CPD: Retirement of the future

Between now and 2028, 670,000 Australians intend to retire, taking the total number to almost five million[1]. As our total population ages, what does that mean for the future of retirement? In this article, Australia’s current and future retirement landscapes are examined.

This CPD-accredited article examines how Australians are experiencing a major societal transformation that has resulted in people living longer, healthier lives. Retirees today also tend to enjoy a more active lifestyle than any previous generation.

The enormous gains in quality and quantity of life, however, come with an implied financial cost that requires retirees to stretch their savings over multi-decade timeframes that will include unpredictable market conditions and personal challenges.

Years ago, a ‘set and forget’ approach to retirement planning may have been all that was needed to enjoy a comfortable lifestyle. But times have changed…Australia’s demographic composition is ageing, the cost of living is rising, and volatility remains an ever-present challenge. What will retirement look like in the future?

Click here to read the article and complete the quiz to receive 0.25 hours Financial Planning and General CPD.

[1] ABS, Retirement and Retirement Intentions Australia, August 2023