There are 4.8 million Australians aged between 55-76, projected to reach 8.8 million by 2055.
The current retirement age is 65 years, due to rise to 67 years by 2023.
Over 40% of people aged 65-69 have no superannuation.
77% are not confident in their ability to maintain a comfortable living standard.
70% of Australians over the age of 65 receive the Age Pension
The cost of living is increasing at a greater rate than their income.
They know that they will most likely live longer than they expected which means they have to stretch their savings.
Freeing up equity from the family home is not a negative if they can still own a home.
The sense of belonging to a community is key in their decision making.