The trends from 2020 that support a positive outlook in retirement

Font Size:

For most of us, the pandemic changed our lives in a big way. We were forced to dig deep and find ways to cope with challenging and uncertain times. In this article, we look at how the habits and behaviours that have emerged in 2020 can support a positive outlook in retirement.

Positivity and gratitude have helped Australians stay resilient throughout the pandemic
Across every generation, the pandemic significantly changed our day-to-day lives. But it’s older Australians who have shown the greatest resilience, with younger generations more likely to struggle to find anything good about 2020.

Research suggests that the behaviours of older Australians may have helped them to stay resilient throughout the pandemic. Australians aged 75-plus are significantly more likely to have acknowledged the realities of their circumstances and to have kept in perspective that even in the uncertainty, they know the dark days will pass.

As a nation, our positivity has helped us stay resilient. Four in five Australians (83 per cent) believe that although 2020 has been tough, they will come out stronger because of this experience. And in a survey by Pureprofile, 50 per cent of Australians said they had become more grateful for what they had since the pandemic began.

Gratitude is proven to help us feel more positive and resilient. Expressing gratitude every day can help us stay mentally strong in retirement.

We’ve found our community spirit and helped those in need
2020 has inspired us to become kinder to those around us. One survey revealed that 55 per cent of Australians feel more compelled to show kindness to others since the pandemic. Many of us have taken the time to check in on neighbours and made more effort to support local businesses.

Research shows that people who volunteer experience a boost to their mental health. Volunteers are more satisfied with their lives and rate their overall health as better than those who don’t volunteer. Donating your time to help others in retirement is a great way to stay active in your community and boost your wellbeing.

We’ve had time to focus on the people around us
Having less to do has left us with more time to reflect on our priorities in life. Even though 88 per cent of Australians will be happy to close the door on 2020, 76 per cent have said they want to reprioritise how they spend their time. Spending time with family and friends has become one of our top priorities. According to one study, even though 37 per cent of Australians found it difficult to connect with family members living elsewhere, 93 per cent still made the effort.

Staying socially connected to our communities and loved ones has enormous benefits, including an ability to stay resilient and fight off negative physical and mental health outcomes. In retirement, these social connections become more important than ever in staying healthy and happy.

We’ve become more mindful about our spending
Living through a pandemic has forced us to re-evaluate how we spend our money, and that can only be a good thing. But it seems our new money habits are here to stay. In one survey, 50 per cent of Australians said they planned to change their lifestyles after the pandemic, with a view to spending less and saving more.

Recent times have also turned us into more conscious shoppers. Shopping with companies that are behaving sustainably has become more important to 50 per cent of Australians because of coronavirus.

Guaranteed, regular income to support you in retirement
One thing that 2020 has taught us is that life can quickly take twists and turns we didn’t expect. Having a secure source of income is another way to support a positive outlook in retirement. With a lifetime annuity, you can receive a guaranteed monthly income, no matter how long you live, or how share markets perform.

Find out more about Challenger lifetime annuities here or use the Challenger Retire with confidence tool to discover how a comprehensive retirement income plan can support a positive outlook in retirement.

Are you proud of how most Australians have responded to the challenges of the pandemic? Do you believe older Australians have shown they are particularly resilient?

Challenger is a preferred partner of YourLifeChoices.

If you enjoy our content, don’t keep it to yourself. Share our free eNews with your friends and encourage them to sign up.

RELATED LINKS

Report tells why ageing populations are an asset

Experts say health means wealth for older people and global economies.

Are you getting the Aged Pension you’re entitled to?

Recent changes to means testing could put more money in your pocket.

COVID shock means one in five will delay retirement: study

An Australian Stock Exchange study suggests many Australians will delay retirement.

Written by Challenger Group



SPONSORED LINKS

Sign-up to the YourLifeChoices Enewsletter

continue reading

COVID-19

Another vaccine ruled out as second blood clot case emerges

Australia's Therapeutic Goods Association (TGA) has announced that a second case of blood clots is believed to be linked to...

Superannuation News

Super funds fight for changes to reforms

Your Super, Your Future legislation will be enacted within three months and leading players are weighing in on the impact...

Finance

Ambulance costs around Australia

There should be no hesitation when you have to call an ambulance in an emergency situation, but some people rushed...

News

Four tell-tale signs that you may have a blood clot

A blood clot is a clump of cells and protein in your blood. Blood clots form to slow down bleeding...

Finance News

How much you can save on electricity in your home state

As we prepare to head into the colder winter months, there is good news for those worried about heating costs...

COVID-19

What is thrombocytopenia, and why did it stop the AstraZeneca jab?

Anthony Zulli, Victoria University; Maja Husaric, Victoria University; Maximilian de Courten, Victoria University, and Vasso Apostolopoulos, Victoria University Australia's medical...

Wellbeing

Ways to manage death anxiety

Winston Churchill once said: "Any man who says he is not afraid of death is a liar." But while it's...

Food and Recipes

Rick Stein's Autumn Vegie Soup

"One of the rather pathetic realities of the fact that so many of the restaurants in France are disappointing these...

LOADING MORE ARTICLE...