Retirement: are you relying on an inheritance?

Font Size:

Some Australians are banking on inheritance to secure retirement 

Almost one third of all Australians may be relying on an inheritance to pay off the mortgage and ensure their financial security in retirement, according to recent research from IPSOS and MLC, the Australia today report.

Lifestyle trumps mortgage as a goal for the future

The issue seems to be our ability to pay off the mortgage and maintain our lifestyle, with 78 per cent of Australians agreeing the mortgage has a big impact on their lifestyle, regardless of their wealth.

Australians’ main goals for the future showed that ‘maintaining standard of living’ came out on top, with 67per cent of Australians citing this as a key goal for the future. Our mortgage still remains a key concern, with almost half of us (48per cent) indicating that paying off the mortgage is a key goal for the future. 

Interestingly, we’re not confident about how we’ll maintain our lifestyle or pay off our mortgages, with 60 per cent of Australians saying that their salary hasn’t kept up with their standard of living. 

For many of us, we’re not sure how we’ll manage, and many are leaving the mortgage up to a hopeful inheritance. 

Higher lifestyle costs make budgeting difficult

The vast majority of Australians, 83 per cent, believe today’s cost of living is much higher than it was 10 years ago and 69 per cent believe that the high cost of living means that average Australians are struggling to make ends meet. 

Many Australians are taking measures to improve their weekly budgets, with 59 per cent shopping at discount supermarkets, such as Aldi and Costco in order to save money. 

Read more here.

Important information


IPSOS & MLC, Australia today report, Feb 2016

Join YourLifeChoices today
and get this free eBook!

By joining YourLifeChoices you consent that you have read and agree to our Terms & Conditions and Privacy Policy

Written by Sponsored Content


Total Comments: 0



    continue reading


    Do you really need breakfast? Or three meals a day?

    Is nothing sacred? Nine lifestyle writer Sarah Berry says we don't need three meals a day to be healthy. Older...


    How to spot the signs of stroke and reduce your risk

    Strokes might be something we tend to associate most with older generations, but some figures are painting a different story...


    Who needs a colonoscopy most? Ensuring those at risk head the queue

    Professor Jon EmeryMary was 55 when she started having on and off tummy pains, and noticed she needed to go...


    Extraordinary facts about snakes

    From their forked tongues to their slit-like pupils, there's something about snakes we humans often find unsettling. Maybe it's the...

    Finance News

    What is the value of your time?

    A perceived lack of time is one of the biggest factors affecting our sense of wellbeing, according to research conducted...

    Aged Care

    Is the government considering a new tax to fund aged care?

    If we learnt anything in the short time since the monumental aged care royal commission report was released last week,...

    Age Pension

    How to sell excess land and keep the Age Pension

    Kathy wants to know whether selling excess land can stop someone from receiving the pension. Q. KathyA friend of mine...


    Pelvic floor exercises and other bladder myths

    So you’ve done pelvic floor exercises for most of your life – as your doctor advised. And that means you...