At age 55, you’re on the home stretch before retirement, so it’s important to know if your superannuation balance is on track.

At this age, you’re just five years from reaching your preservation age. This is when you can access your superannuation balance if you’ve stopped working.

You’re also around 10 years from the average retirement age in Australia.

The clock is ticking, so do you know how much is in your superannuation? And how does it compare to others the same age as you?

Here’s a breakdown of what the average Aussie has in their super at age 55, and also what you should have at this age to retire comfortably when the time comes. Because unfortunately, the two numbers aren’t the same.

Average superannuation balance at age 55

There isn’t an exact figure for the average superannuation balance at age 55, but the Association of Superannuation Funds of Australia (ASFA) has a good guideline.

ASFA’s data shows that at age 55 to 59, the average Australian male has around $319,743 in superannuation. The average female in the same age bracket has approximately $242,945.

So, how does your balance compare to the average Aussie the same age?

How does this compare to what I actually need in my super to retire comfortably?

That’s the catch. 

Even if you’re on track with the rest of the population, you still might not have enough to fund a comfortable retirement when the time comes.

In order to retire comfortably, ASFA estimates that it’ll cost single Australians around $55,923 per year. It’ll cost couples living together closer to $78,566 per year in total.

These figures also assume you’ll start your retirement at age 67. It also assumes that you’ll receive a part Age Pension around this time and that you own your home outright.

In order to fund this type of comfortable retirement, ASFA calculates that single Australians will need around $630,000 in their superannuation at age 67. Meanwhile, couples will need around $730,000 combined at the same age.

How do I know if I’m on track at age 55?

ASFA has a nifty tool to help calculate what you should have in your superannuation at age 55 in order to reach the balance you need by age 67.

It shows that, at this age, Australians should have close to $399,000 in their superannuation in order to reach their goal.

Of course, if you’re planning to retire a little earlier than 67, or you think you’ll need to pay mortgage repayments or rental fees in your retirement years you’ll need to account for these costs on top of this estimate. 

You can see that, at an average $319,743 for men or $242,945 for women, many Australians are already falling behind.

Good news! It’s never too late to boost your superannuation balance

At age 55, you’re still several years away from retirement, so there’s still time left for your superannuation to catch up.

The easy way to boost your balance at this age is to make extra contributions however you can. Individuals can make concessional (before-tax) super contributions, such as salary sacrificing, which are taxed at a reduced rate. You can also make after-tax payments within your annual limits. 

You’ll also want to check that your fund is performing well and that the risk profile of your portfolio suits your own. 

Then you can let compound growth do the rest of the heavy lifting. 

The post Average superannuation balance for 55-year-olds in Australia. How does yours compare? appeared first on The Motley Fool Australia.

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• How much super does a 55-year-old need to retire comfortably?
• Here’s why I’d buy and hold CSL and Cochlear shares for 10 years
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Motley Fool contributor Samantha Menzies 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.

When investors think of ASX consumer staples shares, two names dominate.

Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW).

Both sell products households need in every economic climate, and both generate mountains of cash. But they are not identical investments.

So which one looks the better buy today? Let’s compare them.

The share price story

The two giants have travelled very different paths in 2026.

Woolworths shares have staged a strong recovery this year.

They are up around 32% year to date. By contrast, Coles has been steadier, rising roughly 6% over the same period.

That rally has left Woolworths looking pricier.

As a result, the broker Bell Potter recently held a cautious view on the stock, setting a price target of $35.50, slightly below the share price at the time of writing.

Comparing these ASX consumer staples on dividends

Income investors often buy supermarkets for their reliable dividends. Here, the picture is interesting.

Analysts expect Coles to issue fully-franked dividends of 75.5 cents in FY26 and 82 cents in FY27. At the time of writing, that FY27 forecast implies a yield of about 3.6%.

Woolworths is tipped to pay 99.5 cents in FY26 and $1.13 in FY27. That works out to a forward yield closer to 2.9% at the time of writing.

