We are pleased to present you with a report from Vanguard – ‘How Australia Retires’, which is a study exploring Australians’ attitudes towards retirement and how they feel about this phase of life.
Included in this report are findings showing:
- How younger Australians are redefining work and the path towards retirement;
- How expectations of retirement differ from the reality;
- How confident Australians feel about retiring, and the factors that make someone either highly confident or not;
- How financial advice positively impacts retirement confidence;
- The central role of superannuation in retirement savings, but also how engagement with super remains a challenge
Australians with the highest confidence about their future retirement tend to take the most purposeful action to prepare, which may include accessing advice, having a detailed plan or making regular extra contributions to their superannuation.
Meanwhile, those with the lowest confidence about retirement tend to be the least actively prepared. Often, they have never accessed advice, have little understanding of how they can achieve their retirement goals, and expect to be more reliant on the Age Pension after they retire than those with higher retirement confidence.
