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17        Vanguard   |   How Australia Retires









           Between these five segments, clear differences in retirement confidence
           were evident, which indicates which of the two journeys (Low Confidence
           Journey or High Confidence Journey) the participant is likely to take or
           have taken towards retirement.



           Table 3. Retirement journeys by segment


           Note: Percentages within a metric may not add up to 100 due to rounding.

                                                 Low Confidence Journeys                      High Confidence
                               People on these journeys are much less confident about their retirement.    Journey
                               Each is different in their general attitudes and may have different needs.  This is a more ideal
                                                                                              path for people
                                                                                              interested in
                                                                                              maximising their
                                                                                              retirement readiness.

           Segment Name   Lacking Direction  Aspiring       Passives         Late in the Game  Highly Confident
                                           Professionals
           Confidence in   16%             29%              22%              23%              49%
           Retirement
           (% Very/Extremely
           Confident)
           Segment        This group is the   This group has   This group    This group skews   The most confident
           Description    least confident in   the highest   has middling    much older; they   group; they can
                          their retirement   income goals for   expectations for   don’t know what to  help Australians
                          and don’t know   retirement among   their retirement   do to improve their   understand good
                          what to do to get   segments in the   income; they’re   retirement income   behaviour
                          closer to their   low confidence   toward the middle   and may have a
                          retirement goals  journeys and skew   of taking action   higher sense of
                                           youngest         toward it        urgency
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