On the headline numbers, Coles offers the more attractive yield. But income is only part of the story.

Growth and quality

Coles has been executing well.

The company has grown its earnings steadily and kept a tight grip on costs. Investors have long valued its consistency and defensive earnings base.

Woolworths remains the larger business. Its scale gives it advantages in buying and distribution, and recent results suggest margins are stabilising after a tough patch.

So the choice is really about style.

Woolworths is priced for a recovery and scale. Coles is priced for steady income and discipline.

Foolish Takeaway

Both Coles and Woolworths are high-quality ASX consumer staples shares. Both hold dominant positions in a defensive industry.

Right now, Coles arguably looks the better value on dividends and steadiness. Woolworths offers more upside if its turnaround keeps building.

Neither is a bad long-term option for a defensive portfolio.

For income-focused investors, these ASX consumer staples remain two of the most watchable names on the market.

The post Coles vs. Woolworths. Which ASX consumer staples stock is the best buy? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Coles ends talks for Greencross acquisition
• 3 top ASX 200 shares I’d buy for a self-managed superannuation fund
• How much do I need in my superannuation to earn an annual $60,000 passive income?

Motley Fool contributor Mark Verhoeven 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.

If you are 55 and wondering whether your superannuation is on track, you are not alone.

It is one of the most common questions Australians ask.

The good news is that there are clear benchmarks to aim for. The less good news is that many people fall short.

Let’s break it down.

What a comfortable retirement actually costs

The most widely used benchmark comes from the ASFA Retirement Standard.

This tool estimates what retirees actually spend.

According to this standard, a single homeowner needs about $54,240 a year for a comfortable lifestyle. A couple needs roughly $77,375 a year.

To fund that, ASFA suggests a lump sum of around $630,000 for a single person.

Couples need about $730,000 between them.

Both figures assume you own your home and draw a part Age Pension.

How much superannuation you need at 55

Here is the important part.

Those targets apply at retirement age, which is typically 67. At 55, you still have time on your side.

You generally cannot access your superannuation until age 60, and the Age Pension does not kick in until age 67.

So a 55-year-old has roughly a decade of compounding still to come.

That is quite important. Money invested today has years left to grow. A balance that looks light at 55 can still reach the target by 67.

The catch is that many Australians are behind.

Typical balances in the 55 to 64 age bracket sit well below the ASFA figure.

Building your superannuation from here

If you are behind, you have several levers to pull.

Salary sacrificing extra into superannuation is one of the most powerful. Concessional contributions are taxed at just 15% for most people, which is well below most marginal tax rates.

Making sure your money is invested sensibly is just as important. Many funds let you choose your investment mix.

Some investors also hold ASX shares and funds directly.

One popular option is the Vanguard Australian Shares Index ETF (ASX: VAS). This ETF tracks the 300 largest companies on the ASX, giving you instant diversification in a single trade.

VAS also pays regular dividends, which can be reinvested to compound over time.

Low-cost index funds like VAS are a common building block for growth-focused portfolios.

They are simple, cheap, and broadly diversified.

Foolish Takeaway

So how much superannuation does a 55-year-old need?

Aim for the path to roughly $630,000 as a single, or $730,000 as a couple, by age 67.

The exact number depends on your lifestyle, health, and whether you own your home.

At 55, the decisions you make now still count for a lot.

Contribute more where you can. Invest for growth while you still have time. And check in on your superannuation regularly.

The post How much super does a 55-year-old need to retire comfortably? appeared first on The Motley Fool Australia.

More reading

• Coles vs. Woolworths. Which ASX consumer staples stock is the best buy?
• If I invest $10,000 in Westpac shares, how much passive income will I receive in 2027?
• Here’s why I’d buy and hold CSL and Cochlear shares for 10 years
• The superannuation portfolio that lets you retire at 60, not 67
• 2 ASX dividend shares with yields above 7%

Motley Fool contributor Mark Verhoeven 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.