Page 26 - How Australia Retires

25 Vanguard | How Australia Retires

Seeking advice Figure 8. Impact of professional advice on confidence in being able to fund desired

lifestyle in retirement
leads to greater confidence Retirement confidence
in being financially Net Advised: Extremely/Very Confident 44%
prepared for retirement Net Non-advised: Extremely/Very Confident 25%

Despite the abundance of financial 13% 7%
information online and elsewhere, 18%
the study found a strong
relationship between the use of 31%
a professional financial adviser
and the retirement confidence it 38%
can inspire.
38%
Of the study participants that 20%
have received professional advice,
44% indicate they are extremely 12%
or very confident in funding 7% 17%
their retirement.
Advised Non-advised
In contrast, Australians who have
not sought professional advice, Extremely confident Positive significant diƒerence
compared to the total
only 25% report being extremely Very confident
or very confident in funding Moderately confident Negative significant diƒerence
their retirement. compared to the total
Slightly confident
Not at all confident

Q. How confident are you that you will be able to fund the lifestyle you want
Retirement confidence
in retirement?
Net Advised: Has an exact plan with all details/ 51%
has a good idea with most detail
Note: Percentages within a metric may not add up to 100 due to rounding.
Net Non-advised: Has an exact plan with all details/ 26%
has a good idea with most detail

18% 10%
16%
33%
24%

28% 23%

13% 27%
8%
Advised Non-advised

Extremely confident Positive significant diƒerence
compared to the total
Very confident
Moderately confident Negative significant diƒerence
compared to the total
Slightly confident
Not at all confident