"I see my role if needed as a financial mentor but one who can show warmth, practicality and empathy."
There appears to be a growing share of Australians working past age 65. A survey from the Australian Bureau of Statistics (ABS) showed that this is significantly
higher among women. Click here for more details.
The labour force participation of women aged 55-64 has doubled from 1995 (<30%) to 2015 (~60%).
There are many reasons why people would choose to continue working: financial circumstances, disability, health,
and caring or volunteering responsibilities all play significant roles.
It is also important to note that work satisfaction was one of the big factors: Think about being retired
for 20 years- would you like to have something to do?
Women are shown to be under greater pressure when it comes to caring for older relatives, so they are trying to juggle unpaid carer duties while also working.
One in eight (12.7%) women who care for a relative reported that the main reason for leaving work was to commence their caring role.
How long you need to work until retirement will depend on your specific needs and circumstances. It’s a
balance between how much you could work, how much you want to work, and how much you need to work to
get by on an income you are comfortable with.
If you would like to speak with Katherine Hann regarding retirement planning, contact her for a no obligation
first meeting on 08 8299 9927.