Even high-net-worth risk retirement struggle
Doug Webber
Even Australia’s high-net-worth investors need more advice on meeting their retirement income expectations, according to the latest survey data released by Macquarie Private Wealth.
The research, undertaken by Taverner Research, found that while superannuation accounts for only 47 per cent of post-retirement income among current retirees, the majority of pre-retirees expect it to make up at least 60 per cent of their retirement income.
Commenting on the findings, Macquarie Private Wealth national practice manager Doug Webber said they were concerning for the financial future of Australian investors, who might experience a reality check when they reached retirement.
“These findings indicate that there is a big difference between investors’ perceptions of what they expect to have in their super when they retire compared to the reality, suggesting they are not acting early enough,” Webber said.
The study found superannuation was an important consideration for most respondents, with 60 per cent saying they regarded super as a priority when it came to financial planning.
Webber said the results were encouraging and suggested that if investors took advantage of expert advice and smart superannuation strategies there was a good chance they could reach or exceed their post-retirement income expectations.
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