by Kurt Purkiss
It’s never too early or too late to start planning for life after work, but where do you begin?

If you’ve been thinking about the future and what it might look like, then please see our guide below.

There’s no “one-size-fits-all” approach to superannuation, but based on your stage of life it can help to understand what areas you need to focus on.

In Your 20s

For most, your working life is just getting started in your 20s. While you might be at the beginning of your career, now is an excellent time to get the basics right.

Many clients who come to see us in their 20s often have several super funds, especially if they’ve had a few jobs throughout their school or university years. In these instances, it is usually a great idea to consider tidying this up and consolidating into a single fund. Consolidating your accounts is easy and can be done through the myGov portal and ATO website.

The majority of your contributions at this age are likely to be made by your employer. However, it’s also a great age to get into the habit of salary sacrificing a little extra into your super fund. The power of compound interest means the longer these contributions are invested, the better they’re likely to perform for you.

As a guide, by the end of your 20s, the average super balance is $28,000 for men and just shy of $24,000 for women.

In Your 30s

By the time you reach your 30s, your career is often well established and you’re starting to be rewarded with higher wages.

Many of the same principles still apply as they did in your 20s. Aim to keep your superannuation consolidated and review your investments with a qualified financial planner to ensure they reflect your long-term objectives. Your 30s is also an excellent time to begin a conversation with a financial planner.

Your 30s usually coincides with many of life’s significant events, like marriage, children and buying your first home. These events lead us to talk about personal insurances, which become much more critical at this stage as your financial obligations increase.

By the end of your 30s, the average super balance is $92,000 for men and $72,000 for women.

In Your 40s

They say 40 is the new 30. It’s also worth noting that I am rapidly approaching this milestone, so take that as you will.

This decade often brings career promotions to senior and managerial positions, and with this a wage increase is also likely. With kids, school fees and mortgage repayments, your 40s are also expected to be the most expensive time in your life.

By this age, you need to be thinking about long-term financial planning and paying down non-tax effective debt. If you haven’t started down this path, don’t worry, you still have a relatively long timeframe before retirement, so there’s plenty of opportunities to plan for the future.

An important note for women in their 40s is that this is usually the stage of life that the divide between men’s and women’s super assets becomes more pronounced. This can result from a number of factors, most common being time off work to raise children, caring for others, and part-time employment.

The critical thing to remember is that through smart financial planning, this difference can be recovered.

By the end of your 40s, men have accrued $182,000 on average and $127,000 for women.

In Your 50s

In your 50s, you’ve likely hit your peak earning potential. You might even start to see your cash flow improve, having paid off the majority of your debts and with children becoming more financially independent.

This is the decade where you can start to implement more complex and varied investment strategies in the lead up to retirement, which may improve your overall retirement position.

Review your investments with a financial planner regularly and make sure they’re appropriate for your age and stage of life. As you near retirement age, you may need to switch to a more conservative approach to investing to protect your nest egg from market volatility.

By the end of your 50s, men have accrued $311,000 on average and $207,00 for women.


You can see how important it is at every stage of life to have advice on your superannuation, investments and strategic approach. If you require any assistance or simply want to have a superannuation “health check” , then please contact Lambourne Partners Wealth below to book your complimentary consultation.

The information in this article is of a general nature only. It does not take into account your specific financial situation and needs. Always consider the appropriateness of the advice in relation to your financial position, objectives and requirements.

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