Detective’ tool shows typical balances by age and can help you gauge progress.
Do I need $595k (single) / $690k (couple) to retire?
Not necessarily. Those are ASFA’s comfortable targets at 67 assuming you draw down your super, are a mortgage-free homeowner and receive a part Age Pension. Your target could be higher or lower depending on your lifestyle, housing, retirement age and other assets or income.
Can I rely solely on the Age Pension?
Some people do, but it only supports the basics. The general aim is to have as much super as possible, to reach a lifestyle closer to modest or comfortable, with Age Pension as a backup safety net. Check eligibility and current rates with Services Australia.
How do I know if I should be in a growth or balanced option?
Match your option to your timeframe and risk comfort. Longer horizon = more time to ride out market swings, which is why many younger members tilt to growth. Closer to retirement, many reduce risk. Compare your Future Super investment options or reach out to our team of coaches – all included in your membership.
What if I can only add a tiny bit extra?
That still helps. Compounding loves consistency. Even small, regular amounts over years can close gaps faster than you think.
All information is general in nature and does not take account of your personal objectives, financial situation or needs. Consider speaking with a Future Super Coach or a financial adviser. Information is current as of November 2025.