Planning for retirement isn’t just about setting aside money; it's about having a vision for your future. Surprisingly, one in three Australians retire without a concrete plan, and only 39% have a good understanding of the financial requirements needed for their desired retirement lifestyle.
The good news? We found that those who do plan thoroughly are over four times more likely to feel confident in their retirement. Dive into the data as we explore the impact retirement planning can have on an individual's confidence and peace of mind during retirement.
The folks at Vanguard have produced a report about retirement in Australia, which has some great insights. It's a great overview of the things important to retirees and areas they should be focusing on. Have a read and let us know what you think.
Key insights from this year’s report include:
1 in 2 Australians don’t know if their money will last in retirement, with the majority believing they’ll likely outlive their retirement savings
40 per cent of Australians have no clear plan for retirement
1 in 5 Australians said they did not need a financial adviser right now but they would consider consulting one later.
24 percent of Australians said they would be open to consulting a financial adviser in an ongoing relationship and 25 per cent in a one-off setting (with 5 per cent open to both)
Click here to read the full report.
Visit the Vanguard 'How Australia Retires' hub by clicking here.
Post courtesy of Vanguard Investments Australia Ltd (ABN 72 072 881
086 / AFS Licence 227263)
Reproduced with permission of Vanguard Investments Australia Ltd
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