Page 18 - How Australia Retires
P. 18
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