Nearly half of the women aged 45 to 64 are investing in assets over and above their standard super to save for their retirement, according to a survey by Commonwealth Financial Planning (CFP).
CFP’s survey “Lifestyle Aspirations” found 46 per cent of women aged between 45 and 64 are “investing in shares, property and other assets in addition to their standard super”.
It also found that 37 per cent of the demographic — or four in 10 — are making additional super contributions or additional savings outside of their standard super.
A majority of the women in the demographic responded to the survey that they did not plan to work past the age of 65.
CFP planner Robyn Johnson said it was “encouraging that so many women are taking control of their finances by exploring additional avenues of investment”.
“They’re aware that relying purely on statutory super contributions is unlikely to be sufficient to make a comfortable lifestyle in retirement.”
The survey also found that 85 per cent of women aged 25 to 44 are currently planning to fund their retirement lifestyle with income from their super fund.
More than half of this demographic (57 per cent) planned to draw down from their general savings or the sale of other assets, while 29 per cent plan to fund it through the government pension.
