Most Australians not retirement ready: survey
More than a third of Australians expect a significant shortfall between their retirement needs and their actual savings, a survey has found.
And a further quarter think there will be “some” gap between the two, according to MLC’s annual retirement research.
The survey found just 3.5 per cent thought they would have more than enough to cover them for their remaining years, while 70 per cent did not have a plan for unexpected events like illness or unemployment.
NAB Wealth Group executive Andrew Hagger said it was worrying that more than half of the respondents were not adequately prepared.
“Australians wanting to take control and get active in their retirement savings should seek financial advice to get the help they need to reach their goals,” Hagger said.
The findings were based on MLC’s survey of more than 2000 Australians.
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