Page 17 - How Australia Retires

16 Vanguard | How Australia Retires

Table 2. Respective attitudes of working-age Australians and retirees towards retirement, by segment

Lacking Direction Aspiring Passives Late in the Game Highly Confident
8% Professionals 30% 29% 5% 29%
Feelings About Don’t associate Associate Neutral feelings Worried about Associate
Career and profession with profession with about retirement retirement profession with
Retirement identity identity identity
Unsure and worried Highly positive
about retirement feelings toward
retirement
Retirement Have done little Have general idea Have general idea Unsure of how to Prioritise savings
Planning and to proactively of how to prepare of how to prepare get to retirement 1 in 3 make regular
Research plan/prepare for for retirement for retirement lifestyle wanted contributions to
retirement
Most likely to say Only 1 in 4 Least likely to superannuation
info/guidance making regular budget
would be helpful contributions to
superannuation Finds thinking
about retirement
uninteresting
Goals and More likely to say High income Beginning to lower Age Pension is Superannuation
Retirement Age Pension is wanted in expectations about biggest piece of is biggest part of
Strategy part of retirement retirement retirement income retirement plan their retirement
plan than plan
superannuation Much lower
expectations for Highest income
income during wanted in
retirement retirement
Demographics

Female 68% 53% 45% 56% 47%
Male 31% 47% 55% 43% 53%
Non-binary/ <1% 1%
prefer not to
answer
18–34 26% 41% 27% 11% 31%
35–54 25% 36% 38% 12% 34%
55–74 29% 19% 28% 51% 28%
75+ 21% 4% 8% 27% 8%

Employed 17% 51% 46% 12% 47%
full time
Living with 27% 41% 27% 19% 32%
kids