Vanguard's third annual How Australia Retires report offers thorough insights into how Australians are planning for their retirement. The research unveiled a surge in the financial expectations of younger Australians in retirement, with many believing they'll need nearly double what current retirees spend. Vanguard managing director, Daniel Shrimski said: "Our survey shows that many younger Australians have a pessimistic outlook on retirement." In light of the report outcomes, Shrimski urged young Australians to make proactive choices for their retirement futures. Australians who take steps like planning ahead, boosting financial literacy, and engaging with their super feel far more prepared for retirement," he said.