Young Australian educators are prioritising retirement savings ahead of traditional life milestones such as home ownership, travel and starting a family, according to new research from NGS Super that points to a growing focus on long-term financial security.
Of the nearly 500 Australian education workers aged 18-35 surveyed, 79 per cent said saving for retirement was personally important to them – significantly higher than those who rated saving for a home deposit (55 per cent), a dream holiday (58 per cent) or major life events such as a wedding or having a child (52 per cent) as important.
While day-to-day financial pressures such as making ends meet (85 per cent) and increasing income (81 per cent) remained front of mind, the findings suggested a shift in how young educators were defining financial success – placing greater weight on long-term stability than on traditional financial milestones in the near term.
NGS Super CEO Ms Natalie Previtera said the findings challenged the idea that younger Australians were disengaged from their financial future.
“It’s striking that young educators are placing more importance on retirement than on milestones that have traditionally defined financial progress, like buying a home or starting a family,” Ms Previtera said.
“That suggests we’re seeing a shift in how younger Australians think about financial security – one that’s more long-term, but also more cautious.
“Planning for a comfortable retirement and living a full life shouldn’t be mutually exclusive. When people in their 20s and 30s are already thinking this way, it raises important questions about whether the system is giving them the confidence to pursue both.”
More young educators engaging with super
NGS Super Certified Financial Planner Mr Toby Perkins said he had seen a gradual increase in engagement with super among members aged under 35 in recent years.
“There’s a stronger understanding now among our younger members that super is their money, rather than something distant or abstract,” Mr Perkins said.
The research also found that while 21 per cent of young teachers knew their super balance to the nearest $1,000 and 44 per cent knew their approximate balance, 25 per cent had only a vague idea and 11 per cent had no idea what their balance was.
Mr Perkins said building simple habits early could help young members stay on track over time.
“For many young educators, the focus will rightly be on day-to-day finances,” Mr Perkins said.
“But simple steps – like regularly engaging with your super and understanding how it’s working for you – can put you in a stronger position over time. That’s what helps people take control of their financial future and enjoy life, both before and after retirement.”
