If you’re in your late 50s or early 60s, you’ve probably asked yourself: “What’s a good super balance at 60?”
It’s one of the most common retirement questions in Australia and for good reason. Your 60s are when most people start seriously thinking about finishing work, accessing superannuation, and planning what life will look like in retirement.
The truth is, there isn’t a single “magic number.” A good super balance at 60 depends on your lifestyle, whether you own your home, how much you plan to spend each year, and even how long you expect to live. But there are helpful benchmarks and averages we can use to guide you.
Why Age 60 Matters for Super
Age 60 is an important milestone because it’s when most Australians reach their preservation age and can access super tax-free (as long as they’ve retired or met another condition of release).
This makes 60 the key checkpoint for asking: Do I have enough super for the lifestyle I want?
ASFA Benchmarks: What’s Considered “Good”
The Association of Superannuation Funds of Australia (ASFA) sets out the Retirement Standard, which gives estimates of what retirees need for a modest vs comfortable lifestyle.
As of 2025:
- A single retiree needs about $51,000 a year for a comfortable lifestyle.
- A couple needs about $72,000 a year for a comfortable lifestyle.
To fund this, ASFA suggests having roughly:
- $595,000 in super for singles
- $690,000 in super for couples
This assumes you own your home outright and will be eligible for some Age Pension support later.
👉 So if you’re asking “What’s a good super balance at 60?” these numbers are the official industry guideposts.
Average Super Balances at 60–64
Not everyone meets the ASFA targets. According to ATO data:
- The average super balance for men at age 60–64 is around $359,000.
- The average super balance for women at age 60–64 is around $289,000.
This shows that many Australians enter retirement with less than the ‘comfortable’ benchmark meaning they rely on a mix of super, the Age Pension, and personal savings.
What’s a Good Super Balance at 60? (The Real Answer)
A “good” balance isn’t just about numbers it’s about whether your super can support the lifestyle you want. Consider these factors:
- Do you own your home? Housing is the biggest retirement expense. Without rent or mortgage costs, you’ll need less super.
- What lifestyle do you want? Travelling overseas each year costs more than staying local.
- How long will you live? Australians are living longer planning for 25–30 years in retirement is realistic.
- Will you get the Age Pension? Many retirees top up their super with full or part Age Pension from age 67.
👉 For some, $300,000–$400,000 may be enough if they live modestly and receive Age Pension support. For others who want a “comfortable” retirement with more freedom, $600,000–$700,000+ is a better target.
Example Scenarios
- Single with $300,000 in super: May need to rely heavily on Age Pension and budget carefully, but retirement is still possible.
- Couple with $700,000 in super and a paid-off home: Likely to enjoy a comfortable lifestyle, with super income supplemented by part Age Pension.
- High-income saver with $1m+ in super: Strong position for financial independence and flexibility in retirement choices.
How to Boost Your Super Balance Before 60
If you’re not yet at your target, here are ways to top up:
- Salary sacrifice – direct part of your pre-tax income into super.
- Personal contributions – after-tax contributions (within caps) to boost your balance.
- Government co-contributions – available for eligible low-income earners.
- Investment review – choosing the right investment option for your risk level can improve growth.
FAQs on What’s a Good Super Balance at 60
1. What’s a good super balance at 60 for a single person?
ASFA suggests about $580,000 for a comfortable lifestyle. But even with less, you can combine super with the Age Pension to cover your needs.
2. What’s a good super balance at 60 for a couple?
The benchmark is around $690,000 combined, assuming home ownership and modest spending. Couples often find their money goes further because they share living costs.
3. What if I have less than the recommended balance?
You’re not alone many Australians retire with less. Careful budgeting, Age Pension eligibility, and supplementing income with part-time work can still make retirement achievable.
4. Can I retire at 60 with $300,000 in super?
Yes, but it would likely mean living modestly, relying on Age Pension at 67, and making sure your super is invested wisely to last.
5. How much is “too much super”?
There’s no real upper limit, but if you accumulate more than you need, you may pay extra tax on contributions beyond the annual caps. Having more super simply gives you more flexibility and financial security.
So, what’s a good super balance at 60? For most Australians, a comfortable retirement starts at around $600,000 for singles and $700,000 for couples but the real answer depends on your personal lifestyle, assets, and pension eligibility.
Even if your balance is below the benchmarks, smart planning, Age Pension support, and managing your spending can still give you a secure and enjoyable retirement.
At Wealthlab, we help Australians in their 50s and 60s take control of their super and create a retirement strategy that matches their goals.
👉 Book a consultation today to understand what your super balance really means for your retirement.
Learn More About Retirement & Superannuation
https://moneysmart.gov.au/grow-your-super/how-much-super-should-i-have