Aussie retirees are rewriting the retirement script, embracing a fitter and more adventurous lifestyle post-work. This shift is exemplified by Bill Bardsley, a 71-year-old retired operations manager who has completed over 100 marathons, an achievement he didn't embark on until his mid-50s.
"It was a natural progression from my career, where I was driven by targets and accomplishments. I wanted to maintain a sense of routine and achievement in my retirement, but without the pressures of work," Mr. Bardsley shared with NewsWire.
Starting with triathlons, Mr. Bardsley soon focused on distance running, a sport he excels at despite admitting to being a "terrible swimmer." His goal for 2026 is to run six marathons and several half marathons, aiming to improve his speed despite the challenges of aging.
"For older Australians, it's crucial to find a sense of purpose in retirement. My wife and I combine our love for running with travel, exploring new places and camping around marathon destinations," he explained.
Retirement as we know it has evolved significantly over the past two decades. Mr. Bardsley is part of a growing group of "down-agers," a term coined by Australian Super, who are challenging traditional retirement norms and embracing a more active and adventurous lifestyle as they age.
According to the Australian Bureau of Statistics, the average retirement age is now 57.3 years, with retirees enjoying over 25 years post-work. These retirees not only have longer life expectancies but also larger retirement balances, providing more flexibility and opportunities during their twilight years.
Ross Ackland, head of guidance and advice at AustralianSuper, highlighted the evolving nature of retirement for Aussies. "We're seeing a group of retirees who are redefining retirement, seeing age as just a number. With longer life expectancies and higher balances, their lifestyles in retirement are also evolving," he said.
To make the most of these post-work years, Mr. Ackland emphasizes the need for planning. With over 2.5 million people expected to enter retirement in the next decade, he urges Australians to plan for their ideal retirement, utilizing various tools and resources to educate themselves.
"It's about deciding the lifestyle you want in retirement and understanding the costs involved. This forms a great foundation for planning the steps to retirement. Choosing the right superannuation fund and considering an account-based pension can be key to ensuring your money continues to work for you in retirement," Mr. Ackland advised.
Mr. Bardsley's advice to future retirees is straightforward: "Focus on your health and financial well-being. Save for retirement, even if it's just a little. I started planning more aggressively in my 50s, adding to my superannuation to ensure I could live the lifestyle I wanted post-work."
The story of Mr. Bardsley and other down-agers challenges the traditional notion of retirement, inspiring a new generation of Aussies to embrace an active and fulfilling retirement.
