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Why Australians Are Working Longer: When Financial Reality Meets Career Passion
Why Retirement Looks Different Now & What That Means for Your Career
Now is the greatest time to be alive. We have endless knowledge at our fingertips, we are connecting across the world faster than ever, and we are living longer thanks to advances in medicine and a deeper understanding of how to look after ourselves.
Living longer is a gift. While it may mean retiring later, it also opens the door to longer, more fulfilling careers - and the opportunity to reinvent ourselves professionally later in life.
The average Australian now has up to 7 careers in their lifetime*.
That abiding idea you have of retiring at 65 is quickly slipping into the past. Whether out of financial necessity or because people are discovering new passions later in life, more and more Australians are choosing to work well beyond what we used to call “retirement age”.
In this blog, we’ll unpack the big shift: why retirement looks different now, why career regret is more common than you might think, and most importantly, how to take control of your own career journey, no matter your age or stage.
Retirement? It Isn’t What It Used to Be
The New Face of Retirement in Australia
Back in the early 1900s, retirement looked a lot like stopping work at 60 (for women) or 65 (for men), grabbing the gold watch, and heading off into the sunset to enjoy the rest of the life you have earned.
But the world has changed dramatically.
Today, according to the Australian Bureau of Statistics, the average Australian lives to 81-85 years old*. That’s nearly 30 years longer than our great grandparents planned for. Exciting? Absolutely. But this also means that we are stretching those working years out a little longer to support that extra time.
1. We’re simply living longer.
In 1910, Australians could expect to live into their late 50s. These days, we're clocking up more decades thanks to better healthcare and lifestyle habits. With greater longevity comes the need to reconsider how long we work—and how we choose to spend the extra time it gives us
2. Money Matters.
Unfortunately, the cost of living has soared. Housing, groceries, childcare, healthcare, you name it, nobody is spared from more expensive living.
We’ve pulled together some powerful insights from SEEK’s recent research to paint a clearer picture:
** Unless otherwise noted, all percentages referenced in this blog come from SEEK surveys and data.
A staggering 69% of Gen Z already believe they’ll work past retirement age to stay financially secure.
32% of Australians think they’ll be working longer than they want to.
38% say they don’t expect to retire before 70.
These statistics paint a clear picture: many of us simply can't afford to stop working when we hit 65.
3. Life milestones are happening later
Gone are the days of settling down in your early 20s. Today life milestones like home ownership and parenting are occurring later, influencing financial timelines:
The average first-time parent is now in their early 30s, and
The average first-home buyer is 36.
That means mortgages and dependents often stick around well into our 60s, making extended careers a new normal and a necessity.
4. Fulfilment is a powerful motivator.
Not everyone works longer out of necessity. Many work longer due to passion, purpose, belonging, or the joy of being part of something bigger. In fact, according to SEEK, 10% of Australians say they’d happily delay retirement if it meant continuing to feel purposeful and engaged.
Some of the happiest professionals Sharp & Carter work with discovered their true passion later in life, shaped by the lessons learned in their early career.
These people report greater career satisfaction. And we know from experience at Sharp & Carter that passion often aligns later in life, after learning, evolving, and discovering what truly drives you.
Career Regret is Real, but so is Opportunity
The Reality of Career Regret
Let’s be honest: career regret is real, and it’s more common than we think.
Nearly half of Australians experience some form of career regret, often tied to money choices or feeling like they “fell into” a job that no longer sparks joy.
So, why do we feel regret?
For many, it’s because our career choices at 20 don’t necessarily match who we are at 40, 50, 60, or beyond. Our values evolve. Our priorities shift. And sometimes, our jobs don’t keep up.
Certain industries feel this more intensely. People in Consumer Services, for example, report higher-than-average dissatisfaction (35%*).
And let’s not forget the role of money. Financial fear often pigeonholes people. When the bills are due, dreaming about a more fulfilling career can feel risky.
But what if it didn’t have to be? Here’s the encouraging part: Australians are still forward-thinking.
Most Australians are switching careers multiple times in their lives, especially as they pursue more meaningful, work that aligns with values and passions. So, if you’re feeling stuck or unsatisfied, you’re not alone, and there’s a clear way forward.
What you can do if you’re ready for a change:
Building a relationship with a recruitment specialist, even long before you’re ready to jump helps them know you more deeply. By understanding your values, your goals and what makes a role the right fit for you, when the time does come for you to take your next step, you are not starting from scratch. You’ve got someone in your corner who understands your journey and can help you guide you toward the perfect fit for your next job, regardless of where you’re at in your career.
Overcoming the barriers:
Financial Planning: Look at ways to pivot slowly, like part-time or freelance work, while still keeping a steady income.
Find a mentor: People love to help others grow. Begin a conversation with somebody on a path you are inspired by and have a chinwag about how they got there.
Keep learning: Online courses, webinars, and even short certifications can seriously boost your confidence and make the transition feel more achievable.
Focus on your transferable skills: Chances are you’ve already built a toolkit of talents that can apply across industries.
Upskill: Online courses make it easier than ever to build new capabilities, without quitting your job or returning to uni.
Network: Reach out to people doing the work you’re interested in or find a community. Most people love sharing their journey and can point you in the right direction.
The moment a conversation begins, or you take the first action, the daunting prospect becomes less scary and more achievable. A conversation IS the first step!
Later Career Success: You Can Change Careers at Any Age
Long careers are officially the new norm. Plenty of Australians are working into their 70s and loving it. And if you think you’ve missed the boat on changing paths? Think again.
Here’s what works:
Think long-term: Where do you want to be in 5, 10, 15 years? Your future self will thank you for planning now.
Play to your strengths: Identify what you’re naturally good at and seek roles that let those skills shine.
Flexibility is your friend: Consider part-time, contract, or hybrid roles that allow you to explore new paths without burning out.
Want to take it one step further?
Here’s a simple Career Plan Template to get you started:
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And remember, you’re not the only one doing this. Many people have launched new businesses, changed industries, or returned to study well into their 50s or 60s. You can too.
So, What’s the Takeaway?
That idea that we all retire at 65 and fade quietly into the background? It’s outdated.
Australians are working longer, but not just because they must. Retirement is no longer a finish line, but a springboard for reinvention.
For many, it’s about finding purpose, staying active, and doing meaningful work that aligns with who they are now.
How Sharp & Carter can help
If you’re feeling the itch to change careers, switch industries, or simply reassess what “work” looks like for you, take this as a sign. It’s never too late to rethink your path.
Helping people discover fulfilling careers that align with their evolving goals is what what we do best here at Sharp & Carter. No matter your age or experience, we find your passion and see your potential.
We’re here to help you take the next first step.
Start today and connect with a recruitment specialist in your preferred industry. A no-obligation chat about your skills and career path could be one of the best ways to invest in your future, especially with someone who understands the field inside out.
* University of Queensland, 2023
** Australian Bureau of Statistics, 2024
*** SEEK, 2025 Australian Signature Insight Report, “The Evolving Working Life”
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