The things that matter most to Australia’s next generation of retirees
While none of us have a crystal ball, retirement planning is about far more than ensuring you have enough money to live on.
Instead, it is about remaining active and healthy, while also maintaining your connection to the people and places you love.
At Just Better Care, we’ve spent 20 years helping Australians continue living the lives they enjoy, in their own homes, in familiar surroundings, and within their communities.
Along the way, we’ve learned it’s important to highlight the realities many older Australians face and to help families feel more in control of their retirement planning.
To support this, we’ve commissioned the Just Better Care 2025 Retirement Report, which reveals what matters most to Australians aged 55 and over as they look toward their retirement years.
We are proud to have partnered with an independent survey company to gather responses from more than 1,000 Australian retirees on their financial readiness, priorities, and challenges.
Priorities and worries
The 2025 Retirement Report revealed that while the top priority for many older Australians was good health, many felt that financial security and personalised support were also critical to feeling prepared for the future.
Declining physical health emerged as an anxiety-inducing worry for older Australians, with seven in 10 identifying it as a concern. This increased as Australians approached later life, with health a foundational goal over leisure activities such as travel or hobbies.
Wealth is also seen as essential for maintaining security, autonomy, and peace of mind.
The report listed not being seen as an emotional or financial burden on family members as the fourth most crucial retirement priority, underscoring the value placed on independence.
Read more about priorities and worries in the 2025 Retirement Report
Retirement savings and planning
The report highlighted apparent differences in how men and women approached retirement planning. Australians over 55 expect an average of $497,513 in savings, but women tend to have less due to career factors, resulting in a projected $143,000 less than men.
Unsurprisingly, planning for aged care had a significant influence on expected retirement savings, with the state older Australians choose to call home and aged care planning having a substantial impact on how much they expected to have saved for retirement.
Those who had planned and saved for aged care believed they would have higher savings than those who didn’t. The report showed that South Australians aged 55 and over projected an average of $519,444 in retirement savings, while Western Australians projected $579,347.
By contrast, those who hadn’t planned for aged care expected to have considerably less – in some cases $200,000 less – with averages ranging from $298,275 for Western Australians to $459,770 for older Victorians.
Read more about retirement savings and planning in the 2025 Retirement Report.
Aged care savings and planning
Despite most retirees needing some form of assistance by the time they retire, many haven’t considered saving for aged care, the report found.
Of those who haven’t yet started saving for aged care, 41 per cent say they never will, and just 9.2 per cent plan to start saving in the next one to two years.
Among the 35 per cent who have already begun saving, there are apparent differences between states in how much Australians are putting aside for aged care.
Queenslanders and Western Australians are leading, with each allocating well over half of their retirement savings at 58% and 56%, respectively. South Australians are putting aside the smallest share, averaging just 51 per cent of their retirement savings towards aged care.
These findings suggest a clear need for greater awareness and planning, given the rising costs of aged care and the likelihood that support needs will increase with age.
Read more about aged care savings and planning in the 2025 retirement report.
Choosing and accessing aged care
Thinking about where they’ll be living and how their needs may change during retirement is also a key priority for many older Australians, the data showed.
The report found that seven in 10 older Australians value staying in their own home more than the speed of access to care.
As many as 887 per cent said that when the time comes to choose, they would prefer to receive care in their own home.
Among those who felt they would require care in the future, more people favoured care from a paid Support Worker (55 per cent) or a family member in their own home (3 per cent) than a residential aged care facility (7 per cent).
The report showed that older Australians value independence and professional support, while recognising the vital role family plays in their care.
Read more about choosing and accessing care in the 2025 retirement report
Need support?
If you would like to have an obligation-free discussion about your plans for support at home as you retire, or to learn more about how we can help you live confidently at home, contact the Just Better Care team.
