One in five Australians believe they will work beyond age 70

 road to retirement

According to new research released by MLC and NAB, one in five Australians believe they will work until age 70 or beyond.

The MLC Wealth Sentiment Survey has confirmed what many retirees have been saying for years – that they are worried about having enough for a comfortable retirement. Consequently, many of those still employed are choosing to stay longer in the workforce.

The research shows 31 per cent of Australians expect to retire between the ages of 65 and 69, and nearly one in five think they will retire when they are 70 or older.

As expected, the research shows a direct link between a person's accrued wealth and their expectations of retirement age.

Those in the highest income group expect to retire earlier, with 47 per cent of those earning over $100,000 expecting to retire before age 65, compared to 36 per cent for those earning less than $35,000.

Do these figures surprise you? At what age did you, or will you, retire? How much of your decision is based on wealth and how much is based on health?


Worrying too much about money to support an excessive self indulgent lifestyle, shortens your life span anyway. Learn to economise, make your own, do your own and go without the unnecessary luxury trappings to enjoy a happy retirement instead of being a slave to some crooked governmental brainwashing.


Good reply jackie.

I think many who work past a normal retirement age never get their hands dirty. The heaviest thing they lift is a phone.

It makes sense that one earning less than $35k might need to stay in the workforce till reaching retirement age.

But there are those who are wealthy who continue to work into their 70's and beyond. The reason is that they think money elevates their status, else they forget that shrouds have no pockets.

I retired early and no I was not in the $300,000 bracket but had enough to do what I wanted or needed as money was not an important part of my thinking.

My retirement years are for spending what I accumulated during my working years, not trying to save more which obviously would be useless to me when I die.

Retirement for most is VERY far from an indulgent lifestyle. It is a matter of necessity and essentials, like housing food, medical treatment, transportation etc. Many wil not just work beyond 70 (myself, for example) but will, in fact, literally work till they drop. These will be the LUCKY ONES because they still have a JOB. The poor unfortunates who are unable to find paid work in their sunset years had better have a nice little nest egg to support their old age or they will be battling to survive and living off the generosity of family and friends.

A very few (dullards) expect the government to fund an "indulgent lifestyle" in their old age, but having worked a full lifetime, most do expect some assistance to have a little dignity in their final years. With the budget deficit in the mess it is in, the Government should be looking at those who can best afford the solution - multi nationals who pay little or no tax and the wealthy who take full advantage of overly generous super concessions. The aged, sick and unemployed didnt cause this budget problem and THEY should not be the first to shoulder the burden.

Well said kfchugo - agree entirely.

I agree also KFC

The age of retirement is oftentimes based on wealth accumulation, as in my own case. Health is also a  reason for retirement, again, one of my deciding factors. One's enjoyment of work is another very important issue when considering retirement. These, I think, are the most widely used issues, possibly weighted differently, when deciding when to retire. I retired at 56 because I had enough money, had good health, and hated work - three excellent reasons - and haven't regretted my decision for one micro-second. So, no, your figures do not surprise me.

Is the cup half empty?   Doesn't the statement mean that 4 out of 5 don't think they will work until they are 70?  I inherited nothing & retired at the age of 38.  I bought a yacht & went sailing for 4 years.  I then came back to Australia & went back to work, in my own Company.   The best of it is that I work for pleasure & not for money.

Thats the secrest if you can do it Innes



Very well said Innes...personally...I can't imagine not working...and like's solely for my pleasure and... since nothing else in my life suffers...then I shall continue as long as is possible.

These days people are much healthier than they used to be...there is no reason why anyone should retire and expect to be on the aged pension if they are still fit enough to work. The Aged Pension is a section of welfare initially designed for those who are in dire straits...but's in trouble. However...if one is able to accumulate enough wealth of their own...then retire whenever you like!

An excerpt from a poem about work from one of my favourite authors: Khalil Gibran can be read here:

Did try to post it...but it's not happening!


I have had 24 years of retierment;  if I had my time over I would have worked for another 10 years...not for financial gain but for the social aspect.

However, that said, we have had a great retirement and the stress factor has been greatly lowered for both of us.

Guess work ethic that you get brought up with has a great bearing on it.

I retired at 62, as that was the age I could,  I did have to give up work to nurse my Husband for 18months b4 that time till he passed away, then went back to work.

Those that are doing heavy manual work will NOT be able to work till 70 and beyond.

Shouldn't we all be able to have a few years of R & R b4 we are too old to enjoy!

I guess that the gist of the thread gives the impression that "work" means having a job and working for wages.

But I think you will find that many retirees "work" as volunteers and do not get paid for it. They just do not call it work but many do more actual "work" than someone who works in an office which is not really "work"

You have obviously never done any office work Gerry - believe me, it is WORK.

YES Office work is work for sure but much different to hard manual work and quite able to be handled when in later years

I have done both (office work and hard labour) but never got a sweat up doing office work. Yes, it is classed as work but to me there is a difference.

The thought of working until the age of 70 horrifies me. I am just about to retire early. I have one and a half working days to go, and I can't wait! :)

Good for you Bron,  everyone deserves to have a few years of R & R  b4 they can't do much at all but this lot want us to work till we drop

I agree PlanB. No-one knows what's in store for them healthwise. If you are able to retire early financially, and not necessarilly well off, but comfortable, I say go for it :) I will more than likely get bored, but if so, will do some volunteering and/or minimal hours of paid work.

You can retire at any age you wish? 

How do you figure that isah?


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