All ages (n=8,335) Per cent | Baby boomers (age 47-64) (n=2,787) Per cent | 65 and over (n=1,598) Per cent | 75 and over (n=628) Per cent | |
---|---|---|---|---|
Takes substantial risks expecting substantial returns | 1.4 | 1.1 | .6 | .3 |
Takes above-average risks expecting above-average returns | 6.1 | 6.2 | 2.4 | 1.1 |
Takes average financial risks expecting average returns | 38.5 | 43.2 | 34.7 | 27.2 |
Not willing to take financial risks | 41.4 | 37.5 | 52.1 | 62.1 |
Never has any spare cash | 12.6 | 11.9 | 10.3 | 9.2 |
Total | 100.0 | 100.0 | 100.0 | 100.0 |
Level of Agreement with the statement “I have had to adjust to a big drop in my income since retiring”. | Per cent (n=1,089) |
---|---|
Strongly disagree | 4.2 |
Disagree | 27.4 |
Neither agree nor disagree | 14.4 |
Agree | 40.6 |
Strongly agree | 13.4 |
Time period and age profile | Superannuation | Housing wealth | Size of cohort |
---|---|---|---|
2011 Retirees 65+ | $267 billion |
$540 billion |
3.1 million |
2011 Baby boomers (ages 45-64) | $780 billion |
$1.39 trillion |
5.5 million |
2014 Retirees 65+ | $454 billion |
$830 billion |
3.44 million |
2015 All ages | $2 trillion |
$5.9 trillion |
23.5 million |
2029-2033 |
$4 trillion |
$1.5 trillion |
5.49 million |
2033 |
$836 billion |
$2.48 trillion |
6.1 million |
2033 |
$7.6 trillion |
Est. $10 trillion |
33 million |
Household composition | Estimated number of households | Homeowner % | Renter % | Other living arrangement % |
---|---|---|---|---|
Lone person | 742.0 | 75.9 | 17.6 | 6.5 |
Couple only | 741.6 | 91.4 | 5.8 | 2.8 |
All households | 1,767.5 | 84.6 | 11.1 | 4.3 |
Loan interest rate (Compounded monthly) | 4% p.a. | 5.25% p.a. | 6.25% p.a. |
Home value at the start of month, Year 1 | $349,000 | $349,000 | $349,000 |
Monthly income drawn (Yr 1 to Yr 25) | $200 rising to $363 by Yr 25 | $200 rising to $363 by Yr 25 | $200 rising to $363 by Yr 25 |
Home value at the end of month, Year 25 | $836,142 | $836,142 | $836,142 |
Size of loan, compounded at end of Year 25 | $133,871 | $158,733 | $182,920 |
Remaining home equity after 25 years with monthly withdrawals | $702,271 | $677,409 | $653,222 |
Loan to Value Ratio (LVR) | 16% | 19% | 22% |
All households cumulative per cent n=2,477 | Homeowner households cumulative per cent n= 1,957 | Non-homeowner households cumulative per cent n= 442 | |
---|---|---|---|
Negative or $0 | .2 | .2 | .5 |
$1-$9,999 | .8 | .6 | 2.0 |
$10,000-$19,999 | 17.8 | 13.9 | 33.0 |
$20,000- $29,999 | 44.5 | 39.1 | 64.3 |
$30,000-$39,999 | 60.5 | 56.4 | 75.8 |
$40,000-$49,999 | 72.1 | 69.4 | 82.4 |
$50,000-$59,999 | 79.3 | 77.5 | 86.0 |
$60,000-$79,999 | 87.6 | 86.5 | 91.6 |
$80,000-$99,999 | 91.8 | 90.6 | 95.7 |
$100,000 and over | 100 | 100 | 100 |
Level of Agreement with the statement “I wish I had started to plan for retirement earlier”. | Per cent (n=1,085) |
---|---|
Strongly disagree | 7.2 |
Disagree | 40.7 |
Neither agree nor disagree | 22.7 |
Agree | 22.3 |
Strongly agree | 7.1 |
Loan interest rate (Compounded monthly) | 4% p.a. | 5.25% p.a. | 6.25% p.a. |
Home value at the start of month, Year 1 | $949,000 | $949,000 | $949,000 |
Monthly income drawn (Yr 1 to Yr 25) | $1,115 rising to $2,024 by Yr 25 | $1,115 rising to $2,024 by Yr 25 | $1,115 rising to $2,024 by Yr 25 |
Home value at the end of month, Year 25 | $2,273,635 | $2,273,635 | $2,273,635 |
Size of loan, compounded at end of Year 25 | $746,331 | $884,934 | $1,019,781 |
Remaining home equity after 25 years with monthly withdrawals | $1,527,305 | $1,388,701 | $1,253,854 |
Loan to Value Ratio (LVR) | 33% | 39% | 45% |