Is it too late to save for retirement in your 50s or 60s? For most women, the answer is no. You may not need nearly as much super as you think, and the next 10 years can make a much bigger difference than you’d expect.
“I’ve left it too late” and “I’m never going to have enough” are two of the most common things Naomi and Helene hear from women in the Her Money Matters community. In this episode, Naomi and Helene tackle both fears head on. They look at the real numbers, and at the mindset that keeps so many women from even looking at their super.
You’ll meet three women at three different stages:
- Kate, 49, is recently divorced with two kids. She has $80,000 in super and $320,000 from her property settlement. Should she buy a home or focus on super?
- Jo, 52, has run her own small business for 14 years and has barely paid herself any super.
- Linda, 60, is convinced she’s out of time and will “have to work until she drops.”
Kate, Jo and Linda are illustrative examples created for this episode, not real clients.
In this episode we cover:
- Why the $1 million retirement figure is a myth, and what ASFA says you actually need
- How the Age Pension, your home and your super work together
- Why owning your home is one of the biggest factors in a secure retirement for women
- Catch-up strategies, including salary sacrifice, personal deductible contributions and carry-forward contributions
- What small business owners and sole traders need to know about paying themselves super
- How child support and Family Tax Benefit can help after divorce, and why they come with a use-by date
- Your 10(ish) year retirement countdown: what to do at 10 years out, 5 years out and in the final 1 to 2 years
- The ostrich effect, fresh starts and future-self thinking, plus why avoiding your super makes the fear bigger
- Five rapid-fire retirement myths, busted
Key numbers from the episode:
- Only 41% of Australian women feel financially confident about retirement, compared with 59% of men. 73% of women worry they won’t have enough super (AMP, 2025).
- The median super balance for women aged 60 to 64 is $174,655, about 26% less than men the same age (ASFA, August 2026).
- 42% of Australians think they need more than $1 million to retire comfortably. ASFA’s comfortable figure is about $630,000 for a single person and $730,000 for a couple.
- 94% of Australians who retired in the past five years did so with less than $1 million in super (AustralianSuper/YouGov, 2025).
- The full Age Pension for a single person who owns their own home is $1,237.70 a fortnight, about $32,000 a year (from 20 September 2026).
So send this episode to your sister, your best friend or the colleague who has ever said “I’ve left it too late.” She deserves to know the story isn’t finished yet.
Important information
This episode contains general information only and does not take into account your personal objectives, financial situation or needs. It is not financial product advice, and it is not medical, psychological or therapeutic advice. Before acting on anything discussed, consider whether it’s appropriate for your circumstances and seek advice from a qualified professional.
NGS Super is a sponsor of this episode. Sponsorship does not influence the general information shared, and nothing in this episode is a recommendation of NGS Super or any other super fund.
The case studies in this episode are illustrative examples, not real people. Projections assume a return of 7% a year after fees, before inflation which is the 10 year historical performance for a typical ‘default fund’ super performance as at 30 June 2026. They’re simplified examples of how the rules work, not predictions. Investment returns are not guaranteed and will go up and down.
Naomi Holmes and Her Money Matters are licensed by Alethea Partners Pty Ltd, AFSL 557729.
