Recently I looking at research to find out what are the trends in retirement in Australia. I must say I was quite shocked at what I found in the in the www.abs.gov.au in the " Retirement and Retirement Intentions, Australia, July 2010 to June 2011.

For men, the most commonly reported main source of personal income at retirement was a “ government pension/ allowance ( 53%), followed by superannuation/ annuity/ allocated pension ( 27%).

 

For women, the most commonly reported main source of personal income at retirement was government pension/ allowance ( 39%) with a similar proportion of women also reporting no personal income ( 39%). Just under half ( 44% ) of women reported " partners income " as their main source of funds for meeting living costs at retirement.

 

This really emphasises the fact that the sooner we get our finances in order the better!!