Retirement planning and expectations of Australian babyboomers: Are they ready to retire?

Wendy Hunter, Wei Wang, Anthony Worsley

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

20 Citations (Scopus)

Abstract

The "babyboomer" generation, those who were born between 1946 and 1965, account for over 30% of the population in Australia, and it is no surprise that the government is concerned about the financial implications for future healthcare costs. While many babyboomers are more financially secure than previous generations have been on account of compulsory superannuation contributions made over the past 15 years, there are still some who are financially vulnerable and expect to rely on government pensions and welfare assistance. Changes to family structures and job security also mean that those who are less financially secure will need social support. Using an ecological framework model, we explored the retirement expectations and experiences of some Australian babyboomers through focus groups and individual interviews to identify key issues and their plans to address these issues. Four main themes are reported in this paper: retirement attitudes and expectations, finances, health, and food. The results suggested that for many persons retirement equated freedom. Little future planning was undertaken for retirement other than contributing to superannuation schemes, and expectations were reported in general terms, such as wanting to remain independent and healthy and to have time to socialize and travel.

Original languageEnglish
Title of host publicationHealthy Aging and Longevity
Subtitle of host publicationThird International Conference
PublisherWiley-Blackwell
Pages267-278
Number of pages12
ISBN (Print)1573316806, 9781573316804
DOIs
Publication statusPublished - 1 Jan 2007
Externally publishedYes

Publication series

NameAnnals of the New York Academy of Sciences
Volume1114
ISSN (Print)0077-8923
ISSN (Electronic)1749-6632

Keywords

  • Babyboomers
  • Expectations
  • Food
  • Health
  • Retirement

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