Retirement
Empty nesters, young people most cheerful about retirement
Young Australians without children, couples with older children and empty nesters are the most hopeful about retirement, but single parents are at the other end of the spectrum.
Empty nesters, young people most cheerful about retirement
Young Australians without children, couples with older children and empty nesters are the most hopeful about retirement, but single parents are at the other end of the spectrum.

ME Bank’s Household Financial Comfort Report has revealed that while general regard for retirement prospects remained unchanged in the six months to December 2017, some groups are more positive about the future than others.
Retirees and young singles or couples without children reported the highest score when it came to their “anticipated standard of living in retirement”, up to 5.44 out of 10. That’s an increase of 2 per cent.
Simultaneously, single parents’ positivity about retirement fell by 16 per cent to 3.90 out of 10 in the six months to December 2017.
Meanwhile, empty nesters and couples with older children reported the largest improvements in outlook, with empty nesters up 7 per cent to 5.05 and couples with older kids up by 3 per cent to 5.31.

Additionally, ME Bank revealed that more households plan on funding their retirement themselves.
About 22 per cent predict they will fund their retirement using their own superannuation, marking a two point increase.
At the same time, the number of households that expect to rely on the government pension fell by one point to 20 per cent.
The percentage of households likely to use both income plans dropped by two points to 40 per cent, meaning a combination of the government pension and superannuation remains the most popular predicted source of income.
ME Bank continued, “Across households, ‘single parents’ (17 per cent) reported the lowest expectations in solely funding retirement with their superannuation, while ‘young singles/couples over 35 years with no children’ and ‘empty nesters’ recorded the greatest confidence (both at 28 per cent).
“By gender, 26 per cent of men compared to 18 per cent of women expected their household to be able to ‘fund retirement with their own superannuation’.”
While the superannuation and retirement outlook is a mixed bag, the mortgage and rental stress picture is less cheery.
Fifty-six per cent of households either renting or paying off a mortgage are contributing more than 30 per cent of their disposable income towards the cost. Noting that this is a common marker of financial stress, ME Bank added that 72 per cent of renters are spending 30 per cent or more of their disposable income on their rent.
Additionally, 38 per cent of households reported that they are “worried about their level of debt in the past month”.
Commenting on the findings, ME consulting economist Jeff Oughton added, “Households’ comfort with paying their monthly living expenses fell 3 per cent to 6.40 out of 10 during the six months to December 2017, the lowest it’s been since mid-2014.
“In fact, ME’s latest report shows many households’ financial situation is getting worse and again the culprit is living expenses, with 40 per cent reporting this as a key reason their situation is worsening.”
He warned that if interest rates increase, it could trigger mortgage defaults, particularly for low-income households.

Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more

Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more

Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more

Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more

Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more

Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more

Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more

Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more

Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more

Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more

Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more

Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more

Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more

Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more

Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more

Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more