By the time you reach 40, retirement may still feel like a distant concept — something for your future self to worry about.
But make no mistake: the foundations you are laying now can shape the financial freedom you will enjoy (or not enjoy) later in life.
So, how are Australians tracking at this age? And what kind of super balance might you need if you're aiming for more than just the basics in retirement?
Let's take a look at the data.
The average superannuation balance at age 40
There's no exact figure for 40-year-olds, but we can get an idea of what it would be by looking at nearby age brackets.
According to figures from Rest Super, the average superannuation balances are $71,686 for women aged 35-39 and $102,227 for women aged 40-44.
For men, the average balances are $90,822 at age 35-39 and $131,792 for those aged 40–44.
This suggests that the typical 40-year-old woman likely has around $87,000 and the typical man would have a balance of $111,000. These aren't firm numbers — but they give us a ballpark figure to work with.
The bigger question is: where could these balances grow to by retirement?
How much super could you have by age 67?
The magic of compounding means time is your most valuable asset — and at age 40, you still have plenty of it before retirement.
Using the Moneysmart calculator and assuming a $90,000 salary and a 12% employer contribution, a 40-year-old woman could see her superannuation balance grow from $87,000 to $501,000 by the age of 67.
Whereas a 40-year-old man could see his superannuation balance increase from $111,000 to $546,000 by pension age.
This assumes no additional contributions and an average investment return of 7.5% per annum.
Is this enough?
According to the Association of Superannuation Funds of Australia (ASFA), a single person requires $595,000 and a couple requires $690,000 for a comfortable retirement
This means that our typical Australian singles above are a touch short of target. Whereas the average couple would be comfortably ahead of requirements.
What does a comfortable retirement really mean?
According to AFSA, a comfortable retirement enables you to enjoy the little luxuries in life. That includes things like private health insurance, home improvements, hobbies, a reliable car, and the ability to eat out and take the occasional holiday.
In other words, it is about more than just scraping by. It is about maintaining your lifestyle — and staying connected to the people and experiences that matter.
If you're not there yet, don't panic
Plenty of 40-year-olds have lower-than-average balances. Life has its detours — parental leave, career changes, study breaks — and not everyone contributes consistently from a young age.
But with 27 years ahead of you, small actions today can lead to outsized results. You could consider making additional voluntary contributions, reviewing your super fund's performance and fees, and consolidating multiple super accounts to avoid unnecessary charges.
Every step counts — especially when you've still got time on your side.
Foolish takeaway
40 years old might not feel like a superannuation milestone, but it is arguably a pivotal moment. You're likely entering your peak earning years, with enough time to build serious momentum.
Knowing how you compare to the average is useful — but what really matters is where you're headed. With consistent contributions, a strong-performing fund, and a long-term mindset, you can set yourself up for a retirement that's not just comfortable — but confident.
