Take the first step for your future: our CEO Alexis George on the key to building retirement confidence for all Australians

Retirement can feel like a distant milestone, yet financial confidence about later life remains low for many Australians. According to the AMP Retirement Confidence Pulse*, just half of Australians feel ready for retirement, with uncertainty and inaction often fuelling anxiety.  

We sat down with our CEO Alexis George who shared her own experiences about preparing for the future, emphasising that taking even the smallest step – from asking questions to using online tools – can make a real difference.  

The AMP Retirement Confidence Pulse shows that only half of Australians feel financially confident about their retirement. If you could send a wake-up call text to the whole country, what would you say? 

That’s a hard question. I completely understand that uncertainty because it’s something I’ve worried about my whole life. For me, it’s really about taking one step forward. We often worry about things but do nothing, and that causes more worry. There are so many tools available now to help educate yourself about the financial aspects you need to think about in retirement.  

I would just say: take one step – ask the question you’re embarrassed to ask, go on the internet, use the retirement tools on amp.com.au – there are a lot of good resources on there, like our AMP Retirement Simulator. But just do one thing today to take that step forward. You’ll feel a lot better about it. 

Was there a moment in your life or career that made you think differently about planning for the future? 

Like everyone else, it’s those moments when you first have a mortgage that are really scary, and you start worrying about how you’ll ever pay it off and what it will mean for you later on. Having children is another factor, and as you get older, retirement feels much closer. It’s those life events that make you rethink things. 

With over 1 in 4 Australians either unaware of their super provider or having never engaged with them, there’s a clear need for greater involvement in retirement planning – particularly among younger people. What is AMP doing to encourage and support this next generation to take charge of their financial future? 

That’s really important, because not all of us understand the importance of compound interest and returns. One dollar in your 20s can add up to a lot in retirement when it’s invested for that period of time.  

Our purpose at AMP is to help people create their tomorrow. We’ve got great solutions, good performance, insurance and service. More importantly, we have good education tools now. We’ve got Digital Financial Advice journeys for no extra fees that you can do in the comfort of your lounge room, and you don’t have to be embarrassed. We can help educate people when they have a bit of time and might be worrying – and you can do it in your own time. The education tools and those solutions, if you start to engage now, will really help you be more aware in retirement.   

We’ve also launched AMP Rewards, so you can roll up a few extra cents into your super when you buy something – those future cents can make a big difference if they sit there for 40 years and earn interest on interest. 

If you could give your younger self some advice about preparing for retirement, what would it be? 

I’ve worked in the financial services industry for most of my career, so it’s not necessarily about the knowledge, but about taking action. I wish I’d started with that extra dollar here and there when I had some capacity earlier. I didn’t start thinking about it until a bit later, and now I understand how much of a difference that can make to your peace of mind and your future. 

What do you find the most rewarding thing about helping Australians feel more confident and supported as they approach retirement and what more do you think could be done to keep the conversation going? 

One of my closest friends has been a nurse most of her life and still works in health. She hadn’t done anything about planning for her retirement and, instead, she’s starting to stress about what her retirement would look like. She’d also been through a divorce, which affects your financial capacity. I finally got her to go and get some financial advice, and seeing the peace of mind that gave her – knowing she was going to be okay if she took certain actions over the next 10 years – is really important. I know the difference advice can make, but it doesn’t have to be traditional financial advice. Not everyone can afford that. Education, Digital Financial Advice and online tools can make a real difference if you do a few things differently. 

The research shows a persistent gender gap in retirement confidence with just two in five women feeling confident compared to nearly three in five men. What’s behind the gap and how is AMP working to help close it and support women to feel more secure about their financial future? 

The reality is that women often do have breaks in their career, whether that’s to have children or care for ageing parents, and that affects their contributions to long-term savings. We’re lucky in Australia to have mandatory superannuation, but not every employer supports that during parental leave. I’m happy to say we do at AMP, for both men and women.  

It’s important to keep educating about the importance of long-term savings and encouraging partners to contribute where they can. At the end of the day, it’s a partnership. These breaks are part of life, so thinking about it as a family unit rather than as individuals is really important. For me, it’s about supporting women when they have those breaks in their career. 

The ‘sandwich generation’ – those in their 40s balancing kids, mortgages and ageing parents – seem to have the least amount of confidence about retirement. What would you share with them from your own experience? 

I’ve been through that – when you’ve got younger children and you’re trying to manage your parents. My parents were on Centrelink, so they didn’t have much money. Time is short, and you’re just barely surviving in those years. If you’re lucky, you get a few hours sleep in between. Make sure you’re contributing towards your superannuation, and if you get a pay rise, maybe put an extra couple of dollars in there. It makes a difference. Honestly, leave the rest. You’ll have more time later. Just do the basics when you’re in that space of worrying about young and old, because it’s hard work.