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The-Head

17,957 Posts.

01/06/23

20:21

Post #: 68087558
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Originally posted by Hingdog: ↑

So you'd be 50 give or take a few years? Add another 15 years of compounding $300k at 9.55% pa and you go over $1m without even considering the effect of contributions

Now think about someone who started working in 2000 who's had an average salary of $100k(so far, it will increase a LOT over the next 20 years), they're going to be easily over $3m in super. This is just maths, it's not complicated

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The average wage is $90 000 and that’s not the median, a far better indicator IMO
Your figures are far from average, most people take years to reach 100k, if at all. It will take a very long time for the average balance to reach 3 million.
Anyway happy to agree to disagree.
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