Net worth at 70 in Australia: the quick answer
| Metric (2026) | Figure |
|---|---|
| Median net worth, households aged 65 to 74 | ~$1.46 million |
| Average net worth, 70-year-old couple (homeowner) | $1.4 to $1.8 million |
| Median net worth, households aged 55 to 64 (wealth peak) | ~$1.57 million |
| Median net worth, households aged 75+ | ~$1.14 million |
| Share of net worth held in the family home | ~65 to 70 per cent |
| Non-homeowner couple average net worth at 70 | $300,000 to $500,000 |
Sources: ABS Survey of Income and Housing 2019-20 indexed to 2026 values; ABS Australian National Accounts: Finance and Wealth (December 2025); Grattan Institute wealth analysis 2025.
The most important takeaway from those numbers: wealth in Australia peaks in the 55 to 64 age band and gradually reduces from there as retirees draw on their super and savings. By 75, median net worth has typically fallen from the peak by around $400,000 to $500,000 as the drawdown pattern takes effect.
If you want to understand how the three-pillar retirement income system actually works and how each of those assets contributes to your retirement income, our guide to How Retirement Works in Australia covers the framework.
What does “net worth” actually mean?
Net worth is simple: everything you own minus everything you owe.
At 70, most Australian couples have paid off their mortgage. That means the debt side of the ledger is often close to zero, which makes net worth at this age heavily weighted toward assets. For most couples, those assets break down roughly like this:
- Family home: $800,000 to $1.3 million depending on location
- Superannuation: $450,000 to $650,000 combined
- Savings, investments, and shares: $100,000 to $300,000
- Other assets: vehicles, collectibles, contents: $50,000 to $100,000
These are broad ranges. Your specific situation depends on where you live, your career history, whether you have owned investment properties, and how actively you have managed your super over the working years.
Median vs average: which number is the better benchmark?
One of the most common questions on this topic is why the numbers vary so much between sources. The answer is the difference between median and mean (average).
The median is the midpoint. If you lined up every 70-year-old couple in Australia by net worth, the median couple would be the one exactly in the middle. Half sit above, half sit below. This is the number that best represents a “typical” couple.
The average (mean) adds everyone up and divides by the total. It gets pulled upward by very wealthy couples with net worth in the tens or hundreds of millions. This makes the average significantly higher than the median.
For 65 to 74 year old Australian households, the current figures are approximately:
- Median net worth: $1.46 million
- Average net worth: $1.66 million to $2.1 million (depending on the source and how couples are separated from all households)
The median is generally the better benchmark to check yourself against. If your net worth is above the median for your age, you are in the top half of your peers.
Average net worth by age in Australia (2026)
To put the 70-year-old figures in context, here is how net worth typically builds and reduces across different life stages. These figures come from ABS Survey of Income and Housing data indexed to 2026 values.
| Age group | Median net worth | What’s driving it |
|---|---|---|
| 25 to 34 | ~$277,000 | Early savings, building a deposit |
| 35 to 44 | ~$631,000 | Mortgage equity growing, super building |
| 45 to 54 | ~$1.26 million | Peak earning years, super accelerating |
| 55 to 64 | ~$1.57 million (peak) | Mortgage often paid off, super near peak |
| 65 to 74 | ~$1.46 million | Super drawdown begins, property still dominant |
| 75 and over | ~$1.14 million | Gradual drawdown, estate planning in focus |
Sources: ABS Survey of Income and Housing 2019-20 indexed to 2026 values.
Wealth in Australia peaks between 55 and 64, then gradually reduces as retirees draw on super and savings. By 70, property still makes up the largest slice of net worth for homeowners, which is why the retirement experience of homeowners and renters can feel so different.
Homeowners vs renters: the biggest gap in Australian retirement
Home ownership is one of the biggest factors separating retirement experiences in Australia. ABS data consistently shows the gap is significant.
- Homeowning couples aged 70 and over: typically $1.4 million or above in net worth
- Renting couples of the same age: typically $300,000 to $500,000
Owning your home does two things at once. It boosts your net worth on paper, and it dramatically reduces your weekly living costs. A couple who owns their home outright does not need their super to stretch as far as a couple paying rent in retirement. That changes everything about how long the money lasts.
For a detailed breakdown of what retirement actually costs across housing, healthcare, energy, and other categories, see our guide to The Biggest Expenses in Retirement.
How much super does the average 70-year-old couple have?
