And if it is, we need to teach two things. The first: financial planning doesn’t have to be about quitting work forever as soon as you can. It can be about building your ability to make choices. Getting to a point where you could ease off, work part-time, or say no to something that drains you, because you’ve got some financial confidence backing you up. That’s powerful.
The second: purposeful work doesn’t have to stop. Unless your health fails or your priorities shift, you can keep doing good work well into your 70s if you want to. Some of the most energised pre- and post-retirees I know are doing just that. They’ve pieced together lives that include a little paid work, some unpaid projects, volunteering, grandparenting, mentoring – whatever lights them up. And they’re doing it on their terms.
In fact, the Retire with Purpose report shows, 81 per cent of Australians who haven’t yet retired plan to continue working in some form – through part-time roles, hybrid jobs, volunteering, or creative pursuits. They’re not looking to check out. They’re looking to transition into a life that reflects their values and choices.
So, if that’s the retirement model you’re chasing, here’s what needs to change.
1. Do your financial planning earlier (yes, even if it bores you to death)
Nearly half of retirees in the report said they were financially unprepared when retirement arrived. According to ABS data, only 31 per cent of Australians retire by choice. On the flip side, four out of five working Australians who got advice felt confident about retiring at their chosen age.
So why aren’t we getting advice sooner?
If you start planning in your 40s or 50s instead of panicking in your 60s, you’re far more likely to feel ready – not just to retire, but to choose what’s next. Don’t call it retirement planning if that feels too grim. Call it “I want options” planning. You’re working towards the point where you have enough – enough to go part-time, buy breathing space, or shift out of a career path that’s run its course. The point is: you want to be the one calling the shots.
Fifty and 60-somethings struggle to get interviews for roles they’re clearly qualified for.Credit: Louie Douvis
2. Let’s stop sidelining older workers
Ever heard a story about a capable 50 or 60-something looking for a job? They struggle to get interviews for roles they’re clearly qualified for – and would love to do. Some even strip experience off their CV just to get in the door.
Many say they’d happily take a pay cut and work for a younger boss, just to step back and still do work they care about. They’re not asking to cruise. They just don’t want the top job any more.
But younger managers often feel unsure – or worse, threatened – and sideline these skilled, experienced workers.
If we want this to work, we need to shift our thinking. Train younger managers to understand that older workers often have different, perfectly reasonable goals – just like we once taught them that mothers make great employees who deserve flexibility.
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3. Stay curious or get left behind
This one’s on us. If you want to stay employed into your 60s and beyond, you can’t check out mentally. If you’re resisting tech, grumbling about younger colleagues, or coasting on old credentials, you’re not helping yourself – or your age group.
The best older workers I know stay curious. They learn new tools, adapt to multi-generational teams, stay humble – and they get invited to stick around.
And then there are the grumblers. Bored stiff. Counting the days. I get it – some jobs do suck the joy out of you. But if you’ve mentally left the building, that’s not helping you or your team.
Take a break. Reskill. Pivot. Start shaping a future you want to step into, not just counting down to a date you hope will save you.
4. Make retirement a safe thing to talk about
Most people don’t tell their boss they’re thinking about retirement until they absolutely have to. One in four Australians in this report say they don’t feel comfortable discussing it at all. Why? Because we’re scared of being sidelined. Of being quietly shuffled out of the good projects. Of being seen as halfway out the door. We can do better than that.
Workplaces should help people plan their exit over time – not force them to pretend everything’s fine until they’re suddenly gone. When people can plan and shape their transition, everybody wins.
As UniSuper’s manager of retirement solutions Giacomo Tarantolo, put it: “Retirement in Australia is changing. No longer is retirement seen as a full stop, but rather a transition to a new life focused on flexibility, fulfilment, and finding purpose in new ways.”
I love hearing that from a super fund – that this stage of life is about more than just money, superannuation access, and financial advice. Because it is. It’s not about retiring early or working forever. It’s about getting yourself into a position where you decide how the next stage plays out – before someone else decides for you.
Bec Wilson is author of the bestseller How to Have an Epic Retirement and the newly released Prime Time: 27 Lessons for the New Midlife. She writes a weekly newsletter at epicretirement.net and hosts the Prime Time podcast.
Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making financial decisions.
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