Here is the part the headline number hides: roughly two thirds of that wealth is the family home. The average 70-year-old couple is wealthier on paper than at any point in their lives, and many of them still feel stretched, because a paid-off house in the suburbs does not buy groceries. This guide breaks down where the wealth actually sits, how super balances compare at 70, what it all means for the Age Pension and whether the average is even the benchmark worth chasing.
The headline numbers
At 70, most Australian couples have cleared the mortgage, so the debt side of the ledger is close to zero and net worth is almost all assets. For a typical homeowning couple, the picture breaks down roughly like this:
| Asset | Typical range |
|---|---|
| Family home | $800,000 to $1.3 million depending on location |
| Superannuation (combined) | $400,000 to $950,000 |
| Savings, shares and other investments | $50,000 to $250,000 |
| Cars and contents | $30,000 to $60,000 |
Please note: All figures, ranges and scenarios in this article are approximate and for illustrative purposes only. Individual outcomes vary widely based on location, work history, home ownership and personal circumstances. This is general information, not personal advice.
The underlying data comes from the ABS Survey of Income and Housing, Australia’s official household wealth survey, indexed forward to 2026 values using the growth in national household wealth. For reference, the ABS reports average household wealth across all ages reached $1.584 million in 2024. Source: ABS household income and wealth. Current as at September 2026.
Why every source quotes a different number
Two reasons: median versus average, and the vintage of the data.
The median is the midpoint. Line up every 65-to-74 household by net worth and the median household is the one in the middle, at roughly $1.46 million. The average (mean) lands higher, because a small number of very wealthy households drag it up. A couple with a $12 million portfolio moves the average a lot and the median not at all. If you want to know what a typical couple holds, the median is the honest number. If a source quotes something north of $1.8 million for this age group, it is usually a mean being pulled up by the top end.
The vintage matters too. The last full ABS wealth survey was run in 2019-20, and every 2026 figure you see is that data indexed forward. Different publishers index differently, which is why the ranges wobble between sources.
Average super at 70
Super is the second biggest slab of wealth at this age, and the gap between average and median is even more dramatic here. ASFA’s analysis of ATO data shows:
| Age group | Average balance (men) | Average balance (women) | Median (men) | Median (women) |
|---|---|---|---|---|
| 65 to 69 | $448,518 | $392,274 | ~$206,000 | ~$191,000 |
| 70 to 74 | $501,785 | $449,540 | ~$200,000 | ~$198,000 |
Source: ASFA analysis of ATO data (balances at June 2023, published October 2025); medians from ATO 2021-22 statistics. Current as at September 2026.
Add the averages together and a 70-year-old couple holds roughly $950,000 in combined super. Add the medians and the typical couple holds closer to $400,000. Both are true. The medians describe far more real couples than the averages do. On the podcast, Scott and Phil noted the same pattern for people arriving at retirement: the average couple retires with around $540,000 combined, well short of the headline benchmarks, and most of them still build a workable retirement around it.
For a deeper cut of the balance data at every age, see our guide to the average super balance by age in Australia.
What a $1.5 million net worth means for the Age Pension
Here is where the structure of the wealth matters more than the total. The family home is exempt from the Age Pension assets test. Everything else counts. So a couple with a $1 million home and $450,000 in super and savings has a $1.45 million net worth and still qualifies for a substantial part pension, because only the $450,000-odd is assessable.
The current thresholds, from 20 September 2026: a homeowner couple receives the full pension of $1,866.00 a fortnight (about $48,516 a year) with assessable assets under $499,000, with a part pension available up to $1,121,000. The pension reduces by $3 a fortnight for every $1,000 above the lower threshold, and deeming rates of 1.75% and 3.75% apply to financial assets under the income test. Source: Services Australia. Current as at September 2026. These figures are set by the Australian Government and are typically updated each March and September.
Scott and Phil worked through what these super balance averages actually mean for retirement funding in Episode 19 of the Wealthlab Podcast:
This is why ASFA’s 2026 research found around 56% of Australians aged 65 and over still receive a full or part Age Pension, even as average balances hit record highs. Being a millionaire couple on paper and receiving Centrelink income are not contradictory in Australia. They are the standard outcome of a system that exempts the home.
We generally find the bigger problem at 70 is not the size of the net worth but its shape. A couple can hold $1.5 million and struggle for cash flow because $1.1 million of it is the house. Asset rich, income poor is the most common structural issue we see in this age group, and it is fixable: how the assessable assets are invested, which accounts they sit in and how drawdowns are sequenced all shift both the income and the pension entitlement. That structural work is the core of our pension and Centrelink advice.
Is the average even the right benchmark?
Comparing your position to the average couple is natural, but it answers the wrong question. The average tells you where you rank. It tells you nothing about whether your money will fund the life you want.
The more useful benchmark is spending. ASFA’s June quarter 2026 Retirement Standard prices a comfortable lifestyle at $78,998 a year for a couple aged 65 to 84 and a modest one at $52,690, assuming the home is paid off. Source: ASFA Retirement Standard. A couple with $450,000 in assessable assets plus a near-full Age Pension can typically fund somewhere between those two lines. A couple with $950,000 can fund comfortable with headroom. Neither needs to win a net worth comparison to get there.
Scott put it best on the Psychology of Money episode:
“The goal isn’t to die with the largest super balance possible. The goal is to convert capital into confident living.” That is the real test at 70. Not the number, but what the number does.
Want to see what your own position could fund? Run it through the free Wealthlab super calculator for a quick picture of how your assets, spending and the Age Pension fit together.
Frequently asked questions
What is the average net worth of a 70-year-old couple in Australia? Between $1.4 million and $1.8 million in 2026, based on indexed ABS household wealth data, with the median for 65-to-74 households around $1.46 million. Roughly two thirds of it is typically the family home.
What is a good net worth at 70 in Australia? It depends on spending, not ranking. ASFA suggests a couple needs around $730,000 in super at retirement, alongside a paid-off home and a part Age Pension, to fund a comfortable lifestyle of about $79,000 a year. Many couples live well on considerably less with the pension doing more of the work.
How much super does the average 70-year-old have? Averages sit around $500,000 for men and $450,000 for women aged 70 to 74, but medians are closer to $200,000 each. The typical couple holds roughly $400,000 combined, while the average couple holds closer to $950,000 because large balances skew the mean.
Does a high net worth stop you getting the Age Pension? Not necessarily. The family home is exempt from the assets test, so a couple with a valuable home and moderate other assets often qualifies for a part or even full pension. A homeowner couple can hold up to $1,121,000 in assessable assets (as at September 2026) and still receive a part pension.
Is the median or the average more useful? The median. Averages are inflated by a small number of very wealthy households. The median describes the couple in the middle, which is a far more realistic benchmark for most people.
Does net worth keep growing after 70? Usually not. ABS data shows household wealth peaks in the 55-to-64 bracket and eases through retirement as savings are drawn down, though home values can keep the total high on paper.
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.
