I'm GenX and my super balance will probably break the $5m level before I am 60 and I don't contribute extra to my Super.
With changes to contribution limits it will be harder for those in normal retail or industry funds to accumulate more than $5m in their Superfund, but those with an SMSF or those that take an active part in their retail or industry fund could potentially do it. A few industry funds have direct share investment options so someone that takes the time to learn and understand the share market could do well.
Age
Average balance - men
Average balance - women
1
20-24
$9,481
$8,051
2
25-29
$28,319
$23,773
3
30-34
$58,035
$45,968
4
35-39
$92,425
$72,098
5
40-44
$134,992
$98,572
6
45-49
$182,146
$127,687
7
50-54
$242,007
$159,188
8
55-59
$311,163
$207,254
9
60-64
$371,599
$251,409
10
65-69
$384,539
$313,050
These figures are averages and are inflated the number of very high balances.
Many could have higher balances if they took an active interest in their Superannuation Accounts rather than leave it in set and forget mode with their respective Superannuation Fund.
