A recent survey showed that Australians are feeling more optimistic about retirement:
- 33% of respondents in a recent survey feel confident about retiring on time, up from 24% in 2023.
- The Superannuation Guarantee has increased to 12%, boosting long-term savings.
- However, cost-of-living pressures and gender gaps in super balances remain key concerns.
The reasons for this gap include career breaks, part-time work, pay disparity, and lower investment confidence.
True wealth and financial confidence come from understanding how to make your money work for you.
The key message is simple: you can take control now, regardless of where you start.
Step 1: Build Financial Resilience Today
Financial resilience means being able to weather life’s storms — job changes, rate rises, health issues — without derailing your long-term goals.
Create a clear picture of your current position: Start by understanding your cash flow, debts, and assets. Clarity is the first step to control.
Establish an emergency fund: Aim for three to six months of expenses in an accessible account. This buffer keeps you from dipping into credit or selling investments in tough times.
Review insurance and protection: Check your income protection, life, and health insurance. The right coverage safeguards your progress if life takes an unexpected turn.
Reduce high-interest debt: Paying down expensive credit cards or personal loans is one of the most reliable “investments” you can make — your return is equal to the interest you stop paying.
Building financial resilience is not just about surviving uncertainty — it’s about creating a secure foundation that lets you thrive, today and in retirement, to have a life of true wealth.
Step 2: Strengthen your retirement strategy
Visualise the Retirement you want: Ask yourself what lifestyle you want in retirement and how much income you’ll need to support it.
Your super is the backbone of your Retirement: Your super is one of the most tax-effective ways to build long-term wealth, but it can easily be neglected. Review your funds, review your investment options, and make additional contributions.
Rebalance and diversify your investments: If your wealth is heavily tied up in property or cash, your portfolio may not be generating enough growth to outpace inflation. Property is just one piece of the wealth puzzle. A truly balanced investment strategy includes assets that behave differently in various market conditions.
Seek Guidance and Stay Engaged: Financial confidence grows with education and consistent action. Check in on your finances regularly, review progress with your adviser annually, and continue to learn.
Closing your retirement gap isn’t about drastic sacrifices; it’s about making intentional, consistent decisions that build strength over time. Every smart move you make today gives your future self more freedom, choice, and peace of mind.
*Rethinking Retirement Report 2025 & 2024, commissioned by CFS, for which more than 2247 Australians were surveyed about their attitudes to retirement and retirement savings during January-March and July-September 2024.
Katrina Dhu (CFP® Professional, MFinPlan, ABFP®, CRPC®, GradDipFinPlan, ADFS(FP), DFS(FP)) is an Authorised Representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
Note: This material is provided for GENERAL INFORMATION ONLY. It has not been taken into account your personal objectives, situation or needs. The information is objectively ascertainable and is not intended to imply any recommendation or opinion about a financial product. This does not constitute financial product advice under the Corporations Act 2001 (Cth). It is recommended that you obtain financial product advice before making any decision on a financial product such as a decision to purchase or invest in a financial product. Please contact us if you would like to obtain financial product advice.