Australia’s retirement landscape is changing. According to the Australian Bureau of Statistics, by 2032, there will be more Australians over 65 than under 18, marking a significant demographic shift. While we’ve built a world-class superannuation system worth over $4.1 trillion[1], many retirees still struggle with a crucial question: how do I turn my savings into confidence?
The gap between saving and spending
The Superannuation Guarantee is now 12%, meaning retirees who have recently left the workforce are wealthier than any previous generation, but the transition to retirement often brings anxiety rather than excitement. According to Challenger’s recent Retirement Happiness Index, two in five Australians aged over 60 rank running out of money as one of their top retirement concerns, second only to maintaining good physical health.
The confidence gap: Advised vs Unadvised
The difference professional financial advice makes is striking.
Unadvised Australians are twice as likely to be extremely or very worried about outliving their retirement savings compared to those who have sought advice, 35% versus 19%[2]. The research also shows that Australians with professional financial advice report higher happiness levels (73.9%) compared to those without (64.4%).
The benefits of advice extend beyond financial peace of mind:
- Mental wellbeing: 82% of advised Australians report good mental health, compared to 72% of those without advice.
- Knowledge confidence: 72% of advised retirees feel confident about their retirement financial knowledge, versus just 46% of the unadvised.
Pre-Retirees need support
Those approaching retirement face unique anxieties. Pre-retirees are significantly more worried about financial issues than current retirees:
- 46% worry about not having enough money to do what they want (compared to 34% of retirees)
- 44% fear running out of money in retirement (compared to 33% of retirees)
This is where financial advice proves most valuable, in navigating the critical transition from accumulation to drawing down their savings with confidence.
What retirees really want
The research is clear: Australians crave income certainty. With 78% aged over 60 saying they’d be happier with a guaranteed income for life. This isn’t just wishful thinking; it’s driving real behaviour. Recent CoreData research shows that product adoption has surged 150% since 2023.
Your Retirement, Your Confidence
Retirement should be a time of opportunity, not anxiety. While building wealth is important, converting that wealth into a reliable income and genuine confidence requires guidance and planning.
Professional financial advice isn’t just about managing money. It’s about creating the certainty and confidence you need to truly enjoy the retirement you’ve worked so hard to achieve.
We can help build a plan that turns your superannuation into the retirement lifestyle you envision, with the peace of mind that comes from knowing your money will last.
The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional. We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.
[1] https://www.apra.gov.au/news-and-publications/apra-releases-superannuation-statistics-for-march-2025
[2] https://www.challenger.com.au/individual/Campaigns/Happiness-Index