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The "expected by someone" balances aren't nearly enough if you...

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Osi

15,897 Posts.

201

15/05/20

11:43

Post #: 44638049

Originally posted by Hittman: ↑
No hard and fast rule, these figures give a guide...

Here's what super balance you should be aiming for based on your age.²
Column 1 Column 2
1 25 years old $24,000
2 30 years old $61,000
3 35 years old $102,000
4 40 years old $154,000
5 45 years old $207,000
6 50 years old $271,000
7 55 years old $345,000
8 60 years old $430,000
9 65 years old $523,000
Age Average balance (men) Average balance (women)
1 15 to 24 years $6,300 $6,100
2 25 to 34 years $41,700 $31,600
3 35 to 44 years $100,300 $69,300
4 45 to 54 years $196,400 $129,199
5 55 to 64 years $332,700 $245,100
6 65 to 74 years $417,900 $378,600
7 75 years and over $366,200 $270,300
Expand
The "expected by someone" balances aren't nearly enough if you expect to live comfortably into your 90s.

Balances need to be double that. Unfortunately COVID may end up halving most peoples' balances.

cheers

Last edited by Osi: 15/05/20

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	Column 1	Column 2
1	25 years old	$24,000
2	30 years old	$61,000
3	35 years old	$102,000
4	40 years old	$154,000
5	45 years old	$207,000
6	50 years old	$271,000
7	55 years old	$345,000
8	60 years old	$430,000
9	65 years old	$523,000

	Age	Average balance (men)	Average balance (women)
1	15 to 24 years	$6,300	$6,100
2	25 to 34 years	$41,700	$31,600
3	35 to 44 years	$100,300	$69,300
4	45 to 54 years	$196,400	$129,199
5	55 to 64 years	$332,700	$245,100
6	65 to 74 years	$417,900	$378,600
7	75 years and over	$366,200	$270,300

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