From first pay cheque to retirement: what Australians told us about investing

Investing is rarely a straight line. The decision to start, how much we feel able to put aside and what we want our money to do can all change as life unfolds. A first job can open up new opportunities to build wealth. A home, a family or aging parents can put pressure on the budget. And retirement changes the purpose of everything we've saved.

To understand how that plays out, Selfwealth by Syfe commissioned YouGov to survey people across Australia, Singapore and Hong Kong about how they invest, what holds them back and how their approach changes at different stages of life. 

One theme comes up again and again: wanting to invest isn't always the same as feeling able to. We call this the intention gap. It can come from competing financial commitments, a perceived lack of investing knowledge or confidence, or simply priorities that shift over time.

There's no single experience of investing, and Australia's picture is distinctive. Australian investors are keener than anyone else we surveyed to invest more, and our youngest adults are starting early. But Australia also has the widest gender gap in retirement savings of the three markets, and many Australians are guessing what retirement will cost. Here's what we found.

Key findings: and what they mean for you

1. 40% of Australians haven’t set a retirement target.

Those who used a calculator or adviser were far more likely to feel on track, so a realistic number is a good first step.

2. One in four under-35s expect to retire before 60, but most rely on super alone.

If you want to stop work before you can reach your super, savings and investments outside super can fund the years in between.

3. 53% say not having enough money holds them back, yet half of investors put in less than 10% of their income.

Investing doesn’t have to start big. Small, regular amounts build the habit.

4. Women report less than half the retirement savings of men, but are more likely to want to invest more.

The intent is there, and confidence and tools can help close the gap.

5. Your next step: You don’t need a lump sum to start.

Selfwealth’s Auto-Invest puts a set amount to work on a regular schedule, so your investing keeps happening in the background. If you want to invest for the long term without choosing every holding yourself, Selfwealth’s professionally managed portfolios give you a ready-built, diversified option, with education to help you understand what you’re investing in.

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The retirement number most of us haven't worked out

When we asked Australians how they'd set their retirement savings target, 40% said they hadn't worked one out at all. Another 21% had picked a round number that "just feels right". Only 15% had used a calculator or an adviser.

You might expect people closer to retirement to have a firmer grip on the number. In fact, it's the opposite. Almost half (47%) of Australians aged 55 and over haven't calculated a retirement target, compared with 29% of 18 to 24-year-olds.

That matters, because people who’ve worked out their number feel much more confident about getting there. Of those who used a calculator or adviser to set their target, 52% feel on track, compared with 20% of those who never worked out a number. 

Having a number tends to go hand in hand with feeling on track. It doesn't need to be a perfect figure. A realistic one gives you something to plan towards, and to adjust as life changes.

Retiring before you can reach your super

One in four Australians under 35 (25%) expect to retire before 60, the earliest age most of us can access our super.

That's a big ambition, and a perfectly reasonable one. But it creates a practical question: if you stop work before you can reach your super, what pays for the years in between?

For most people, super is the foundation of retirement. Two-thirds of Australians (65%) expect it to help fund their retirement. Far fewer (32%) expect investments outside super to play a part.

Super is a strong system, but relying on one bucket leaves less room to manoeuvre. Building savings and investments alongside it can give you more flexibility over when and how you retire, and money you can access before preservation age.

As Samantha Horton, Group COO of Syfe (parent company of Selfwealth) puts it:

"For many people, super feels like the retirement plan that's already taken care of. That's completely understandable. But for many, super alone may not fund the retirement they're picturing, especially if they'd like to stop work earlier, or as living costs rise and people live longer."

Plenty of ambition, but money gets in the way

Australian investors want to do more. 61% said they'd like to be investing more than they do today, the highest of the three markets we surveyed (50% in Singapore, 49% in Hong Kong).

So what's stopping them? For most Australians, it's money. More than half (53%) say not having enough money is a barrier to investing.

Interestingly, Australians are much less likely than people in Singapore and Hong Kong to be held back by worry about losing money (35%, against 49% and 53%). They're also the least likely of the three markets to say they don't know enough about investing (27%).

And investing doesn’t have to start big. Among Australians who already invest, one in two put less than 10% of their monthly income into investments. For many people, the habit matters more than the amount. Tools like Selfwealth’s Auto-Invest can help, by putting a set amount to work on a regular schedule so investing keeps happening in the background, rather than waiting for the “right” moment.

Young Australians are leading the way

Some of the most encouraging findings come from Australia's youngest adults. Three in four 18 to 24-year-olds (74%) say they  invest, and more than a third (34%) say they put over a fifth of their monthly income into investments, more than double the figure when we look across all Australian adults (16%). 

They're also the most confident age group, with almost half (46%) feeling confident making investment decisions. And they're thinking ahead: 71% have set a retirement savings target, more than any other age group.

"Time is one of the most valuable things an investor has, and they're putting it to work," says Samantha.

A gap between men and women

The research also shows a clear retirement savings gap. Australian women report median retirement savings of A$50,000, less than half the A$120,000 reported by men. It's the widest gap of the three markets we surveyed.

Confidence follows a similar pattern: 37% of men feel confident making investment decisions, compared with 23% of women.

But the appetite is there. Among Australians who invest, 64% of women want to invest more, compared with 58% of men. The intent is clear; what's needed is the confidence and the tools to act on it.

How life's big moments change investing

Investing tends to flex around life’s big moments, speeding up at some and slowing down at others.

A first full-time job is the milestone most likely to see Australians invest more: 42% of those who named it as their biggest financial milestone increased how much they invested afterwards, while many others (45%) kept investing about the same.

Buying a first home tends to go the other way. Of Australians who named it as their biggest financial milestone, 53% invested less afterwards. That's no surprise when a deposit or mortgage takes priority. The key is that investing can be paused and picked back up, rather than stopped altogether.

Closing the intention gap

If there’s one thread running through the findings, it’s that Australians aren’t short of ambition. What often gets in the way is a clear picture of where they’re heading, and the confidence to act on it. Putting a number on your retirement, thinking beyond super alone and investing small amounts regularly are all good places to start.

But you don’t have to do it all yourself. For many Australians, paying for financial advice doesn’t feel within reach. The ASX Investor Survey 2026 found 58% of Australians say they can’t afford financial advice, with respondents willing to pay an average of A$1,600 a year. Yet the median annual advice fee is nearly three times that amount.

That leaves a gap between paying for full advice and doing everything yourself. To help bridge it, Selfwealth recently expanded beyond its DIY roots, launching three professionally managed portfolios alongside its self-directed investing platform. They’re designed for people who want to invest for the long term without picking every holding themselves, with education to help them understand what they’re investing in.

Learn more about managed portfolios.

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About the research

The Lifetime of Investing study was commissioned by Syfe and conducted by YouGov. It surveyed 3,315 adults across Australia (1,060), Singapore and Hong Kong in September and October 2026. Results are weighted to be representative of adults in each market. 

This article contains general information only and does not take into account your objectives, financial situation or needs. Consider whether it is appropriate for you and, before making any investment decision, read the relevant Product Disclosure Statement and Target Market Determination, available at selfwealth.com.au. Investments can go down as well as up. Past performance is not a reliable indicator of future performance.