Super is usually the second-largest asset after the family home. By age 70, many couples are already drawing from their super through an account-based pension, which provides regular income while keeping the remaining balance invested.
Based on APRA and ABS data, average super balances at age 70 are approximately:
- Men: $280,000 to $350,000
- Women: $210,000 to $260,000
- Combined for couples: $450,000 to $650,000
A couple with $600,000 combined in super plus an owned home is generally in a solid position for retirement, particularly once the Age Pension supplements from 67. For a detailed look at what $600K in super can support at retirement age, see our post on Can I Retire at 62 with $600K Super? which breaks down the numbers year by year and shows how the Age Pension layers in from 67.
Scott and Phil worked through what these super balance averages actually mean for retirement funding in Episode 19 of the Wealthlab Podcast:
Their finding: the average Australian retires with less than the ASFA comfortable standard suggests, but that gap can often be bridged with the right planning and Age Pension eligibility.
Scott also talked about the psychology of money and net worth in Episode 8, including one point worth remembering at this life stage: “Your biggest financial risk right now is not the stock market. It’s not interest rates. It’s your psychology. The goal isn’t to die with the largest super balance possible. The goal is to convert capital into confident living.”
What does “comfortable” actually cost at 70?
The ASFA Retirement Standard (spending figures updated quarterly, lump sums updated February 2026) estimates retirement spending at:
| Lifestyle | Single (annual) | Couple (annual) |
|---|---|---|
| Comfortable | $54,840 | $77,375 |
| Modest | $35,503 | $51,299 |
Source: ASFA Retirement Standard, December 2025 quarter (updated February 2026).
Comfortable covers regular domestic and occasional international travel, private health insurance, dining out, car replacement, and household costs. Modest covers the basics but leaves less room for travel and extras.
To generate the comfortable standard sustainably, ASFA suggests lump sum balances at retirement of $630,000 for singles and $730,000 for couples at age 67. Most 70-year-old homeowning couples sit within or above this range once the family home is included in the total picture, which means many retirees are in a better position than they realise.
If you want to check how your own numbers stack up, the free Wealthlab super calculator gives you a quick read on where your retirement position sits today.
How the Age Pension changes the equation
The Age Pension is not an asset, so it does not add to your net worth figure. But it dramatically reduces how hard your own savings need to work.
As of 20 March 2026, the full Age Pension pays:
- $1,200.90 per fortnight ($31,223 per year) for singles
- $1,810.40 per fortnight ($47,070 per year) for couples combined
Full pension assets thresholds (from 20 March 2026):
- Single homeowner: $321,500
- Couple homeowner combined: $481,500
Source: Services Australia. These figures are set by the Australian Government and are updated each March and September.
Even a part Age Pension makes a meaningful difference. A couple receiving half the pension gets an extra $23,000 to $24,000 a year without touching their super. That is why net worth alone does not tell the full retirement story. The structure of your income matters as much as the total figure.
For more on how eligibility works, see our pension and Centrelink page. Phil and Dan walked through real Age Pension case studies in Episode 10 of the podcast, and Scott and Phil covered commonly missed Age Pension opportunities in Episode 20.
What if your net worth is below the average?
Averages are useful benchmarks, but they are not targets. Plenty of Australians retire comfortably on less, particularly if they:
- Own their home outright (which removes housing costs from the equation)
- Are eligible for a full or part Age Pension
- Have relatively modest spending needs
- Have structured their super drawdown efficiently
What tends to matter more than the total figure is whether your assets are generating reliable income, whether you understand the Age Pension rules that apply to you, and whether your money is set up to last as long as you do.
If your net worth is above average but poorly structured, you can still run into trouble. A couple sitting below the average but with a clear plan can retire with more confidence than a couple above the average without one.
What if you are still building wealth at 70?
Not everyone arrives at 70 with their financial picture fully settled. Some couples are still carrying a mortgage, still working part-time, or looking at ways to boost their position. A few strategies worth understanding at this stage.
Downsizer contributions. If you are 55 or over and sell a home you have owned for at least 10 years, you can contribute up to $300,000 each (or $600,000 as a couple) into super from the sale proceeds, outside the normal contribution caps. This can significantly boost your super balance if you are planning to downsize. Scott and Phil covered the traps to watch for in Episode 2 of the Wealthlab Podcast, including the 90-day deadline and how converting an exempt asset (the family home) into an assessable one (cash) affects Age Pension eligibility.
