Study shows Australians expecting lean retirement
A new study by the Commonwealth Bank on Australians' financial expectations for retirement has produced some alarming results, with one in every two women believing they will face hardship. One in every four men also believe they will require financial help when they retire.
The CBA's Peter Beck says the survey results are very concerning, indicating that Australians are in denial, not wanting to plan for retirement. “They know they need to, but just don't seem to be able to get in front of a planner and plan”, says Mr Beck. He says the message for Australians is clear: save for retirement; look at your lifestyle now and in the future, then get a financial adviser and plan for retirement.