The world’s been through a lot in the past few years. In 2022, we were recovering from a global pandemic, then watched weather records being smashed worldwide and the emergence of AI and cryptocurrency. The cost of essential goods like housing, utilities, petrol and groceries soared against a backdrop of rising inflation and interest rates.
Today interest rates are stable, inflation is not yet tamed, and super fund returns are surprisingly stable despite US President Donald Trump’s tariffs and wars in Gaza and Ukraine.
We asked people how these world-shifting events have impacted their retirement plans and what they plan to do differently. Here’s what they said.
Graeme, 78, academic, retired 2013
“I regret not having a detailed retirement plan, but who could have predicted these times? We worked out a retirement budget, but prices have gone through the roof. You need to figure out what you want to achieve in retirement before you get there. Think about what your passion is and what kind of future you want, then take the time to create a comprehensive financial plan based on your own unique needs.”
Marguerite, 68, graphic artist, semi-retired
“My husband and I are semi-retired, and both recently applied for the Age Pension. I want to continue part-time work, as I love working with creative teams, but I may feel differently in a few years. Right now, we have what we need – or think we do, but who knows? During this economic uncertainty, we have wanted to future-proof our retirement plans. A good financial adviser was recommended to us, and we found there are things we can do now that could pay off down the road, such as having a good retirement saving strategy and solid investments.”
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