The silver tsunami

an enquiry into the financial needs, preferences and behaviours of retirees

Barbara Chambers, Ruth Walker, Jun Feng, Yuanyuan Gu*

*Corresponding author for this work

Research output: Contribution to journalArticle


Understanding the financial needs and preferences of retirees is critical for retirement income policy and product design. Today, Australian retirees are accumulating record levels of retirement savings in order to generate retirement income. Using qualitative and quantitative research methods, we find that retirees value leisure spending, but do not plan for long-term health and care needs. Moreover, retirees value risk protection but are unwilling to forgo potential investment gains. The differing levels of importance that retirees attach to aspects of retirement, health, intergenerational planning and family dynamics suggest that retirement income products cannot be ‘one-size-fits-all’.

Original languageEnglish
Number of pages43
JournalAccounting and Finance
Publication statusE-pub ahead of print - 22 Dec 2019



  • Ageing
  • Asset decumulation
  • Financial choices
  • Focus groups
  • Retirement incomes

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