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  • Harper's Bazaar Australia

    IF IT’S BROKE...

    Apr 07, 2019 5 minutes

    MY GREATEST FEAR is being retired, wearing a shapeless polyester outfit and drinking cask wine — all because I haven’t saved enough to afford the lifestyle to which I’m accustomed.

    This isn’t a baseless fear: the lack of money women have in retirement is a big issue. Living in poverty is a very real prospect for millions of women aged 55 and older. Research by Australia’s Superannuation Industry (ASFA) shows just 18 per cent of women aged between 55 and 59 have saved more than $200,000 for their retirement (although 37 per cent of men have managed it).

    There are a number of reasons women face an uphill battle: we’re time-poor and often juggling work, families and ageing parents, more likely to run a single-parent household after a divorce, typically earn less than men, and yet we live longer. Add to this the

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