The economy came under renewed pressure in November as inflation accelerated. The first full monthly CPI release showed annual inflation rising to 3.8% in October, up from 3.6% the previous month. The Reserve Bank kept rates on hold in November and some economists are warning a rate rise may be on the horizon, possibly before the end of the year.
Despite the uncertainty, consumers may be getting their mojo back. The Westpac–Melbourne Institute Consumer Sentiment Index surged in November to its highest level since February 2022.
Unemployment eased a little to 4.3% in October after hitting a four-year high of 4.5% in September but wage growth remains higher, prompting concern from the RBA over the continued tight labour market.
Equity markets were volatile around the world thanks to uncertainty over the growing AI bubble, rising government debt and the ever-changing US tariff regime. Surging commodity prices halted the slide of the Australian dollar in the last week of the month with gold hitting record highs and iron ore prices holding firm. The Australian dollar hit a two-week high, finishing the month at $0.653.
Market movements and review video – December 2025
Stay up to date with what’s happened in the Australian economy and markets over the past month.
The economy came under renewed pressure in November as inflation accelerated.
Higher inflation and a stronger labour market strengthened the view that the Reserve Bank of Australia’s easing cycle may have ended and fuelled speculation of a rate hike.
The ASX200 finished the month down 3%, marking its biggest drop in eight months. Major banks led the losses due to valuation concerns and fading hopes of near-term policy easing.
Global shares rose over the last week of November as the US shares rebounded on the back of increased confidence that the Fed will cut rates next month.
The positive global lead also pulled up Australian shares although they were constrained by a further rise in local inflation leading to talk that the next move by the RBA may be a rate hike later next year.
Click the video below to view our update.
Please get in touch if you’d like assistance with your personal financial situation.
Australians have $2.6 billion in unclaimed money. Here’s how to check if some of it is yours
How to search for unclaimed money
Did you know that there is around $2.6 billion in lost shares, bank accounts and life insurance in Australia?
Some of it could belong to you, and it’s free and easy to check using the unclaimed money search tool on the Australian Securities and Investments Commission (ASIC) website.
What is unclaimed money?
Under Australia’s unclaimed money laws, financial services providers and other organisations are required to send any unclaimed money to ASIC.
Once received, the money is then transferred to the Commonwealth of Australia Consolidated Revenue Fund.
ASIC maintains a register of unclaimed money and helps reunite rightful owners with funds they have lost.
Unclaimed money can include funds from:
-
Bank accounts – if the account has been inactive (no deposit or withdrawals) for 7 years.
-
Life insurance policies – become unclaimed 7 years after the policy matures and is not claimed.
-
Shares and investments – if a company cannot contact a shareholder for more than 6 years.
-
Managed investment schemes – if a member cannot be contacted for more than 6 years.
-
Deregistered companies, liquidations, and winding up of investment schemes.
Keep in mind that state governments may also hold unclaimed money from deceased estates and other sources, and they have separate tools you can use to search.
Meanwhile, the Australian Taxation Office (ATO) handles lost superannuation. You can search for lost super using the ATO’s online services in MyGov.
How to make sure your money doesn’t get lost
To ensure your money doesn’t end up on the unclaimed money register, there’s a few things you can do:
-
Make sure your details are kept up to date with banks, share registries, superannuation providers and other financial providers.
-
Check old bank accounts. If they are inactive, and you want to keep them open, ensure that there is a deposit or withdrawal within the 7-year timeframe.
-
Consider consolidating your finances, for example closing inactive bank accounts. It can make things easier to manage, and it may also help you save money on account fees.
Find lost money? Consider topping up your super
If you found that you’ve got some money owed to you, it could be an opportunity to invest.
For example, you could consider using the money to make a super contribution.
Vanguard research has shown that a single $1,000 contribution at age 30 could grow to more than $8,400 by retirement, thanks to the power of compound interest.1
If you’ve made a personal after-tax contribution to your super, you may be eligible to claim a tax deduction for it.
This allows you to treat the contribution as a concessional one, which means it’s taxed at 15% rather than your marginal tax rate and has the same after-tax outcome as if you had made a salary sacrifice contribution. For more information, visit the ATO website.
You’ll need to consider your own financial goals and personal circumstances before deciding if this strategy is right for you.
It’s also important to understand the rules and contribution limits around concessional contributions to avoid exceeding caps.
1. The above examples are illustrative only and are based on the factors stated. It should not be taken to contain or provide an estimate or forecast. This information is not a substitute for tax advice. It has been prepared based on a set of assumptions which may not be applicable to you. If you are in any doubt about your personal tax position, we recommend that you seek tax advice from a registered tax agent.
Assumes 15% contributions tax on voluntary super contributions and gross investment returns of 6.4% based on the 10-year average annualised rate of return published in the APRA Annual Superannuation Bulletin (January 2025). Past performance should not be relied upon, and is not, an indication of future performance.
Source: This article has been reprinted with the permission of Vanguard Investments Australia Ltd. Copyright Smart Investing™
GENERAL ADVICE WARNING
Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263) (VIA) is the product issuer and operator of Vanguard Personal Investor. Vanguard Super Pty Ltd (ABN 73 643 614 386 / AFS Licence 526270) (the Trustee) is the trustee and product issuer of Vanguard Super (ABN 27 923 449 966).
The Trustee has contracted with VIA to provide some services for Vanguard Super. Any general advice is provided by VIA. The Trustee and VIA are both wholly owned subsidiaries of The Vanguard Group, Inc (collectively, “Vanguard”).
