As we enter the latter part of the 2020s, there is no doubt that experts see a changing picture of retirement. It’s been identified that we’re increasingly more active and more flexible about the way we view and experience retirement.
This means that the old set and forget super plan for retirement might need a new perspective as Australians work, help, learn and earn longer in our respective lives.
Here at Finwell Group we took the opportunity to research the current views on retirement to provide an overall picture for the interested reader.
It should be noted that all articles provide information that is general in nature and a personal conversation to review how it impacts your specific circumstances is the best way to set up your plans for this phase of your life.
Later in the article, we’ll give you a link for a complimentary review meeting with a Finwell Group expert. Take the opportunity. There is no cost or obligation, you have nothing to lose but a small amount of your time.
In the meantime, let’s look at how retirement is changing now and in the future in Australia.
Retirement is undergoing a complex transformation. The idea of a fixed “retire at 65 and relax forever” model is rapidly giving way to a more fluid, multi-stage life phase where work, leisure, community contribution and financial planning blend in new ways.
As we move through 2026 and look ahead to the next decade, several key trends are reshaping what it means to retire — with important implications for all of us.
Increasingly, Australians are choosing to not stop their job or business life abruptly. In fact, research from peak super industry bodies shows that many workers view retirement not as a finish line but as a gradual transition, often involving part-time or flexible roles well past traditional retirement ages. (reference ASFA – https://www.superannuation.asn.au/media-release/asfa-research-reveals-retirees-intend-to-stay-flexible-many-eye-part-time-work/)
To be a little more specific, this research shows that around a quarter (25%) of Australians aged 65+ who remain in the workforce plan to keep working for social engagement and intellectual stimulation, not just financial necessity.
This shift is partly cultural and partly about money. We are all living longer on average which means we need to fund a longer retirement. And we’re healthier for longer too. Our average retirement age is rising, which is partly being driven by changes in the labour market, but also our genuine preference to work longer.
Research shows that we’re phasing out work by reducing hours, or switching to freelance work, and sometimes we may even return to work after a brief period.
People are volunteering more with Aussies aged over 55 donating tens of billions of dollars in time helping others and care giving. (Australian Human Rights Commission – https://humanrights.gov.au/human-rights-education/stats-and-facts-about-discrimination/statistics-about-older-australians)
Volunteering offers purpose, community connection and a routine. Far from slowing down, retirees are becoming valuable assets in non-profit, community and advocacy sectors.
Our collective Superannuation system is among the largest in the world with trillions of dollars in assets.
But for the individual, a growing balance does not mean you can be overconfident, and many will still retire with insufficient financial support for their retirement years.
Aussies are aware of this and only a small percentage of us feel “very confident” about retirement. The problem is that there is often inaction on the part of these individuals to be proactively planning for it, despite their lack of confidence. (Proactive Investors – https://www.proactiveinvestors.com.au/companies/news/1083644/australians-more-upbeat-on-retirement-but-most-still-lack-confidence-mfs-survey-shows-1083644)
Retirement is no longer a single life stage; it’s a mosaic of experiences that blend financial security, personal fulfilment and ongoing contribution.
So perhaps this article is your wake-up call. Book that complimentary meeting and see where you are at.
At Finwell Group, we want you to have a stable retirement, and our team is ready to help you plan for it.
Give us a call on (03) 9017 3235 or email [email protected].
You can also visit our website to book that complimentary meeting finwellgroup.com.au.
General Advice statement
The information in this article is general in nature and does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.
