The report, anchored in the noteworthy findings from the Challenger Retirement Happiness Index, indicates that Australians who haven't benefitted from professional financial guidance are 39% more likely to feel the pinch of living expenses than the 25% who have been counselled financially.
Insights into the behavior of Australians entering or navigating retirement underscored a common thread – the acknowledgment of the link between financial awareness and contentment. Here's what the research delineated:
Delving into the geographic spread of financial consultancy, disparities emerge among residents of different states:
A convening of over 1000 Australians over the age of 60 allowed Challenger, in collaboration with the independent research entity YouGov, to unravel the factors influencing retirement satisfaction.
Mandy Mannix, Challenger's Customer Experience Chief Executive, reacted to these findings by drawing attention to a poignant fact – almost half of the survey participants desired greater budgetary safekeeping. This sentiment resonates with the industry's commitment to elevating retirees' later years through enhanced happiness and security.
Published:Monday, 8th Apr 2024
Source: Paige Estritori
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