Want a flourishing retirement? Plant seeds of financial security

A garden in full bloom doesn’t happen by chance. It takes preparation, the right conditions, and a little nurturing along the way. And just as a gardener finds joy in watching their plants thrive, retirees who take an active role in shaping their future are more likely to enjoy a fulfilling and purposeful life in their golden years.

Recent research from Macquarie University and Challenger has unearthed some fascinating insights into what makes for a happy retirement. The study—Australia’s first with those who have a guaranteed regular income—found that purpose was key to retirement satisfaction. Specifically, those who choose when and how to retire enjoy greater wellbeing than those who are forced into it by external circumstances.
 

And much like a well-planned garden, retirement flourishes when financial security is in place—allowing you to focus on what you love, rather than worrying about whether if your savings will last.
 

Cultivating the right conditions

The study found that retirees who proactively decided when to leave the workforce—rather than being driven by factors like age, ill health, or redundancy—reported higher levels of satisfaction and financial security. Having the confidence to retire on your own terms is like knowing your soil is rich and ready to support new growth.
 

Aaron Minney, Head of Retirement Income at Challenger—Australia’s largest provider of guaranteed lifetime income—explains:
"Proactively choosing how and when to retire is the key to wellbeing in our golden years. Our study with Macquarie University found that feeling empowered in this next stage of life results in a healthier transition and greater retirement happiness, adjustment, and satisfaction."
 

But for many Australians, financial uncertainty can make retirement feel more like a battle with weeds than a thriving garden. Close to half (46%) of retirees surveyed were interested in a lifetime income option for at least some of their retirement income—yet fewer than one in 10 Australians currently have a guaranteed income stream. 
 

"Lack of awareness and understanding about retirement income options has been a real challenge for Australians in or approaching retirement," says Minney. "Our customer research tells us guaranteed income helps provide peace of mind and significantly increases retirement happiness. Having a portion of your income  guaranteed to last a lifetime brings an unparalleled sense of security—especially in an environment of high and variable inflation and market volatility."
 

Retirees with a guaranteed regular income can spend their time doing what they love rather than worrying about making ends meet. For many, that means more time outdoors—gardening, spending time with family, or completing their bucket list.
 

The joy of growing in retirement

As gardeners we take pride in nurturing plants, and similarly retirees who invest their time in meaningful activities—whether it’s community gardening, teaching the next generation, or finally creating the veggie patch of their dreams—experience greater life satisfaction.

In fact, 22% of retirees surveyed said the best part of retirement was focusing on what they want to do rather than what they have to do. This was closely followed by enjoying freedom and flexibility (20%), spending more time with family (17%), and travelling (15%). When financial security is in place, retirement becomes a time of growth, discovery, and connection—rather than uncertainty.
 

Planting for the future

As summer fades and seasons shift, a good gardener knows a well-tended garden continues to thrive—just as a well-planned retirement provides financial security for a better retirement, no matter what changes come your way.

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