What's the average Australian superannuation balance at age 30 in 2024?

The average super balance at age 30 might shock you.

A couple sitting in their living room and checking their finances.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It's probably fair to say that Australians aged around 30 years old are probably some of the country's most uninformed groups when it comes to superannuation. With retirement still decades away, many 30-somethings don't find super all that interesting, at least compared to other pursuits that are normal at this kind of age, such as establishing a successful career or starting a family.

But as anyone who understands the power of compounding knows, 30 is a great age to start taking your superannuation seriously. After all, those who are in their 30s today might not have too much else to rely upon if they wish to enjoy a long and comfortable retirement free of financial worries.

Those in their 30s are also some of the first Australians who would have benefitted from high compulsory superannuation payments for the entirety of their working lives.

Over the past few months, we've looked at the average Australian superannuation balances of those Australians close to the retirement age, as well as those who still have a decade or two left before they stop working. We've even looked at what kind of money those who managed their own super with a self-managed super fund (SMSF) have.

But today, let's get inside the average super fund of someone aged between 30 and 34 and see what we find.

What's the average Australian superannuation balance at age 30?

We'll start by looking at data from the Australian Taxation Office (ATO)'s Taxation Statistics report, which covers the 2021 financial year.

This report reveals that over the 2021 financial year, the average super fund of someone aged 30-34 contained $51,400. The median balance, which is less skewed by outliers, was $38,681.

For men, the average balance was $56,344, while the median came in at $41,849.

For women, we got an average balance of $46,289 and a median of $35,716.

These numbers should generate at least some consternation amongst Australians in their 30s right now. As reported by the ABC this year, it is estimated that someone aged 30 today should have at least $59,000 in superannuation if they wish to be on track for a 'comfortable' retirement by the time they hit 67.

The Association of Super Funds Australia (ASFA) currently defines a comfortable retirement as one funded by at least $690,000 in super if one is in a couple, or $595,000 for singles.

This also assumes those retiring own their own home, rely on a part pension and withdraw their super as a lump sum.

The 'comfortable' retirement they will then enjoy includes private health insurance, provisions for buying household goods, a quality car, occasional international and domestic travel, as well as good mobile and home internet connections.

Despite these assumptions, it appears that those around 30 today have some ground to make up with their super funds if they wish to enjoy a comfortable retirement.

Should you invest $1,000 in Kogan.com Limited right now?

Before you buy Kogan.com Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Kogan.com Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 6 March 2025

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Superannuation

a couple clink champagne glasses on board a private aircraft with gourmet food plates set in front of them. They are wearing designer clothes and looking wealthy.
Superannuation

Superannuation and Wealth: The path of Australia's top earners

Here's the latest findings.

Read more »

An elderly man holds his chin in concern as he looks at his laptop screen.
Superannuation

How do super funds manage volatility?

Volatility can be scary, but it isn't always bad.

Read more »

Couple holding a piggy bank, symbolising superannuation.
Superannuation

How much superannuation do you really need in retirement?

Let's see if you really need $1 million for a comfortable retirement.

Read more »

A green-caped superhero reveals their identity with a big dollar sign on their chest.
Superannuation

Should you set up an annuity in your superannuation?

Would you get more value by investing some of your hard-earned money into an annuity during retirement?

Read more »

A happy elderly man wearing a red cape smiles as he jumps up like a hero from a massage table.
Superannuation

Is my superannuation on track?

Here's how much superannuation you should have at your age right now to fund a comfortable retirement later.

Read more »

man and woman discussing superannuation
Superannuation

How is superannuation taxed in Australia?

Want to add or withdraw from your super? Here’s how you will be taxed. 

Read more »

A retiree relaxing in the pool and giving a thumbs up.
Superannuation

How much superannuation do I need to retire at 60 in Australia?

Looking to retire at 60? Here’s a guide on how much super you might need.

Read more »

Superannuation written on a jar with Australian dollar notes.
Superannuation

How much could your superannuation balance grow by the time you turn 70?

Our wealth can grow significantly in the coming decades.

Read more »