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Talk of a $5M Cap on Superannuation Balances., page-13

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geffa9

14,110 Posts.

633

13/02/22

07:52

Post #: 59535332

Originally posted by Hittman ↑

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.

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I have four times the size of the average for my age yet at $200,000. While I think it is a good start I have a long way to go.

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Talk of a $5M Cap on Superannuation Balances., page-13

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	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

Talk of a $5M Cap on Superannuation Balances., page-13

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