Eight ways retirement will be different in 2030

Will technology make retirement better or worse in the next decade?

How retirement will change in 2030

The rapid pace of technological change means retirement will look a lot different in the next decade.

While it is hard to predict the future, here are eight changes we expect to see coming in the next decade.

Health improvements
Retirement will be a much more enjoyable experience for many, owing to increased wellness. Even today retirees are taking much better care of themselves than the generation before, with increased exercise regimes and better nutrition leading to better preventative health outcomes. We are also witnessing the era of wearable fitness trackers, and this technology will only get better in the coming years, checking and analysing blood glucose levels and noting any blood pressure problems ahead of time. These devices may even be able to contact an ambulance if the device senses you are having a medical emergency, such as a heart attack or stroke.

More independence
When a person hits the age of 75, they usually suffer age-related deterioration of vision, hearing and reaction time. This is generally the time that people will either cut back on the distances they are likely to drive, driving at night, or give up driving altogether. But by 2030, however, driverless cars will be commonplace, and this means that retirees can retain their independence for much longer.

More multigenerational homes
As the population continues to increase, so will the costs of housing, and these two trends will lead to more people looking to share housing costs. This will lead to a greater number of people living in multigenerational homes.

More reminders
We are probably not going to solve absent-mindedness in the next decade, but it will be hard to forget important information as you will be able to set reminders everywhere. This is probably going to be most important in reminding retirees when to take their medication.

Attack of the drones
Mobility issues will be less of a problem in the future, with groceries likely to be delivered direct to your door when needed and drones bringing products directly to your door. Software engineers are already working on this retail technology.

Homes will be more secure
As well as gadgets and cameras to better monitor your residence, it is very likely we will see the end of household keys at some point in the future. Mobile devices will be able to lock and unlock doors at home.

More electronic transactions
Cash is on its last legs already, and soon debit and credit cards will follow. Most transactions will be electronic, with your bank account information stored in your mobile smart device, which you can use to pay for goods and services. The financial dealings you will make on mobile devices (smartphones, smart watches, etc.) will be secured by advanced biometrics, such as voice, fingerprint and face recognition systems.

Your home will be smarter
By 2030, all of your appliances, entertainment screens, locks, lights, security sensors, heating and cooling systems and more will be controlled by your wifi router. You will be able to control your appliances from anywhere. As mentioned above, this will allow your fridge or pantry to order groceries before you run out of them.

How do you think retirement will change by 2030?



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    12th Jul 2018
    Sadly hackers and scammers can easily access electronic devices and transactions are not secure. How many billions of dollars have been scammed since the introduction of the digital world and internet? I am very happy using cash and intend to go on doing so. The banks charge for the use of cards and all they do is make them wealthy. People are idiots to go along with this.
    12th Jul 2018
    Couldn't agree with you more, Priscilla.
    Isn't the saying "don't put all your eggs into one basket" but that's exactly what everyone seems to want to do except that the basket is a smart phone. Somebody steals your phone and half an hour later you're bankrupt.
    12th Jul 2018
    Be brave girls, this is 2018, if anyone does access your bank account any funds withdrawn will be reimbursed within days. For the year ending June 2017 there were 8,481,000,000 card transactions in Australia and only 0.0367% of them were fraudulent - yes the number of transactions fraudulent is large but as a percentage it's next to nothing. Of course fraud is going to happen but fraud in one way or another has always been happening in the world, just in different ways.

    I have two credit cards and a debit card - never pay any fees or interest.
    15th Jul 2018
    How do you buy that paper or coffee at the airport using a card and not paying a fee? Do you think once we are all using cards the businesses will start charging transaction fees because I do?
    12th Jul 2018
    Ben: you are either a genY with rose coloured sunglasses or are on blond planet.
    You ignore the attack of the rich on our society and the intention of turning our wonderful country into an American model where you have the obscene rich who own everything and pay zip in tax and the destitute poor who need food stamps to survive because they cannot afford to live. That is before we even consider that the current government is wiping our full time jobs to achieve this outcome.
    Ideology is wonderful........but it don't pay the bills. The world is not like that and we have to see what is happening around us and WHO is pulling the strings and for what reason. Elementary dear Watson!
    12th Jul 2018
    I absolutely and unconditionally concur, MICK.
    12th Jul 2018
    I think I have noticed a tiny light, Knows-a-lot, the unemployment pendulum might be swinging back. It seems that there are quite a few people setting up their own one man/woman businesses from either their homes or communal office spaces...just like a few years ago before big business starved them out.
    12th Jul 2018
    The top 10% contribute 90% of he taxes which government uses on welfare programs
    What ungrateful labor trolls MIck , K-A-Little and Triss !!!
    12th Jul 2018
    If the governement hadn't thieved the pension fund, Raphael, then the top 10% would be slightly better off. And is calling me a troll the only way you can feel better about yourself?
    15th Jul 2018
    There is no need for taxes or revenue for Government spending. If Government really needed the revenue they would have kept the income producing assets themselves instead of selling them at loss.

    The top 10% often pay very little tax anyway if they aren't PAYG high earners. They run on cashflow, capital gains and corporate bonuses.
    Or they incorporate and the average pay there is 12% to 17% hardly excessive.

    It's the middle paying through their noses in all sorts of taxes, levies, regos, rates etc etc not the top at all.

    12th Jul 2018
    Much of this sounds like dystopia to me.

    12th Jul 2018
    Yes - with new technologies and our ever increasing wealth due to LNP pro growth policies , the future is indeed looking bright for pensioners and future generations
    As long as we don’t drop the ball and let labor in again to ruin the economy and get us in a spiraling debt crisis
    12th Jul 2018
    Debt $147 billion under Labor - during the GFC
    Debt $600 billion under this government - no GFC

    The ruin of this country will be in the despots now in power. That's why they are going shortly! Maybe we will be rid of you as well when money to fund trolls dries up.
    12th Jul 2018
    Debt $147billion when labor left with Ongoing unfinanced commitments over $100 billion per annum.
    Labor hid our ongoing commitments through off balance sheet debts
    They should have been held for treason for their deceit and wastefullness
    15th Jul 2018
    Debt is 240 trillion world wide and growing and we are in the debt spiral already. Wait until the liquidity trap springs shut.

    Everyone has been having a grand old time for the past 40 years or so.

    Not owning anything now because the LNP has sold it all off puts us in a very bad position when the credit stops flowing.

    You know how much a trillion is don't you?
    Mike Omment
    12th Jul 2018
    Mick, you have an unhealthy obsession and you should have it treated.
    12th Jul 2018
    He’s Shortens lackey and a diehard Marxist
    If not for a few on here who continue to dispel his lies , he may brainwash a few gullible folk
    Mike Omment
    12th Jul 2018
    I think most people are laughing at him. its tragic really.
    14th Jul 2018
    Not everyone will benefit, many will not be able to afford the gadgets and services, the poor will remain in the old century. Multi generational homes is not ideal for all either, my mum does not want me to live with her because she values her independence since my dad died.
    The only people really benefiting from technology are those who have investments in them and the providers. Don't let them tell you we need all this stuff. And although I use cash less these days i still use it. Not keen on getting rid of the card either.
    16th Jul 2018
    Hinder hinder hinder.
    Charged to get money charged to pay bills at post office charged to pay cash charged to get a statement of my money. I'm fed up I can't do any ordering paying or many other things without a computer and its getting worse.
    No one wants to speak with you but tell you to go to WWW.

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