Retirement planning and expectations of Australian babyboomers

Hunter, Wendy, Wang, Wei and Worsley, Anthony 2007, Retirement planning and expectations of Australian babyboomers, Annals of the New York Academy of Sciences, vol. 1114, pp. 267-278, doi: 10.1196/annals.1396.024.

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Title Retirement planning and expectations of Australian babyboomers
Author(s) Hunter, Wendy
Wang, WeiORCID iD for Wang, Wei
Worsley, AnthonyORCID iD for Worsley, Anthony
Journal name Annals of the New York Academy of Sciences
Volume number 1114
Start page 267
End page 278
Publisher New York Academy of Sciences
Place of publication New York, N.Y.
Publication date 2007-10
ISSN 0077-8923
Keyword(s) babyboomers
Summary 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.
Language eng
DOI 10.1196/annals.1396.024
Field of Research 111708 Health and Community Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2007, New York Academy of Sciences
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