It seems that every major market shock feels unique at the time. After 9/11, the world felt irreversibly changed. COVID also felt like a rug had been pulled from under us, our focus shifting abruptly to life and death and the markets responded. Today is no different, with conflicting narratives and media amplifying worst case scenarios sending people running to the petrol stations, at least it makes more sense than toilet paper. Concepts such as cost of living pressures and stagflation dominating headlines, reinforcing a sense of uncertainty that feels all too familiar.
Ongoing conflict in the Middle East continues to ripple through global markets, contributing to volatility across energy prices, supply chains and investor sentiment. At the same time, artificial intelligence is reshaping industries at a pace few of us have experienced before, changing how we work, how businesses operate and, ultimately, how long careers may last. How are we to keep up in this ever-changing world?
Add rising cost of living pressures into the mix, and it is little wonder anxiety levels are creeping higher, particularly for those approaching retirement.
Recent research from the Australian Securities and Investments Commission (ASIC) highlights just how real this concern has become. Almost half of Australians aged 50–66 worry they will outlive their savings, despite Australia having one of the largest superannuation systems in the world, now totalling around $4.5 trillion (ASIC, 2026; APRA, 2026). Only around a third of people in this age group feel confident they will be financially comfortable in retirement (ASIC, 2026).
This nervousness does not stem from a lack of assets alone. ASIC also found that 46% of respondents report low financial literacy and limited confidence in managing their finances once they stop working (ASIC, 2026). For many, the shift from accumulating wealth to drawing an income is unfamiliar territory and when you add backdrop of volatile markets and economic change.
Separate research from Challenger reinforces this theme, with cost of living cited as the dominant concern for Australians over 60 for the third year in a row (Challenger, 2026). Essentials such as housing, health care and insurance continue to weigh heavily on retirement budgets, even as superannuation balances appear larger on paper than ever before (Challenger, 2026).
Yet it does not have be bleak.
Many older Australians remain broadly optimistic about retirement, and an increasing number are choosing to remain in the workforce into their late 60s and 70s. Flexible work arrangements, consulting roles and part time employment are helping people stay engaged for longer sometimes by choice, sometimes for financial reassurance (Bloomberg, 2026; KPMG, 2025).
Retirement today doesn’t need to be a single fixed event. Instead, it can be a transition and for some, a series of stages that blend work, lifestyle and financial decisions over many years.
This is where financial planning plays its most important role.
Financial planning is not about predicting markets or avoiding volatility, as we know this is not possible. It is about planning for lifestyle outcomes, understanding the risks that matter most, and ensuring financial decisions support the life someone wants to live.
Market risk, inflation risk, longevity risk and lifestyle risk are all interconnected. Decisions around when to retire, whether to keep working, how much income to draw and how to invest along the way can materially shape the retirement experience. Without a clear strategy, volatility can feel overwhelming. With one, it becomes something that can be managed.
Sitting down with a qualified financial planner allows people to step back from the noise and focus on what truly matters: defining objectives, stress testing different scenarios, and building a plan that adapts as markets, technology and personal circumstances change (ASIC, 2026).
In an era defined by geopolitical uncertainty, rapid technological disruption and rising living costs, confidence does not come from certainty it comes from preparation. And for many Australians approaching retirement, that preparation may be the difference between fear and lasting peace of mind.
References
Australian Prudential Regulation Authority (APRA) (2026) APRA releases superannuation statistics – December 2025. Available at: https://www.apra.gov.au/news-and-publications/apra-releases-superannuation-statistics-for-december-2025 (Accessed: April 2026).
Australian Securities and Investments Commission (ASIC) (2026) From anxiety to action: Helping Australians to plan for their financial future. Available at: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-074mr-from-anxiety-to-action-helping-australians-to-plan-for-their-financial-future/ (Accessed: April 2026).
Bloomberg (2026) Half of Australians near retirement fear running out of cash. Available at: https://www.bloomberg.com/news/articles/2026-04-13/half-of-australians-near-retirement-fear-running-out-of-cash (Accessed: April 2026).
Challenger Limited (2026) Retirement Happiness Index 2026. Available via: https://www.ifa.com.au/retirement-happiness-rises-but-cost-pressures-weigh-on-confidence/ (Accessed: April 2026).
KPMG Australia (2025) Retirement age rises as older Australians keep working. Available at: https://kpmg.com/au/en/media/media-releases/2025/09/retirement-age-rises-as-older-australians-keep-working.html (Accessed: April 2026).
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