Over a Third of Australians Doubt They Can Ever Retire
According to the latest survey conducted in Australia, more than one-third of the population (34%) is convinced that they will never be able to afford retirement. This worrying statistic highlights the growing anxiety among citizens regarding financial safety in old age and their quality of life after finishing their working careers.
The survey, conducted by a prominent analytics agency, revealed that many Australians are concerned not only about low savings but also about potential healthcare costs and insufficient financial support from the government. Over 60% of respondents expressed fear about the need to work for the rest of their lives due to a lack of funds for subsistence after retirement.
This issue is particularly sharp for the younger generation, which faces high levels of debt, rising housing prices, and labor market instability. The majority of young respondents noted that saving for retirement seems like an unattainable goal under current conditions.
Moreover, recent economic challenges, such as inflation and labor market uncertainty, exacerbate the situation, forcing Australians to rethink their financial plans and perspectives for the future. In response to these concerns, experts recommend starting savings as early as possible and seeking advice from financial advisors to develop a personalized retirement plan.
The Australian government must also pay attention to this psychological and economic issue, says an economist, who emphasizes the need for reforms in the pension system to ensure greater financial stability among citizens.
