It’s important to keep on top of how much is in your superannuation at every milestone. How else can you make sure you’re on track with your retirement goals?

At age 65, many Australians have either already begun or are very close to retirement. By this age, you can access your superannuation balance regardless of whether you’ve decided to stop work or not, and you’re just two years away from potentially receiving the Age Pension payment too.

So, do you know how your super balance compares to other Aussies the same age?

And do you know how much money you actually need to be able to retire?

Let’s break it down.

What is the average superannuation balance of Australian men aged 65 in FY27?

There isn’t an exact figure for the average superannuation balance for men at age 65, but the Association of Superannuation Funds of Australia (ASFA) provides a helpful guide.

The average 65 to 69-year-old Australian male in FY27 has an average superannuation balance of $448,518.

What is the average superannuation balance of Australian women aged 65 in FY27?

Unfortunately, women the same age have a lot less.

The average 65 to 69-year-old Australian female has an average superannuation balance of around $392,274 in FY27. That’s a gap of over $56,000 compared to men the same age.

The gap is mostly due to women taking extended periods out of the workforce, during which time they earn lower, or even 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 do these balances compare to what I actually need to retire?

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. 

Couples will need around $730,000 combined at the same age.

Is my superannuation on track?

To be able to meet this goal, ASFA forecasts that all Australians should have around $604,500 in their superannuation by the time they reach age 65.

How does your superannuation balance compare now?

I think my balance is falling behind. What can I do?

Even at age 65 it’s not too late to try to boost your balance before you stop working.

It’s best to start by making additional contributions to your superannuation. Take advantage of additional concessional or non-concessional contributions, and this can be done via salary sacrifice or by making after-tax payments (provided they’re within your annual limits).

If you’re eligible, there are also government initiatives available that could also help you bridge the gap between the superannuation balance you have and what you need.

The post The average superannuation balance of Australians aged 65 in FY27. How does yours stack up? 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.

A $5,000 annual passive income stream from ASX shares could make a meaningful difference to many investors.

It could help cover regular expenses, fund a few extras, or simply provide more financial flexibility.

So, how would I go about building towards that amount?

How much you need for this passive income

The starting point is fairly simple. A portfolio with a dividend yield averaging 4% would need to be worth around $125,000 to generate $5,000 a year in dividends.

At an average yield of 5%, the required portfolio value falls to roughly $100,000.

I would probably aim somewhere within that range.

There are ASX shares offering much higher yields, but I would be careful about building the plan around them. A large yield can sometimes reflect concerns about the business or expectations that the dividend will eventually be reduced.

I would prefer a slightly lower starting yield from companies where I have more confidence in the underlying earnings.

What might I buy?

National Australia Bank Ltd (ASX: NAB) is the type of passive income share I would consider.

Its strong position in business banking gives it relationships with Australian companies across lending, deposits, payments, and everyday banking. I think that provides a solid base for dividends over time.

Telstra Group Ltd (ASX: TLS) could also have a place.

Mobile and internet services have become part of everyday life, giving Telstra relatively resilient demand. The company has also made a sustainable and growing dividend an important part of its long-term plans.

I would probably add a company such as Coles Group Ltd (ASX: COL) as well.

Its dividend yield may not be as high, but grocery demand is dependable and analysts expect earnings and dividends to grow over the next few years.

I like that combination because passive income does not have to mean chasing the largest payment available today. Growing dividends can become increasingly valuable over a long holding period.

Keep the income diversified

I would also spread the portfolio across several industries.

Owning only banks might produce an attractive yield, but it would leave the income stream heavily exposed to the same economic and regulatory risks.

Adding telecommunications, consumer staples, healthcare, infrastructure, or other dividend-paying businesses could make the portfolio more resilient.

Franking credits can provide another benefit for eligible Australian investors, although their value will depend on individual tax circumstances.

Once the portfolio was generating around $5,000 annually, I could take the dividends as income when I needed them. Until then, I would generally reinvest the payments and keep adding to the portfolio.

Foolish takeaway

I think a portfolio worth somewhere around $100,000 to $125,000 is a sensible starting target for generating $5,000 a year in passive income.

From there, I would focus on owning strong businesses with dividends I believe can be maintained and ideally increased over time.

For me, that is a much more comfortable way to build an income stream than simply hunting for the highest yields on the ASX.

The post How I’d target $5,000 a year in passive income from ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino 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 positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

BHP Group Ltd (ASX: BHP) shares are outperforming today.

Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed on Friday trading for $62.25. In late morning trade on Monday, shares are swapping hands for $63.00 apiece, up 1.2%.

For some context, the ASX 200 is up 0.1% at this same time.

That’s today’s price action for you.

Now, why is everyone talking about BHP shares and China?

China eyeing more control over BHP shares

China has long been the top export market for Australia’s iron ore.

Indeed, the Middle Kingdom’s voracious appetite for the industrial metal, alongside copper and coal, have helped support BHP shares over the years.

You may also be aware that the Chinese government has long been trying to increase its influence over how iron ore prices are set. And to increase the nation’s own exposure to the metal.

In the latest developments, two anonymous sources familiar with the matter (referenced by various news sources, including Reuters) said that global steel making giant China Baowu Steel Group is looking at taking a 15% to 25% stake in BHP’s Jimblebar iron ore mine, located in Western Australia.

And Australia’s opposition government is not pleased with the development. The Coalition has said that Labor must not allow foreign entities to buy one of Western Australia’s top iron ore mines.

Responding to the media speculaitons putting BHP shares in the headlines, the miner said:

BHP notes the recent media speculation regarding a potential partnership involving part of the Western Australia Iron Ore (WAIO) business.

BHP has a long history of partnerships at its assets and regularly explores options that may create long-term value to its shareholders. WAIO remains central to BHP’s portfolio and BHP remains fully committed to WAIO and to Western Australia.

What’s the latest from the miner’s WA iron ore operations?

When BHP released its full-year FY 2026 results on 18 August, the miner reported a 1% year-on-year increase in total iron ore production to 265 million tonnes.

The bulk of that came out of WAIO, which produced 257 million tonnes of iron ore in FY 2026.

BHP also achieved a 1% increase in its underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) from its iron ore division to US$14.5 billion.

Management provided FY 2027 iron ore production guidance in the range of 260 million to 272 million tonnes.

BHP shares closed up 2.7% on the day of the results release.

The post Why is everyone talking about China and BHP shares today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.