Shifting balance of risks sees February 2025 firm for first rate cut – but easing still likely gradual.
Insight
In a break with tradition, young people are taking a more active interest in their superannuation with the 30-49 year old group being the most concerned about planning for retirement, according to the latest quarterly MLC Wealth Sentiment Survey.
In a break with tradition, young people are taking a more active interest in their superannuation with the 30-49 year old group being the most concerned about planning for retirement, according to the latest quarterly MLC Wealth Sentiment Survey.
Both men and women in this age group rated their concern about having adequate funds for retirement at 73%, with people over 50 and 18-29 year olds having an equal level of concern (64%).
The survey of over 2,000 Australians also revealed Queenslanders were most concerned about super adequacy, missing investment opportunities and changes to superannuation rules. People from Western Australia and Tasmania were the least concerned.
Those who have children are more concerned about having enough for retirement compared to those who don’t have children. The more children the family has, the more concerns there are.
In a special report: MLC Retirement Survey also released today, just one in 10 respondents had a well considered plan in the event of major financial setbacks such as unemployment or ill health, with 72% of people failing to consider setbacks in their retirement plans, up 3% from the previous quarter.
Investors continue to take a conservative approach to risk with superannuation, paying down debts and cash the preferred investment options.
Key highlights:
For further analysis download the full report.
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