Australians savvy on comfortable retirement
Australians appear to have developed a better appreciation of how much they will need to have saved to fund a comfortable retirement compared with people in other countries, according to a new AP-CNBC poll.
The poll found opinions varied widely between countries about how much would be required to fund a comfortable retirement. Australians were most likely to see between $650,000 and $1 million as the minimum amount that needed to be saved.
By comparison, 44 per cent of those in the US believed they would need $241,000, while 44 per cent of those in the United Kingdom believed they would need $76,000 to live comfortably in retirement.
The AP-CNBC poll also suggested that Australians were well aware of market conditions, with 44 per cent acknowledging that their confidence had been shaken by the most recent round of market volatility.
However the degree to which Australians were unnerved by the recent market changes was well below that experienced in the US, where 62 per cent of Americans said they were now less confident investing in stocks.
AUTHOR
Mike Taylor
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