New data from the Australian Government’s Moneysmart platform shows that 46 per cent of Australian pre-retirees report low financial literacy and low confidence managing retirement finances.

Dubbo resident Trixie Watts, however, is showing what proactive planning can look like.

A Tjapukai woman with a career spanning health promotion in government and corporate settings, alongside running a family pest treatment business with her husband and son, Trixie brings decades of practical experience in work, business and community to her approach to financial security.

Despite her extensive work history, she admits that superannuation wasn’t something she actively focused on during much of her working life.

“Superannuation was something that I never knew much about. I just went to work, got paid and that was it,” Trixie said.

Trixie spent many years working hard before turning her attention to her financial future, finding herself among the 58 per cent of pre-retirees who report wanting to learn more about superannuation and retirement.

To build her understanding, she turned to Moneysmart – a free and independent financial guidance platform provided by the Australian Securities and Investments Commission (ASIC).

“It was very helpful to see where I am now and then it’s helped me to plan where I need to be, and then beyond retirement,” Trixie added.

Research commissioned by ASIC shows a distinct planning and readiness gap among Australians aged 50-66, where only 18 per cent have a clear plan in place.

“For anyone that’s really struggling to even talk about their super or put things into place, I would recommend that they use Moneysmart to have more understanding about where they’re going and to be able to make those decisions about their retirement,” Trixie said.

This low retirement confidence is higher among women, with only 33 per cent of female pre-retirees confident about managing their retirement finances. This is compared to male pre-retirees, where 43 per cent feel confident about their situation.

“With Moneysmart, you can seek information at any age... Our Mob work all their lives and are entitled to a better lifestyle, just like anyone else,” she added.

For Trixie, retirement planning is ultimately about creating opportunities to spend time with her grandchildren and supporting her family.

“Retirement to me means security. That’s what I want to be – secure.”

Pre-retirees may be able to prepare for retirement sooner with Moneysmart’s free tools and calculators. To explore retirement planning resources or use the retirement planners, visit moneysmart.gov.au/retirement.