Welcome to the Retirement Sandwich, a growing challenge for nearly half of Australians over 50. Many are juggling financial and emotional support for both older and younger generations, stretching their own retirement dreams thinner than ever before.
Findex's latest research indicates that 43% of Aussies anticipate that they will need to support family members throughout their retirement. And this isn’t a short-term trend – it's set to continue across generations. Over half of Australian Millennials (51%) already anticipate they'll be in the same position.
The traditional idea of retirement—carefree and self-focused—has changed permanently. It's time to reassess what this stage of life can really look like in today’s world.
Australians are living longer, and aged care needs are increasing. Many families are stepping in to fill the care gap for elderly loved ones —both financially and physically. At the same time on the other end of the age scale, skyrocketing property prices, higher education costs, and job instability are delaying financial independence for young adults.
For those stuck in the middle of this sandwich, the dream of a restful, secure retirement can begin to feel out of reach. Superannuation balances are stretched. Retirement savings are increasingly redirected toward medical bills, aged care costs, or helping a child with a home deposit. The financial and emotional toll mounts.
And through it all, retirement plans quietly stall.
Cultural expectations of family support, including caring for elderly parents or helping adult children get on their feet, are leaving many feeling overwhelmed and financially unprepared. This is often compounded by a lack of superannuation knowledge. This unspoken strain often goes unnoticed until it's too late, silently eroding savings and personal wellbeing. Now, one in three Australians doubt they will have enough money in retirement. Without the right guidance, it’s easy to sacrifice your future to meet everyone else’s needs.
This increased financial pressure is forcing many Australians to make tough choices and lifestyle changes in their later years. They may delay downsizing, due to the need for a multigenerational home. Some may pause their healthcare, postpone travel, and let other retirement goals slide. Some may even have to go back to work. According to survey data, 28% of people find it unlikely they will be able to stop working at their desired retirement age.
The truth is, Australians can’t afford to ignore the burden of intergenerational financial support. Unfortunately, super isn’t stretching far enough. Many underestimate how long they’ll live and how much they’ll spend; and the Retirement Sandwich only increases the pressure.
Getting real about boundaries is crucial. Helping your family doesn’t have to mean sacrificing your financial security. In fact, those who seek advice and plan for intergenerational support are twice as likely to feel confident about retirement.
With the right guidance, you can take practical steps towards the life-after-work you want. For example:
Optimising your super
Preparing for aged care
Creating a thoughtful estate plan
Investigating passive or part-time income streams
Navigating tough family finance conversations with clarity and care.
Survey data shows that Australians who get financial advice feel more confident and prepared for retirement. Around 76% believe they’ll retire at their preferred age, and 80% are confident their money will last—compared to just 58% and 59% of those without advice.
Yet many people still postpone seeking advice, hoping things will sort themselves out or get easier with time. But delaying retirement planning—even by just a few years—can significantly impact your quality of life in your later years.
What’s at risk isn’t just financial security. It’s your independence. Your peace of mind. Your ability to live life on your terms.
Retirement planning needs a generational reset. Unfortunately, what worked for your parents may not work for you. This also includes perspectives on financial advice when planning for retirement. Financial planning is not a luxury; it can help you protect your freedom, flexibility and future.
With the right support, you can still achieve your retirement goals, even if you find yourself stuck in the Retirement Sandwich. Australians are redefining retirement through part-time work, business ventures and family caregiving — but this shift demands both financial and emotional readiness.
If any of this resonates with you, now is the time to act and secure the guidance of a financial advisor. You may have spent years supporting others around you. It’s time to also support yourself.
At Findex, we understand the unique challenges of the Retirement Sandwich generation. We work with Australians every day to help them strike the right balance between supporting family while still prioritising their own future.
Our holistic approach to wealth management can help you:
Understand your current financial position
Build a strategy that supports your retirement goals and longevity
Protect your family without compromising your own wellbeing
Claim back your retirement years!
This phase of life may come with some tough choices but they don’t have to be made in isolation. With expert financial advice and a clear roadmap, you can move from feeling overwhelmed to feeling in control.
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