Work, Money, Lifestyle: Plans of Australian Retirees
13 Pages Posted: 17 Jan 2013
Date Written: November 1, 2012
Existing research shows that adjustment to retirement is correlated with pre-retirement planning. This study presents new insights into the retirement preparedness of Australians at the later stages of working life. Recent surveys of those approaching and entering retirement show that the extent of planning around exiting the workforce, financial management, bequest provision and activities during retirement vary greatly. We find that more than half of Australians in their 50s and 60s have not planned key aspects of retirement. A small minority have detailed and advanced plans. In addition, expectations around these issues and actual realisations may not be well matched.
Keywords: Australian retirees
JEL Classification: G23, G28, D14
Suggested Citation: Suggested Citation