A Decade Behind: One Third of Australians Unprepared for Retirement
29% of Australians aged 50 and over are underprepared for retirement by more than 10 years against average life expectancy.
Fidelity’s new report, The Longevity Revolution: Preparing for a New Reality, highlights the need for an urgent rethink of how people prepare for longer lives.
According to the report, which drew on global research across 13 markets and in-depth surveys of over 11,800 participants aged 50 and over, there is a growing gap between rising life expectancy and financial preparedness.
- 42% of those surveyed globally were under-prepared by 10 years or more.
- The proportion was notably lower in Asia-Pacific (APAC).
By 2050 an estimated 3.67 million people globally are expected to reach 100.
Author's summary: Australians are underprepared for retirement.
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