The 40s Wake-Up Call
Our 40s are a fascinating decade. We’re no longer “just starting out.” We’re not quite at the finish line either. There’s usually more stability: higher earnings and clearer goals. Yet, for many women, the 40s also bring a confronting reality check. We start to see the gender superannuation (super) gap up close. On average, Australian women retire with 25-30% less super. Career breaks, part-time work, and caregiving all take their toll. But here’s the truth: it’s not too late to catch up. In fact, the 40s can be one of the most powerful decades for rebuilding momentum.
The Frugal Doctor considers superannuation to be an important part of the financial independence portfolio. Even taking into consideration that this money is not accessible until age 60. I like to look at the FIRE (Financial Independence Retire Early) portfolio in two. I use a spreadsheet created by Passive Investing Australia to help come up with target amounts. The outside superannuation portfolio is to supply funds between early retirement and up to age 60. Then superannuation is to kick in from age 60 onward. Being a high income earner the tax savings of super can’t be ignored. It makes sense to maximise super contributions as this reduces tax. It’s not too late to catch up on superannuation if you are in your 40s. There are at least two decades of compounding to be gained.
My Turning Point: Re-engaging With Super
I initially reviewed my super after reading The Barefoot Investor in 2016. It highlighted the importance of fees and investment options. Unfortunately I am not sure what my balance was at that time. I can track back my superannuation from December 2018 when my balance was $62,781. I would review my superannuation again seriously in 2021. As a sole trader, I realised that pay yourself first included superannuation. I had not been making much of contributions as I did not have an employer. The super crossed $100,000 in March 2021. I started using my five year catch up contributions in the financial year 2021/2. Since then I have aimed to maximise the contributions in each financial year. I reviewed the superannuation again in October 2023 after obtaining financial advice. At that time, I had 3 Indexed Investment options: Australian, International, and Mixed. They suggested I change to 43% Australian Indexed and 57% International shares Indexed. In July 2025, The Frugal Doctor became more committed to a ‘buy the whole world’ approach. As a result, I changed to 100% Indexed International Shares. My superannuation balance is now $331,434.
Smart Moves to Boost Your Super in Your 40s
If you’re in your 40s, you still have around two decades or more of compounding ahead. That’s a powerful window to make meaningful changes. The key is to start small. Make consistent steps that align with your goals. Here are some smart, doable actions to help you build momentum:
1. Review your investment mix.
Many super funds default to balanced or conservative options. If your retirement horizon is 15–25 years away, consider whether a growth or high-growth option might be more appropriate. The higher long-term returns can make a big difference.
2. Consolidate multiple accounts.
If you’ve changed jobs over the years, you may have more than one super fund. Consolidating reduces duplicate fees and simplifies tracking.
3. Make use of catch-up contributions.
If your income allows, you can “catch up” on unused concessional (before-tax) contribution caps from the previous five years. It’s a great way to give your balance a boost later in life.
4. Automate small salary sacrifices.
Even an extra 3–5% of your salary adds up significantly over time. Think of it as paying your future self first.
5. Check fees and insurance.
Fees compound just like returns only in the wrong direction. Make sure you’re not paying for unnecessary insurance or excessive administration costs.
6. Consider spouse contributions.
If one spouse is shouldering the unpaid caregiving. The other spouse can make contributions and get a tax offset for doing so.
7. Track your progress annually.
Log in to your super portal at least once a year, check your balance, and run a projection. Small course corrections now can lead to big results later.
Why It’s Not Too Late
It’s easy to feel behind when you see comparison charts or hear others’ balances. But your 40s are a decade of opportunity. You have more financial knowledge, more stability, and often more capacity to contribute. Compound growth still works its magic here. Every dollar you add today will keep working for you for the next 20–30 years. And while the best time to start was yesterday, the second-best time truly is now. Your 40s can be the perfect time to course-correct. That is turn awareness into action and momentum into confidence.
Superannuation and the Time Rich Life
Superannuation is more than just a retirement account for me. It’s part of the bigger picture of building wealth on your own terms. It signifies security, choice, and time freedom in the decades to come. When managed well, it lays the foundation for your future adventures. It supports your peace of mind. It underpins your version of a time rich life. We can’t change when we start, but we can change how we start paying attention. Superannuation might not be exciting, but future-you will thank you for every extra dollar you tuck away today. Take a moment today to check in with your super. Make one small decision. Move a step closer to the life that future-you will be grateful for.