The goal for most of us is to save enough in our superannuation such that we can fund a relatively comfortable retirement.

Whether that occurs at age 60, when we can access our superannuation, or later depends on various factors, but the amount of superannuation is, of course, important.

This begs the question: how much do you need to fund your retirement?

Australian superannuation amounts coming up short

It’s instructive to look at the statistics on how much superannuation Australians currently have.

At the moment, for men aged 60-64 the average amount is $395,852, while for women the amount comes in at $313,360.

For those aged 65-69 the numbers come in at $448,518 and $392, 274, with all of these figures calculated by the Association of Superannuation Funds of Australia (ASFA).

Meanwhile, ASFA has calculated that to have a comfortable retirement, using superannuation and a part pension, and assuming you own your own home, couples will need $730,000 in super while singles will need $630,000.

How much passive income will superannuation generate?

Now let’s look at what those aged 60-64 could expect to earn from their superannuation in passive income.

If a retiree had $395,852 in superannuation and earned 10% on their investments (a lofty sum to assume on a yearly basis), they would earn $39,585. This is well below the $55,923 per year which ASFA says would afford a comfortable retirement.

If they earned just 5%, this figure would drop to $19,792.

What this tells us is that many people do not have enough in their superannuation to sole-fund their lifestyle.

So, what can you do to prepare if you think your superannuation needs a top-up?

Strategies to boost your superannuation balance

Extra contributions can be made to superannuation in the form of concessional and non-concessional contributions.

Concessional contributions are taxed at just 15% and include money contributed by your employer, salary sacrifice contributions, and extra contributions you make up to a cap of $32,500.

If funds permit, and your superannuation balance was less than $500,000 in the last financial year, you can also carry forward any unused concessional contribution cap amounts from the previous five financial years.

The amount you are able to contribute in this way can be found in your myGov account.

A notice of intent to claim must be lodged with your super fund for concessional contributions so they know to deduct the 15% tax from the amount.

It is also possible to make non-concessional contributions up to an amount of $130,000, and it is also possible to contribute more than this amount using the bring forward rule.  

The post Does the average superannuation balance at 60 generate enough passive income? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today
• CSL shares surge 18% as ‘reset year’ points to a return to growth

Motley Fool contributor Cameron England 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.

There have been many ASX shares that have delivered their latest numbers to investors so far this earnings season. Some have been impressive, others middling. But one report turned my head faster than any other. That would be the earnings from ASX tech stock and dividend share Pro Medicus Ltd (ASX: PME).

The medical imaging software company posted its earnings for the full 20206 financial year on Tuesday of this week.

As we covered at the time, there wasn’t much to turn one’s nose up at. Pro Medicus announced that its revenue for the 12 months to 30 June 2026 came in at $261.7 million, up a whopping 22.9% year on year.

Meanwhile, underlying earnings before interest and tax rose 24.4% to $$16.1 million. That helped to increase the company’s underlying net profits after tax (NPAT) by 24.1% to $144.7 million.

On the bottom line, Pro Medicus reported a statutory NPAT of $265.3 million, up 130.3%.

Those metrics are all well and good, pointing to a company whose growth engine is firing on all cylinders. But it was the dividend that Pro Medicus revealed that really drew my eye.

A massive pay rise from a stellar ASX dividend share

Pro Medicus unveiled a final dividend of 37 cents per share for FY2026. That alone represents a 23.33% hike over the final dividend of 30 cents per share from 2025.

Together with the interim dividend of 32 cents per share from March, it takes Pro Medicus’ 2026 payouts to 69 cents per share. That’s a 25.45% increase over 2025’s total of 55 cents per share.

As is this ASX dividend’s habit, all of those dividends came with full franking credits attached.

If this ascension from 55 to 69 cents per share for Pro Medicus’ payouts was a one-off, that would be one thing. However, this latest increase is just the latest in a long line of dramatic payout rises from this ASX dividend share.

Pro Medicus delivered a dividend hike almost every year of the past 15 years. The last time investors saw a cut was back in 2011. Since 2018, this stock has gone from paying out 6 cents a share to 2026’s 69 cents. That’s a compounded annual growth rate of 35.7%. Wealth-making stuff.

This incredible trajectory exemplifies why I’ve always wanted to own this ASX dividend share. Hopefully, I’ll get my chance before the next dramatic dividend hike.

The post This ASX dividend share just blew me away appeared first on The Motley Fool Australia.

More reading

• Healthcare results wrap: Are Cogstate and Pro Medicus shares a buy, hold or sell?
• Here are the top 10 ASX 200 shares today
• Why are Pro Medicus shares surging more than 10%?
• Why is everyone talking about CSL, Pro Medicus and BHP shares on Tuesday?
• Pro Medicus FY26: Strong earnings growth and higher dividend

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 recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Australian Strategic Materials Ltd (ASX: ASM) share price will be suspended from quotation after today’s close, following news that all ASM shares will be acquired by EFR Critical Minerals Pty Ltd, a wholly owned subsidiary of Energy Fuels Inc (NYSE: UUUU) This move comes after the Federal Court approved the scheme of arrangement.

What did Australian Strategic Materials report?

• ASM shares will be suspended from quotation as of the close of trading on 19 August 2026
• The Federal Court of Australia approved the scheme by which EFR Critical Minerals will acquire ASM
• Energy Fuels Inc. becomes the new indirect owner of ASM
• All outstanding ASM securities will transfer under the scheme

What else do investors need to know?

Trading in ASM’s securities will halt at the close today. This follows the official lodgement of the Court’s orders with ASIC. The suspension wraps up a process that began when ASM and EFR Critical Minerals proposed the acquisition deal to shareholders.

ASM shareholders will receive consideration according to the scheme’s terms as Energy Fuels Inc. takes ownership. The delisting of ASM means that existing shareholders will soon see their holdings converted as specified by the scheme documentation.

What’s next for Australian Strategic Materials?

With the scheme now approved and ASM securities suspended, EFR Critical Minerals will complete the acquisition process. Energy Fuels Inc. is expected to integrate ASM’s critical minerals operations into its global business.

Shareholders can expect final communication regarding payment and transfer details soon. The company is poised for a fresh chapter under new ownership with a focus on continued resource development.

Australian Strategic Materials share price snapshot

Over the past 12 months, ASM shares have risen 109%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

View Original Announcement

The post ASM share price suspended as EFR Critical Minerals completes takeover appeared first on The Motley Fool Australia.

More reading

• Australian Strategic Materials confirms scheme effectiveness as takeover completes
• Australian Strategic Materials: Federal Court approves Energy Fuels takeover
• ASM shareholders back Energy Fuels acquisition in decisive Scheme Meetings

Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.