Natixis has revealed the 10 biggest problems and mistakes made by investors when it comes to their retirement planning.
The Natixis Global Retirement Index, now in its 10th year, examined the factors that drove retirement security as well as the indicators to enjoy a secure retirement such as access to quality financial services and access to health services.
Australia ranked among the top five countries to retire securely, up from seventh in 2021, and scored fourth for finances in retirement and ninth for health services. New Zealand was in sixth place and Natixis noted it was up from 34th a decade ago.
However, there were common mistakes being made by pre-retirees all over the world.
These were:
“Perhaps more than any other factor, [inflation] has the potential to upset the plans that have taken decades for millions of people to realise by simply eroding the value of what they’ve worked so hard to accumulate.
“Rapidly-escalating costs can pose a significant threat to the financial security of retirees by eroding purchasing power. Instituitional investors will be challenged to preserve assets in a more volatile investment environment.”
Some 2,700 respondents were surveyed across 16 countries.
New research has shown Australians are retiring at their oldest age in over 50 years.
The $300 billion fund has announced the development of a new flexible lifetime income option in partnership with TAL.
As regulators spur funds to focus on Australia’s ageing population and overseas players voice their interests, professionals expect a boost in innovative activity in super.
Over half of Australians hope to live to 100 years, according to MetLife, and 90 per cent believe retirement should be redefined to account for a longer lifespan.
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