A report from New Zealand Seniors and CoreData research group has brought to light new figures about Kiwi lifestyles in retirement. Over one thousand kiwis aged 50 and above were surveyed and indicated that they are looking forward to an active and independent retirement journey, but affordability remains a key concern.
Retirement is no longer considered a standalone event. Instead, 81 percent of kiwis saw it as a transitional period, and three in five kiwis find a gradual reduction in work commitments to be far more appealing than setting a hard deadline.
With one in two kiwis looking forward to the new adventures retirement can bring, 56 percent see it as an opportunity to have more control over their time, and 60 percent look forward to doing things they have been meaning to get around to.
When it comes to easing into retirement, “Many people underestimate the importance of having a regular social connection in their workplace and the role it plays in their broader wellbeing. For some, retirement can mean feeling their value and sense of purpose diminish,” said Joanne Reid, Age Concern Health Promotion and Policy Manager.
In contrast to this, when it comes to funding retirement, 40 percent of pre-retirees have a vague idea, and 27 percent have no idea how to fund themselves at all. Leaving over half of the retirees hoping for more significant financial assistance. Because of this, it is unsurprising that one-third of kiwis are considering returning to the workforce after retirement due to a need for increased financial stability.
Overall, kiwis have an unmistakable idea of what they want when it comes to their future in retirement, with 9 in 10 seeing maintaining independence as the most crucial factor in their lives. It is no surprise that this is the top deterrent for choosing to live in a retirement village, along with their affordability and other general financial pressures.
For further information, see the New Zealand Seniors website.
