Suite 8 / 260 Auburn Road, Hawthorn 3122
Phone: 03 9214 4100
Fax: 03 9818 6008
enquiries@trumpetfinancial.com.au
 
 
eWombat Search
  LATEST FINANCIAL NEWS
 
Hot Issues
SMSFs: Our 'hardest' jobs
ASIC issues alert over big gaps in SMSF trustee knowledge
Super savings gap for women stuck at 30%
Statistics for all Australians
Super set to play bigger retirement role
Why SMSFs want estate-planning advice
The power of financial role models
Assess your retirement financial resources
Cryptocurrency audits tipped to increase this EOFY
Time to check your risk exposure?
Some general interest stats on SMSFs
Survey reveals strong opposition to retirement system changes
Check trust deed to protect super in estate planning
Australia by numbers – Update
Federal Budget 2018 – Overview
Your Budget
4 components of our 2018 Federal Budget
Tools to help you manage your financial position are available on our site.
New rules capture SMSFs trading big with cryptocurrency
Common EOFY slip-ups flagged for SMSFs
Beware residency rules if moving overseas
99 pct of SMSFs missing global opportunities
How to plan for a better retirement
Australia by numbers - Update
Determine your retirement goals
ATO issues update on cryptocurrency compliance traps
How likely is a global trade war?
Articles archive
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Why your retirement intentions are critical

Have you given much thought to the age that you might eventually retire?



       


 


Thinking well ahead about possible retirement timing is a fundamental part of financial planning – no matter whether you have spent years in the workforce or have just started your first job.


In short, having an intended retirement date in mind helps us to calculate how much we should regularly save to meet that target.


Fewer people than in the past leave full-time work on a Friday to begin full-time retirement the next day but rather ease their way into retirement, if possible by first switching to part-time work.


Of course, many of us would like to assume that we are in control of the timing and shape of our eventual retirement. Yet things often turn out differently in reality.


The most-recent Retirement and retirement intentions, Australia report, published by the Australian Bureau of Statistic (ABS) in December, provides an insight into our plans for retirement.


Of the 4.9 million people aged 45 and over in the labour force in 2016-17: 79 per cent intend to retire in the future. The remainder either hadn't made up their minds whether to eventually retire or intend never to retire.


Of those who aim to retire:


  • 50 per cent intend to retire between 65-69.
  • 23 per cent intend to retire between 60 and 64.
  • 7 per cent intend to retire between 45 and 59.

The average age for intended retirement is 65. By comparison, "recent retirees" – meaning those who retired over the past five years – had an average retirement age of just under 63.


 


Robin Bowerman, Head of Market Strategy and Communications at Vanguard.
22 February 2018
www.vanguardinvestments.com.au




28th-March-2018
Trumpet Financial Pty Ltd ABN 11 443 516 384 Corporate Authorised Representative (No 327756) of Aon Hewitt Financial Advice Limited AFSL 239183 ABN 13 091 225 642
Registered Address: Level 33  201 Kent Street, Sydney NSW 2000 | Sitemap | Disclaimer | Privacy Policy | About Aon Hewitt Positioning