Are you, or perhaps your parents, looking forward to retirement but uncertain about the future? You’re not alone. Recent research for the 2024 Investment Trends Retirement Income Report shows that many Australian pre-retirees are concerned that they are not feeling well-prepared for retirement.

Understanding your situation

The landscape of retirement planning is changing. While many of us dream of a comfortable retirement, recent studies show that fewer Australians feel prepared for this important life stage. The good news? Understanding where you stand is the first step toward building confidence in your retirement future.

The importance of seeking professional advice

Despite 15.8 million adults wanting some form of financial advice, according to Investment Trends, the number seeking advice has significantly reduced. Australians are typically delaying their retirement plans and contributing more to superannuation, rather than consulting a financial adviser.

Taking action positively correlates with a greater feeling of preparedness and confidence

While many Australians are choosing to go it alone, those who seek professional advice often report feeling more confident about their retirement. Financial advice can play an essential role in helping Australians transition from full-time work to retirement, navigating the complexities of superannuation, tax, and social security systems. These strategic advantages can make a substantial difference in the financial wellbeing of retirees.

Think of a financial adviser as your personal retirement coach – someone who can help turn uncertainty into clarity and concerns into confidence. This confidence is not just a matter of perception, but it is backed by data. The CFS Empowered Australian Report 2023 found that 65% of advised Australians feel confident they will have enough money to retire, compared to just 44% of those without advice.

Your next step

Do you have any family or friends approaching retirement who may be uncertain about their retirement readiness? We’d love the opportunity to be of real value to them as they approach retirement. After all, retirement confidence could be the greatest gift of all.

The information contained in this article is general information only. It is not intended to be a recommendation, offer, advice or invitation to purchase, sell or otherwise deal in securities or other investments. Before making any decision in respect to a financial product, you should seek advice from an appropriately qualified professional.

We believe that the information contained in this document is accurate. However, we are not specifically licensed to provide tax or legal advice and any information that may relate to you should be confirmed with your tax or legal adviser.