Think all retirees have similar lifestyles? Prepare to be surprised
Insights from our research for Challenger
Our recent research for Challenger Limited, published here revealed four very different Australian retirement lifestyles:
- The carefree lifestyle
- The content lifestyle
- The cautious lifestyle, and
- The concerned lifestyle.
Carefree lifestyle
Retirees living a carefree lifestyle use their retirement savings to enjoy themselves now they are free of obligations like mortgages, school fees and work. They travel and socialise with their friends.
Proving that retirement lifestyles are as much about mindset as money, while most retirees living this lifestyle had at least $500,000 in super, some people enjoying a carefree retirement had under $300,000 in super.
Content lifestyle
People living a content lifestyle have chosen to slow down after a life of work. They still take getaways and socialise, but they also enjoy quieter times. If they spend less than they used to (as some do), it is because their chosen lifestyle doesn’t warrant spending any more.
Cautious lifestyle
People living a cautious lifestyle, on the other hand, are worried that if they are careless now, their money will not last their lifetime. They spend less so they can save. These are the classic ‘frugal’ retirees.
Concerned lifestyle
Finally, the segment with the lowest super balances on average: the retirees described as ‘concerned’, who spend less because they have less to spend – many in fact expect their super to run out before they die.
Read more here
Contact us
Susan Bell Research specialises in research with people approaching, avoiding, living in, and experimenting with retirement in Australia.
Before commissioning research into retirees’ needs and expectations, make sure you contact us because we understand this age group better than any other Australian research agency.
We would love to hear from you, and are always happy to talk through research methods and options with you, if you are not sure what you need. Why not get in touch for a free, obligation-free, and confidential conversation.
Find out more about Susan Bell Research.