Account-based pension. Keeping your super in an account-based pension rather than drawing it as a lump sum keeps it invested and growing, while providing regular tax-free income after age 60. Investment earnings inside a retirement phase pension are tax-free, up to the $2.1 million Transfer Balance Cap from 1 July 2026.
Estate planning. For couples in their 70s, it is worth thinking about how your assets will pass to your partner and adult children. Super death benefits are treated differently depending on who receives them, and getting your binding nominations and estate plan right matters more than most people realise. Scott and Phil covered the key traps in Episode 12 of the podcast. Our guide to Estate Planner or Financial Adviser for Retirement covers when to bring in specialist advice on this.
Aged care planning. The final 24 months of life can consume a significant portion of lifetime healthcare spending, and residential aged care is often the single largest expense any Australian faces. Having a plan avoids rushed decisions later.
If you want to look at whether the pension access age might change again, or how recent policy changes affect your plan, our post on Pension Access Age Changes in Australia walks through the current state of the debate.
Frequently asked questions
What is the average net worth of a 70-year-old couple in Australia in 2026?
The median net worth for households aged 65 to 74 in Australia in 2026 is approximately $1.46 million, based on ABS Survey of Income and Housing data indexed to current values. For couples specifically, average net worth typically sits between $1.4 million and $1.8 million. This includes the family home, superannuation, and savings. Homeowners sit at the higher end; renters considerably lower.
Does the family home count as part of net worth?
Yes. Net worth includes all assets minus all debts, so your home’s value counts. For most 70-year-old Australian couples, the family home is the single largest asset and makes up 65 to 70 per cent of their net worth.
How much super does the average 70-year-old couple have?
Combined super balances for couples around age 70 are typically $450,000 to $650,000. Men generally have higher individual balances than women due to career patterns and the historical super gap. Many couples at this age are drawing from their super through an account-based pension.
Is $1.5 million a good net worth at 70?
For most Australian couples, $1.5 million in net worth including an owned home is close to the median for the 65 to 74 age band. Combined with a part or full Age Pension, it can support a comfortable retirement lifestyle as defined by ASFA’s standards. Your specific outcome depends on your spending, health, and how your assets are structured.
Can renters retire comfortably with less net worth?
Yes, but it takes more careful planning. Renters carry ongoing housing costs that homeowners do not, so they generally need higher super balances or investment income to cover the gap. The Age Pension assets test also treats renters differently, with higher asset thresholds ($579,500 for singles at March 2026) for non-homeowners.
Does net worth keep growing after 65 in retirement?
For many couples, net worth holds relatively steady in the early years of retirement as investment returns offset drawdowns. It tends to decline gradually from the mid-70s onwards as healthcare costs rise and super drawdowns accelerate. Property values in most parts of Australia have historically continued to grow, which can offset some of that decline for homeowners.
What is the difference between average and median net worth?
The average (mean) is pulled upward by very wealthy households. The median is the midpoint where half of Australians sit above and half sit below. The median is generally a more realistic benchmark for most people. For households aged 65 to 74 in 2026, the median is around $1.46 million; the average is higher because of very wealthy outliers.
How does the cost of living affect retirement net worth in Australia?
Rising costs for healthcare, utilities, and groceries gradually erode purchasing power in retirement. A couple whose net worth is heavily concentrated in their home but has limited liquid assets may find their day-to-day spending constrained even though their net worth figure looks healthy. What matters is the balance between assets you live in and assets that generate income.
How does the Age Pension interact with net worth for the assets test?
The family home is exempt from the Age Pension assets test regardless of its value. Everything else counts (super in pension phase, investments, savings, vehicles, contents). For homeowner couples at March 2026, the full pension threshold is $481,500 in combined assessable assets, with the pension reducing by $3 per fortnight per $1,000 above that. The part pension cut-off is around $1.085 million for homeowner couples.
What percentage of Australian couples have $1 million or more at 70?
Based on ABS indexed data, approximately 60 to 70 per cent of homeowner couples aged 65 to 74 have net worth above $1 million (including the family home). The figure drops significantly for renters and single retirees.
Your next step
Knowing the average is a useful starting point, but it does not tell you whether your specific setup, your super structure, Age Pension eligibility, spending habits, and estate plan ,is working as efficiently as it could.
Many couples we speak with at Wealthlab are surprised to find they are in a stronger position than they thought. Others have good total wealth but are drawing it down inefficiently, or missing Age Pension entitlements they are actually eligible for.
If any of this has raised questions about your own situation, book a free chat with the Wealthlab team. No pressure, no jargon.
