\u201cThe stereotype of the digitally challenged senior is outdated. Today\u2019s retirees are as connected as anyone, and this is reflected in their household budgets,\u201d said ASFA CEO Mary Delahunty.<\/p>\n
\u201cSomeone retiring in 2025 likely had their first mobile in their 30s, a Hotmail account in their early 40s, a BlackBerry device in their 40s, and their first iPhone in their early 50s. They were using digital tech before their children.\u201d<\/p>\n
Beyond tech, retirees are being squeezed by price hikes in essentials:<\/p>\n
Private health insurance:<\/strong> climbed 3.7 per cent \u2014 the steepest quarterly rise since 2018.<\/p>\n<\/li>\n Electricity:<\/strong> surged another 8.1 per cent this quarter, on top of last quarter\u2019s 16.3 per cent spike.<\/p>\n<\/li>\n Fruit and vegetables:<\/strong> lifted by 4.3 per cent.<\/p>\n<\/li>\n Clothing and footwear:<\/strong> edged higher by 2.6 per cent.<\/p>\n<\/li>\n International holidays:<\/strong> jumped 4.7 per cent, driven by Europe\u2019s peak tourist season.<\/p>\n<\/li>\n<\/ul>\n There was some relief at the petrol pump, with fuel costs falling 3.4 per cent, while insurance overall dropped 0.5 per cent\u2014its first decline since 2019.<\/p>\n With so many essential costs rising, stretching superannuation further has never been more important.<\/p>\n \u201cWe continue to see steep cost-of-living increases for retirees. Superannuation matters more than ever in delivering the dignified retirement Australians deserve,\u201d Delahunty said.<\/p>\n