What does financial confidence mean for YOU?
I sit down with Giacomo Tarantolo, Manager of Retirement Solutions at UniSuper to talk about one of the biggest hurdles I see people face in preparing for retirement: financial confidence.
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What does financial confidence mean for YOU?
In this episode of Prime Time, I’m welcoming back Giacomo Tarantolo, Manager of Retirement Solutions at Unisuper, to talk about one of the biggest hurdles I see people face in preparing for retirement: financial confidence.
We go well beyond the numbers and dig into what really makes people feel ready for this stage of life. Even though Australians are retiring with record super balances, only 9% actually feel comfortable about it. Why is that? Giacomo and I unpack the research, the myths, and the practical steps you can take to shift from uncertainty to confidence.
We cover everything from what financial confidence really means, to how retirement is no longer a full stop but a transition with multiple phases. We talk about why social connections and purpose matter just as much as money, why it’s never too early or too late to start taking action, and the small things you can do that make a big difference.
I loved Giacomo’s “Google Maps” analogy for retirement, and I think you’ll find it just as helpful as I did. If you’ve ever felt nervous about whether you’ll have enough, or unsure how to approach the lifestyle and identity changes that come with retirement, this episode will give you both clarity and confidence.
LISTEN TO THIS EPISODE OF THE PODCAST HERE:
Highlights of the conversation:
What financial confidence really means – and why it’s more than just money in the bank.
Why only 9% of Australians feel comfortable about retiring, despite record super balances.
How retirement is shifting from a single “stop work” moment to a long transition with multiple phases.
The role of social connections, identity, and purpose in shaping retirement confidence.
Why it’s never too early (or too late) to take action on your super.
The power of compounding over 15 years – even small changes can have a huge impact.
Practical ways to “trial” retirement before fully stepping away from work.
The difference between financial advice, guidance, and general help – and how to use each.
One small action you can take this week to feel more in control of your retirement.
From Bec’s Desk
This week, if you’re looking to build a bit more financial confidence, here’s a simple goal-setting action list to get you started:
Picture your life after work – write down what a good week in retirement might look like for you and what it is you want to do after you stop working from 9-5.
List your non-negotiables – the people, activities, or experiences you know you want in that stage of life. And if you don’t know what they are then start to brainstorm them.
Think about your numbers – Understand what you want to spend on your needs; and think about the abnormal or exciting expenditure you want to plan into your budget. Then… run your current super balance through the Moneysmart retirement income calculator or try your fund’s tools to see where you stand - how much is it likely to generate in income - and visualise it. Then, start playing with the projection.
Find one small tweak – Try out an extra contribution on the calculator - a change to your investment mix, or another step that moves you closer to your retirement goals.
Talk it through – talk openly with your partner, family, or an adviser, say your goals out loud so they become real, tangible and more fixed in your mind.
Get some advice - it’s something that might really help to build your confidence and put you on the path you want to be on.
Practise - Retirement is not a finish line. Try it out, see if you like it. Lean into the bits you enjoy and change your strategy on the parts you don’t.
Confidence grows when you know where you’re heading and take small, deliberate steps to get there.
Now, while I have your attention, I have a few interesting events coming up around Australia… and I’d love you to come along.
I’m headed to Redcliffe Library in South East Queensland on the 13th September at 11am for an author talk and you’re invited. I’m going to be talking about Prime Time: 27 Lessons for the New Midlife - and we’re going to talk through a few of the biggest lessons. Come along to this free event - places are limited - please RSVP here.
I’ll be speaking at the Australian Shareholders Association Queensland Investor Summit to be held on 22-23 September in the Gold Coast If you’re an active investor - this is an interesting conference to consider. More information here.
And I’m coming to Harry Harthog Narellan (Sydney) on the 2nd October for an evening event and book talk about Prime Time: 27 Lessons for the New Midlife, from 5pm-7pm. More information and RSVP here.
Prime Time is going strong on the Aussie bestseller lists — clearly we’re all ready to rethink midlife and make it count. Get your copy here - or at any Australian bookseller.
Love seeing reviews like this pop up for Prime Time — thank you to everyone who’s picked up a copy and shared your thoughts. It means the world.
