subscribe to our newsletter sign up

Nearly half of Aussies hold no retirement assets outside super

Retirement planning, retirement management, retirement savings, wealth planning, wealth management, superannuation, Australian Unity, David Bryant

A survey conducted by Australian Unity found that 47 per cent of Australians nave no investments outside of their superannuation savings.

Those that have made additional investments tended to focus their capital in three key areas; Australian shares, residential property, and term deposits, Australian Unity’s Empirica Retirement Planning Research survey found.

Additionally, only 51 per cent of those yet to retire believe they’re currently using the best investment products available to them, the survey found.

“Among pre-retirees, those that don’t [believe they’re using the best available products] generally cited lack of knowledge around how to do so, a bad experience with a financial adviser in the past, or not having enough money to invest,” Australian Unity said.

David Bryant, the company’s chief executive, said many Baby Boomers still don’t understand superannuation and don’t have a plan for their retirement.

“The data shows most Baby Boomers have little strategy and insufficient funds to provide for the lifestyle they want in retirement,” he said.

However, Mr Bryant maintains that those approaching retirement still have time to reinforce their savings and prepare for life after work.

“Someone five to 10 years off retirement still has time to make the right decisions now to put in place steps to help ensure they are preparing for their future,” he said.

Data taken from Nest Egg’s own Retirement Sentiment Survey found that Australians who held additional investments outside of their super were more confident that they would be comfortable in retirement.

Nearly half of Aussies hold no retirement assets outside super
nestegg logo
Promoted Content
Recommended by Spike Native Network
Jo public - This is the home of a guy who judges other peoples taste on national television???....
Philip - Perth - Anonymous, below is the one who doesn't know how this works. Company tax is NOT tax on shareholders - it's tax on the activity of the company AND.......
DJ - The ease of importing already skilled labour has also distorted the training & employment of locals as its now easier for business to import rather.......
Wildcat - The reason we are such a low taxing country is less than 50% of the population pays any net tax at all. More than 50% of the tax revenue is paid by.......