Author Topic: Superannuation Balance and Age  (Read 5895 times)

annapana

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Superannuation Balance and Age
« on: January 16, 2019, 03:50:06 PM »
Hi all,

Iíve always been so curious, wondering if others are open to share.  Iíll go first.

Age 38
Balance 246k

I have been adding extra contributions for quite some time but maxing out for the past 5 years or so.

mjr

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Re: Superannuation Balance and Age
« Reply #1 on: January 16, 2019, 05:22:15 PM »
Age 53, $1.3 million.

However, I contributed the full non-concessional 3 year bring-forward amount of $540k in 2017 before they lowered the cap.  Ignoring that one-off, my balance was $504,000 when I was 51.

marty998

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Re: Superannuation Balance and Age
« Reply #2 on: January 16, 2019, 11:46:33 PM »
Age 32 (almost 33)... $171k.

Started salary sacrificing in 2014 when my balance was about $50k.

My records suggest about $50,000 of the total balance comes from investment returns after fees and insurance, half of that since June 2017.

The graph attached has always ever only gone up - measured in 6 monthly periods - I've never had a 6 month period where the balance has declined. The last 6 months I had contributions of $13,500 but the balance only went up $550 due to the poor market returns. It's already bounced back quite strongly in the last two weeks (as I am heavily weighted to equities).

14 years of data is interesting, but it will be even more interesting to see it in 14 years time :)

annapana

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Re: Superannuation Balance and Age
« Reply #3 on: January 19, 2019, 01:05:48 PM »
Thanks for sharing and well done !!

annapana

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Re: Superannuation Balance and Age
« Reply #4 on: January 19, 2019, 01:08:00 PM »
@marty998 it would be cool to track - are you open to sharing your spreadsheet ?

marty998

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Re: Superannuation Balance and Age
« Reply #5 on: January 19, 2019, 01:09:10 PM »
@annapana I'll sanitise it and just send that tab - quite a bit of other sensitive data in it :)


marty998

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Re: Superannuation Balance and Age
« Reply #6 on: January 19, 2019, 01:15:26 PM »
Here you go, have a play around with it :)

(Sheet edited to remove links and fix formulas)
« Last Edit: January 20, 2019, 01:34:11 AM by marty998 »

Wadiman

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Re: Superannuation Balance and Age
« Reply #7 on: January 21, 2019, 06:09:32 PM »
Me - 52 and $430k (left it a little too late for salary sacrificing!)

Have been very happy to have set-up a SMSF which has allowed me to invest in unlisted property trusts that are providing good growth and income.

Plan to do some NCC once I sell an IP.

Frugalroogal

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Re: Superannuation Balance and Age
« Reply #8 on: January 22, 2019, 12:35:00 AM »
31 and super balance is $156 000. Balance was at $163 000 six months ago :-(. Thatís what you get for choosing an aggressive option. Pretty sure aggressive will pay off by the time Iím 60.

itchyfeet

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Re: Superannuation Balance and Age
« Reply #9 on: January 22, 2019, 01:26:10 AM »
Me: 47 with ~$700K
DW: 42 with ~$180K

We have been OS for the past 4 years so have stopped contributing anything for the time being. We will start contributing again when we return to Oz, although prob wonít be working.

I got lucky with my Super by being in a defined benefit scheme from age 19 to 31, contributing a high % myself and benefiting from high pay rises over that period. The result was a big amount in the scheme when I left the scheme (calculated as a multiple of my final few years earnings which were far higher than the preceding years). The amount is now in ďpreserved modeĒ earning market returns. It was a great start to my super savings. From 31 I have been on a decent salary and employer had always contributed 12% for me even though SGL was lower during that time.

MrThatsDifferent

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Re: Superannuation Balance and Age
« Reply #10 on: January 26, 2019, 03:18:09 PM »
Well I feel like a super loser now (no pun intended). I didnít really get super, had way too many accounts eating fees and never thought about salary sacrifice. My super is quite low for my age, especially compared to you all. Embarrassing. Not much I can really do about it now but Iím at the max for concessional and Iíll add some with the bring forward rule when I pull the plug.

potm

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Re: Superannuation Balance and Age
« Reply #11 on: January 27, 2019, 06:41:09 AM »
Age 30
Balance 187k

I've been maxing concessional contributions for a few years now. Always been invested in 100% equities.

chasingthegoodlife

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Re: Superannuation Balance and Age
« Reply #12 on: January 27, 2019, 03:29:04 PM »
Age 35
Balance 81k

Low because:
1) I worked overseas for a few years and then withdrew what I had contributed towards that country's pension scheme and used towards buying my first home.
2) Lowish earning profession - community sector.
3) I've only started making additional contributions within the last few months, the vast majority of my stash is outside super.

Recently I played around with the Aussie FireBug super/ex-super spreadsheet that someone else here recommended (thank you, whoever you were) which pretty much said: Your ex-super stash is enough to support you until your preservation age. You need to start throwing all your salary into your super. So I've made a start on that.

Despite the missed tax advantages I'm not sorry to have kept most of the stash outside super until now. It's given me a lot of flexibility and security. Now to wrap my head around super rules.

Model96

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Re: Superannuation Balance and Age
« Reply #13 on: March 16, 2019, 07:00:04 AM »
Age 51, balance about $900K. Parked the super in a smsf property and loan which was even better than any defined benefit scheme.

kiwiozearlyretirement

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Re: Superannuation Balance and Age
« Reply #14 on: March 19, 2019, 09:31:37 AM »
age 45 super balance 600000

but contributed to dp super as he reaches preservation age before me. Started with the 540 before 2017 -balance 630000

plan to max it every 3 years for both of us

bigchrisb

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Re: Superannuation Balance and Age
« Reply #15 on: March 20, 2019, 07:25:00 AM »
37, balance about $800k. Made additional pre-tax contributions since 2006, and maxed pre tax since 2008. Industry fund until 2013 then smsf. Since hitting my FI number I have also been maxing substantial post tax contributions.

chouchouu

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Re: Superannuation Balance and Age
« Reply #16 on: April 21, 2019, 03:34:27 AM »
I have 21k and am 36. Moved overseas a year after graduating and only returned to work last year after looking after the kids. This time last year it was around 5k. I only earn 48k a year so the 10k I salary sacrifice is quite large for me, especially paying Sydney rent.

afah0447

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Re: Superannuation Balance and Age
« Reply #17 on: May 06, 2019, 06:25:24 AM »
39 years old - $122,309

HomewardBound

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Re: Superannuation Balance and Age
« Reply #18 on: May 06, 2019, 06:44:06 AM »
Age: 46
Balance: $1.1M

Having lived overseas for 20 years that's in both Super and a UK SIPP (a Self Invested Personal Pension which is not accessible until age 55).

Frugalroogal

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Re: Superannuation Balance and Age
« Reply #19 on: May 06, 2019, 02:03:10 PM »
31 and super balance is $156 000. Balance was at $163 000 six months ago :-(. Thatís what you get for choosing an aggressive option. Pretty sure aggressive will pay off by the time Iím 60.

Happy to report that Iím now over $170 k and hopefully will stay there.