At 35, Is your Super on Track?

Wondering what your superannuation balance could look like by the time you turn 50? The answer depends on a range of factors, but long-term contributions and compound growth can make a significant difference. In this example, the assumptions are that you're currently 35 years old, have a super balance of $85,000, earn an annual income of $200,000, and maximise your concessional super contributions each year through salary sacrifice. Based on those assumptions, around $2,302 would be contributed to super each month for the next 15 years. The projection also assumes an average annual investment return of 9% over that entire period. Under these assumptions, your super balance could grow to approximately $1,197,324 by age 50. Of that total, nearly $700,000 comes from compound investment growth alone, highlighting the powerful impact that time and consistent contributions can have on building long-term wealth. For higher income earners, maximising concessional super contributions may also provide significant income tax savings along the way, making it a strategy worth considering alongside long-term retirement planning. General advice only. Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401).

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Amy Lehmann is an Authorised Representative(No. 1292710) of AFSL 495401.