We have not taken your or your clients’ objectives, financial situation or needs into account when preparing our website content so it may not be applicable to the particular situation you are considering. You should consider your objectives, financial situation or needs, and the disclosure documents for the product before making any investment decision. Before you make any financial decision regarding the product, you should seek professional advice from a suitably qualified adviser. A copy of the Target Market Determinations (TMD) for Vanguard’s financial products can be obtained on our website free of charge, which includes a description of who the financial product is appropriate for. You should refer to the TMD of the product before making any investment decisions. You can access our Investor Directed Portfolio Service (IDPS) Guide, Product Disclosure Statements (PDS), Prospectus and TMD at vanguard.com.au and Vanguard Super SaveSmart and TMD at vanguard.com.au/super or by calling 1300 655 101. Past performance information is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. This website was prepared in good faith and we accept no liability for any errors or omissions.
Important Legal Notice – Offer not to persons outside Australia
The PDS, IDPS Guide or Prospectus does not constitute an offer or invitation in any jurisdiction other than in Australia. Applications from outside Australia will not be accepted. For the avoidance of doubt, these products are not intended to be sold to US Persons as defined under Regulation S of the US federal securities laws.
© 2025 Vanguard Investments Australia Ltd. All rights reserved.
How much super should I have
How much super should I have is a common question. But when it comes to how much super (or other savings) you’ll need for retirement there’s no single right number – because everyone’s retirement looks different. It depends what your big costs are likely to be, and what sort of lifestyle you want.
No matter what you want your retirement to look like though, here are some steps that will help you work out how much you need and if you’re on track.
-
Decide on the retirement you want
-
Work out how much super to aim for
-
Check how your super balance is tracking
-
Think about whether you need financial advice
1. Decide on the retirement you want
To get an idea of how much you might spend in retirement, you can check the following:
-
The Association of Super Funds of Australia (ASFA) publishes a Retirement Standard, updated quarterly. It estimates how much you might spend in retirement, based on either a comfortable or a modest standard of living.
-
Super Consumers Australia estimate low, medium and high levels of spending in retirement, based on Australian Bureau of Statistics data on retiree spending.
Both ASFA and Super Consumers Australia also estimate the amount you should be aiming to have in your super account (or saved somewhere else) when you retire, to support your retirement spending.
What’s a ‘comfortable’ retirement?
A comfortable retirement, according to ASFA, is about more than covering the basics. It means you enjoy a good standard of living and have money for:
-
annual domestic trips and one overseas trip every seven years
-
regular hobbies and social outings
-
occasional restaurant and takeaway meals
-
top level private health cover and unexpected medical costs beyond what Medicare covers
-
a reliable car, petrol and maintenance
-
home maintenance and appliance updates
-
utilities like power, water, gas and council rates
-
internet, phone, computer, and streaming services.
2. Work out how much super you should aim for
ASFA suggests what your super balance should be at age 67 for either a modest or comfortable retirement. It takes into account Age Pension, where applicable, and assumes you own your home outright unless noted.
|
Estimate |
Savings at age 67 (single person) |
|
Comfortable retirement |
$595,000 |
|
Modest retirement |
$100,000 |
|
Modest retirement if renting |
$340,000 |
|
Source: ASFA’s Retirement Standard, accessed October 2025. You can read all the calculation assumptions on ASFA’s website. |
|
Super Consumers Australia estimates your savings target at age 65. It takes into account the Age Pension, where applicable, and assumes you own your home outright.
|
Estimate |
Savings at age 65 (single person) |
|
Low spending |
$75,000 |
|
Medium spending |
$310,000 |
|
High spending |
$876,000 |
|
Source: Super Consumers Australia, accessed October 2025. You can read all the calculation assumptions on the SCA website. |
|
It’s important to say that these amounts are guides, not strict targets, as everyone’s situation is different.
3. Check how your super balance is tracking
How do real superannuation balances compare to the estimates above? The Australian Prudential Regulation Authority (APRA) tracks average super balances across age groups.
|
Age group (years) |
Average balance |
|
30–34 |
$50,400 |
|
35–39 |
$80,900 |
|
40–44 |
$112,500 |
|
45–49 |
$144,400 |
|
50–54 |
$181,400 |
|
55–59 |
$223,900 |
|
60–64 |
$252,700 |
|
Source: APRA Quarterly Superannuation Statistics, June 2025 |
|
These are averages only. Some people will have more, others less. How does your super balance compare to your age group above?
Make a note to check your super at least once a year. Here’s a list of things to keep an eye on. If you don’t understand any details about your super account, call your super fund and ask questions.
4. Get financial advice if you need it
Planning for your retirement can be complex. Think about getting personalised advice from us can help you plan ahead.
Knowing how much super you need to retire, how your balance compares to others your age, and whether you’re on track for the retirement you want, is an important first part of planning your future.
Ready to plan?
Now you know what you’re aiming for, use the Moneysmart retirement planner to estimate:
-
how much money you’ll have to spend each year once you retire
-
how fees, investment options and contributions will affect your retirement income
You can also use the planner to test out different scenarios and work out how to grow your super.
For a more detailed idea of how much super you will have at retirement, contact us today.
Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at https://moneysmart.gov.au/plan-for-your-retirement/retirement-planner
Important note: This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person. Past performance is not a reliable guide to future returns.
Important
Any information provided by the author detailed above is separate and external to our business and our Licensee. Neither our business nor our Licensee takes any responsibility for any action or any service provided by the author. Any links have been provided with permission for information purposes only and will take you to external websites, which are not connected to our company in any way. Note: Our company does not endorse and is not responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.
