FEAR & GREED | Business News Q+A: How Australians are preparing for retirement
Sep 18, 2025
Daniel Shrimski, Managing Director at Vanguard Australia, dives into the startling findings of Vanguard's How Australia Retires report. He reveals that nearly half of working-age Australians lack a retirement plan and only 37% feel confident in their financial decisions. Topics include the trend of expecting to retire with a mortgage and the impact of rising housing costs. Daniel also offers practical advice on boosting financial literacy and the importance of checking superannuation to secure a more confident retirement.
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Many Australians Lack A Retirement Plan
- Almost half of Australians have no retirement plan, which lowers retirement confidence significantly.
- Vanguard found people with a plan are nearly three times more likely to feel confident about retirement.
Define Your Retirement Goals
- Decide what lifestyle and goals you want in retirement to make planning simple and actionable.
- You don't need perfection; a basic plan clarifies how long to budget and what to prioritise.
Low Financial Literacy Harms Planning
- Financial literacy remains weak across cohorts and blocks informed retirement choices.
- Forty percent of Australians don't even know the age they can access superannuation, undermining planning.