Retirees unable to tick off bucket list
Over half of Australians have a retirement bucket list but less than one third believe they will have enough money to tick off that list, REST data showed.
The industry super's online poll showed 52 per cent of Australians have a bucket list, while 30 per cent plan to leave an inheritance behind to their children, and one in four want to relocate to the countryside or seaside.
Among those with a bucket list, 53 per cent want to travel the world.
But only 32 per cent of older Australians believe they will be able to fulfil their wishes, while 17 per cent do not think they will be able to fulfil anything on their list.
REST Industry Super CEO Damian Hill said he was most concerned about those who will not be able to fulfil any of their wishes.
"Too often people underestimate e the cost of retirement, and the gap between what people think they need to retire on and what they require in reality is often significant," he said.
"Consolidating your superannuation accounts, salary sacrificing and taking an active interest in how your superannuation is invested are small steps you can take earlier in life to maximise your retirement returns."
Accordint to the March 2014 Association of Superannuation Funds of Australia Retirement Standard, a couple wanting a comfortable retirement needs $57,817 a year, while those wanting a ‘modest' retirement lifestyle need $33,509 a year.
AUTHOR
Malavika Santhebennur
Recommended for you
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
The ETF provider has flagged a number of developments as it formally enters the superannuation space through a major acquisition.
While all MySuper products successfully passed the latest performance test, trustee-directed products encountered difficulties.
Iress has appointed Insignia Financial’s former general manager of master trust and insurance products as its newest CEO of superannuation, who will take over from Paul Giles.
