Midway through your career? Probably got a lot on your plate. A mortgage, school fees perhaps, caring for ageing parents. If you can manage it, though, squeezing in a little time for retirement planning now can make a big difference down the road.
Small adjustments are all that’s needed, and here I walk you through precisely what that entails so that you can confidently answer the question: “Am I on track for retirement?”
What “on track” really means
Most people think being “on track” means hitting a single magic number. In reality, it’s about having a plan that takes into consideration:
- the age you want (or need) to finish full-time work
- the lifestyle you want in retirement
- your expected sources of income (super, other investments, possibly Age Pension)
- the risks you want to protect against (health, job disruption, family responsibilities)
The mid-career check-in (5 easy steps)
Most of us have an idea of what we want our retirement to look like. However, asked to articulate that idea, we typically struggle. I find the best way to come up with a more tangible idea that can be planned for is to go through the following five-step process.
1) Choose a realistic retirement target (age + lifestyle)
Start with two questions:
- When would you like work to be optional? (For some it’s 60, for others it’s 67 or later.)
- What does “comfortable” mean to you? Travel? Renovations? Helping kids? Private health cover?
Quick tip:
If your retirement started tomorrow, what are the three things you’d still want to be able to do each year?
That one question helps you move from vague worry to a clearer target.
2) Review your super: balance, contributions, fees and investment option
For many Australians, super will be a core retirement asset — and mid-career is when super often shifts from “background” to “serious money”.
Do a quick audit:
A. What’s your current balance?
Log in and note the figure (and your spouse’s, if relevant).
B. Are contributions landing consistently?
The Superannuation Guarantee rate is 12% in 2025–26.
(If you’re employed, you should generally see contributions appearing regularly. If something looks off, it’s worth checking.)
C. Fees and insurance inside super
Super fees and default insurance can be fine — but they should be intentional, not accidental. This is a good time to confirm:
- you’re not paying duplicate fees across multiple funds
- insurance levels still make sense for your life stage
D. Investment option (risk level)
Your super is invested. The option you’re in can materially affect long-term outcomes — especially over 10–25 years. You don’t want to set it and forget it for decades without review.
3) Compare your trajectory against a benchmark (without obsessing)
Here’s a simple way to sense-check progress:
- MoneySmart, the Australian government’s financial guidance website, provides tools and benchmarks for retirement planning. Use a reference point to decide on a benchmark for the goal you want to achieve – modest vs comfortable lifestyle.
- Then ask: “If I keep going as I am, what does my balance look like at 60, 65, 67?”
Many super funds provide projections. You can also use calculators, but treat projections as estimates — not promises.
Important: Benchmarks are not pass/fail.
They’re a conversation starter that helps you decide whether to tweak contributions, retirement age, spending, or investment settings.
4) Understand the big levers you can still pull halfway through your career
If your check-in suggests you’re behind (or you just want more confidence), the biggest levers are usually:
1) Contributions (without blowing your budget)
Even modest additional contributions can help over time. Just be aware that concessional (before-tax) contributions have caps. The ATO states the general concessional cap is $30,000 (from 1 July 2024).
(These caps include employer contributions, so it’s worth understanding the total going into super.)
2) Time (working longer or tapering to part-time)
A shift from “retire early” to “make work optional earlier, then reduce hours” can be a powerful strategy — and often feels more achievable.
3) Spending and debt in the final 10–15 years
You don’t need to live like a monk. But getting clear on:
- how much debt you expect to carry into retirement
- how much flexibility you have in spending
…can quickly improve confidence and reduce stress.
4) Getting the Age Pension facts right (where relevant)
A lot of Australians will be eligible for some level of Age Pension, depending on the income and assets tests. The Age Pension age is 67.
If you’re approaching that age, even if you think you won’t qualify, it’s worth understanding how the rules interact with retirement income planning.
5) Turn the check-in into a simple 12-month plan
This is the step most people skip. They gather information… then do nothing with it.
A simple 12-month retirement “on track” plan might include:
- One super review task (contributions + investment option + fees/insurance)
- One cashflow task (build/refresh an emergency buffer, or set up a “known expenses” fund)
- One retirement projection update (review progress every 6–12 months)
- One “life admin” task (beneficiaries, wills/estate documents, or a family planning conversation)
If you only do one thing after reading this article, do this:
Put a recurring calendar reminder for a retirement check-in every January. Consistency beats intensity.
Quick checklist: the “Am I on track?” questions
Ask yourself:
- What age do I want work to be optional?
- What lifestyle do I want (modest vs comfortable — and what that means for me)?
- What is my current super balance (and my partner’s)?
- Are contributions being paid correctly (SG is 12% in 2025–26)?
- Do I understand my super fees, insurance and investment option?
- What debt do I expect to carry into retirement?
- What are my next two practical actions for the next 12 months?
If you can answer those, you’re already ahead of most people.
A final note from me
In my experience, the biggest retirement breakthroughs don’t come from “hot tips”. They come from getting the basics right — and then reviewing them regularly.
If you’d like help turning your numbers into a clear, workable long-term strategy —including retirement timing, super, Centrelink, and risk protection— Pride Advice can help you map it out in a way that is easy to follow and simple to understand.
Getting your retirement on track is about small, manageable steps taken now, when life seems busiest. We can help.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a qualified financial adviser for personalised recommendations.