At age 64, you’re approaching the final few years before you can retire and enjoy the superannuation you’ve worked hard to accumulate.

But do you know if you actually have enough money in your account to live the retirement lifestyle you’ve planned?

Or how your super compares to others the same age?

Here’s a breakdown of the average superannuation balance for Australians aged 64, and how much you actually need to retire well.

How does yours stack up?

The average superannuation balance for Australian men aged 64 in FY27

There aren’t exact figures for the average balance at age 64, but the Association of Superannuation Funds of Australia (ASFA) provides a bracket which can be used as a starting point.

The data shows that the average Australian male aged 60 to 64 has around $395,852 in their superannuation.

But as age 64 is right at the top of that age bracket, it can be helpful to look at the one above too.

ASFA’s data shows that the average superannuation balance for Australian men aged 65-69 is $448,518.

And the average superannuation balance for Australian women at age 64

Women in the same age bracket have a lot less. The average balance for Australian women aged 60 to 64 is around $313,360. That’s a gap of around $83,000 compared to men the same age.

For the age bracket above, the gap is a little lower. The average superannuation balance for women aged 65 to 69 is $392,274. That represents a gap of around $56,000 when compared to men in the same age bracket.

The gap is mostly due to women taking extended periods out of the workforce, during which time they receive little to no compulsory employer superannuation. 

How does your super balance stack up with men and women the same age as you?

And most importantly, how does your balance compare with what you actually need to retire comfortably?

How much super do I actually need to retire comfortably?

ASFA estimates that it’ll cost single Australians around $55,923 per year to retire comfortably. Couples living together will need to have closer to $78,566 per year combined to finance a comfortable retirement.

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 a 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.

To reach this goal, at 64, all Australians should aim to have around $581,000 stashed away in their superannuation.

As you can see, the amount you need to retire comfortably is significantly higher than the average superannuation balances for either age bracket.

Help! I’ve fallen behind. What can I do to boost my balance before it’s too late?

At age 64, it’s not too late to boost your superannuation balance before you decide to stop working.

My first tip is to ensure that your super fund is performing well and that your investment strategy and risk profit are appropriate for your circumstances. 

Then you’ll need to add extra contributions wherever you can. Take advantage of concessional and non-concessional limits and any potential tax reduction that may come with it.

Also take advantage of any applicable government contributions that might help your personal circumstances. There is a downsizer contributions rule, a bring-forward rule, a government co-contribution rule, and many others.

Anything you do today can help boost your compound growth.

The post The average superannuation balance for 64 year olds in Australia in FY27 appeared first on The Motley Fool Australia.

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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.

On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged lower. The benchmark index fell 0.1% to 9,066.7 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 to sink

The Australian share market looks set for a disappointing session on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 78 points or 0.85% lower. In the United States, the Dow Jones fell 0.8%, the S&P 500 dropped 0.7%, and the Nasdaq sank 1%.

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Wednesday after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.7% to US$90.65 a barrel and the Brent crude oil price is up 5.1% to US$95.13 a barrel. This was driven by an escalation in US-Iran tensions.

Buy Catalyst Metals shares

Bell Potter thinks that Catalyst Metals Ltd (ASX: CYL) shares could be worth considering. This morning, the broker has retained its buy rating on the gold miner’s shares with a trimmed price target of $12.80 (from $13.25). It said: “FY26 was a significant year for CYL, building operationally and financially YoY, achieving guidance. Our FY27 outlook remains unchanged (128koz for $2,833/oz AISC), subject to the September 2026 guidance and strategy release. We lower our TP to $12.80/sh and retain Buy.”

Gold price tumbles

ASX 200 gold shares Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a poor session on Wednesday after the gold price tumbled. According to CNBC, the gold futures price is down 2.4% to US$4,375 an ounce. A stronger US dollar and US treasury yields weighed on the precious metal.

Buy GrainCorp shares

Bell Potter is also tipping Graincorp Ltd (ASX: GNC) shares as a buy this week with an improved price target of $7.15 (from $5.90). Commenting on its recommendation, the broker said: “The ABARE crop report is positive and likely to lead to consensus upgrades. However, the margin backdrop at this point, in terms of both grain basis and oilseed crush margins, looks possibly the strongest it has for three years. To us this is key, as consensus FY27e expectations (which this crop estimate underwrites) looks to be carrying forward the margin environment of FY25-26e, which was materially weaker. This implies that there is both volume and margin upside potential within consensus FY27e expectations.”

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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.

A good investment portfolio should do more than just look good on the day it is created.

I think it should also be something an investor can comfortably hold when markets fall, individual shares disappoint, and the latest hot investment starts grabbing attention.

Here is how I would build one with a decade in mind.

Start with businesses I genuinely understand

I would begin with ASX shares where I can explain the investment case without needing a complicated spreadsheet.

Coles Group Ltd (ASX: COL), for example, sells products Aussies buy regularly. ResMed Inc. (ASX: RMD) provides treatment for sleep apnoea, while Macquarie Group Ltd (ASX: MQG) has built expertise across banking, asset management, commodities, and investment markets.

The businesses themselves can be complex, but I want the reason for owning them to remain clear.

That makes it easier to judge whether something has genuinely changed when the share price falls.

Give the ASX portfolio several ways to succeed

I would also spread my investments across ASX shares that make money in different parts of the economy.

A portfolio dominated by one industry can perform brilliantly when conditions are favourable, but it can become uncomfortable very quickly when that sector struggles.

I would want exposure to areas such as healthcare, financial services, consumer spending, technology, infrastructure, and resources.

An exchange-traded fund (ETF) could make this easier. The Vanguard Australian Shares Index ETF (ASX: VAS), for example, provides exposure to hundreds of Australian shares through one investment.

I could then add individual shares where I have particularly strong conviction.

Leave room for growth

I think a 10-year portfolio should contain businesses that have somewhere to go.

That does not necessarily mean choosing the fastest-growing companies today.

I would look for businesses that can keep entering new markets, adding products, improving their operations, or becoming more important to customers. This might include ASX shares like Breville Group Ltd (ASX: BRG) or TechnologyOne Ltd (ASX: TNE).

A company that can repeatedly find sensible places to reinvest its money has a much better chance of being worth considerably more a decade from now.

I would also be careful not to fill the portfolio entirely with businesses that already depend on everything going right. Some balance between established companies and higher-growth opportunities can make the journey easier to tolerate.

Avoid constantly rebuilding it

There will always be reasons to change an ASX portfolio.

I would certainly sell if the investment case genuinely deteriorated. But I would not want ordinary volatility to turn a 10-year strategy into a series of short-term decisions.

Regularly adding money, reinvesting dividends, and allowing strong businesses to develop would be far more important to me than continually searching for something better.

Foolish takeaway

I think the best long-term ASX portfolio is one that gives an investor enough confidence to remain patient.

For me, that means understandable businesses, sensible diversification, room for growth, and a strategy simple enough that I do not feel compelled to keep changing it.

If I can build that portfolio and still feel comfortable owning it through difficult markets, I think I have given myself a strong chance of being pleased with the result 10 years from now.

The post How to build an ASX portfolio you can stick with for 10 years appeared first on The Motley Fool Australia.

More reading

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• By September 2027, $5,000 invested in Macquarie shares could turn into…
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Motley Fool contributor Grace Alvino has positions in Vanguard Australian Shares Index ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.