Early Retirement for Expats Living in Australia


Expatriates around the world, according to a recent survey have rated Australia as the number two best place to live. Over three thousand people, living in over fifty different countries participated in the Expat Explorer survey that was conducted by HSBC Bank International. The lifestyle, weather and integration abilities with the locals are just a few of the reasons that were given as to why Australia is such a great place for expats.

The participants in the recent study were asked to rate accommodation, ability to make local friends, ease of locating accommodations and organizing finances, family life, food, healthcare, working hours and social life. The results of the survey indicated that the expatriates living in Australia enjoy an improved quality of life and often choose to stay abroad. In fact, more than fifty-percent of the expatriates who live in Australia own property in the country.

Close to fifty percent of the people choosing to remain abroad, give credit for their decision to the quality of life and improved environment. Another forty-five percent claim the improvement to personal health convinced them to stay.

However, one of the main reasons for choosing Australia is the fact that expatriates living in Australia tend to retire much earlier than those who live in the other regions. A survey conducted by the Australian Bureau of Statistics indicated that the average retirement age of people over the age of forty-five living in Australia was about fifty-three. The survey also revealed a huge disparity between the age at which women retire and the age at which men retire. Men tend to remain in the workforce until reaching the age of fifty-eight, while women usually leave the workforce at the tender age of forty-nine.

In another study, the ABS Multiple Purpose Household Survey, it was discovered that nearly sixty percent of the women living in the country had retired when they were less than fifty-five years old, and only eight percent worked until they were sixty-five or older. The best part about retiring in Australia is the fact that the majority of the people interviewed were confident that they would be financially secure when it came time for them to retire, no matter which age they decide to leave the workforce.