What will it look like? And how can you best prepare for it now?

Thanks to lifelong learning incentives introduced in the late 2020s, reskilling in your 60s is completely normal. Very few people “keep it cool” anymore, even after being laid off. So the biggest change? We will choose by 2040 When we are just working if We are working.

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Flexibility is the norm and many of us will still earn some income into our 70s, not because we have to but because it keeps us fit, socially involved and the money is nice.

We’re not just after lifespan, we’re also after healthspan

The reality for most of us heading towards retirement in 2040 is that we will live much longer than we once expected. Fifteen years ago, we thought maybe 10 percent of people over 50 would reach 100.

Now that rate has approached 40 percent, as quantum computing and artificial intelligence tackle the biggest causes of chronic disease and death. And knowing this, the way we look at our bodies has completely changed.

In 2040, the four major threats caused by dying at a young age (cancer, cardiovascular diseases, dementia and diabetes) are detected earlier and prevented more effectively. Preventive healthcare has finally become the national obsession it always should have been by the 2030s, and governments have changed the way they drive and fund healthcare to prioritize it.

By 2040, nearly every home uses personal health technology that monitors inflammation levels, muscle mass, bone density, and sleep quality in real time. Microadjustments in diet and exercise have become daily habits.

Strength training is mainstream. Councils have built good outdoor resistance parks alongside walking paths, and each gym offers classes specifically designed for over-50s. People care. As a result, the average 70-year-old now moves the same way a 60-year-old does in 2025; cognitive health is also sharper.

No need for more super, more support and advice from funds

Everyone who retires in 2040 will have super contributions of over 9 per cent for their entire working life, so the balances are much healthier than they are today.

The typical retiree makes about $600,000 to $800,000, and many surpass the million-dollar mark thanks to decades of savings, consistent contributions, and the investment boom of the late 2030s.

The super industry has changed dramatically. Drawdown strategies, long-lasting products, and combining both into hybrid revenue streams are now standard.

Retirees no longer rely on a single account setting or a single approach to investing. Many are blending account-based retirement with a guaranteed lifetime income product to eliminate the fear of running out of savings.

Super funds now spend the same time supporting their members through retirement as they did helping them save for retirement. Lack of advisors is no longer even a topic to talk about, as financial advice is completely automated with AI and everyone has their own personal representative to verify predictions from companies and funds.

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Powerful technology underpins people’s financial decisions, eliminating the enormous conflicts of interest we saw between 2000 and 2030. By flagging risk scenarios in plain language by your own representative, literally on your team, the impact of different choices can be mapped and modeled almost instantly.

People are finally getting accurate, consistent and transparent guidance. Imagine this.

Super’s gender gap has also narrowed. Eventually governments realized that it was much cheaper to top up parents’ and carers’ pensions in the years they gave up paid work than to fund full pensions decades later.

So they made the change: super contributions now flow automatically over recognized maintenance periods, and the money compounds over time rather than leaving a permanent dent in someone’s retirement and the federal budget. This led to women retiring with much fairer balances after 10 years.

Still, retirement in 2040 isn’t cheap. The cost of a comfortable lifestyle of about $75,000 a year in 2025 currently requires about $120,000, and many retirees are aiming for $150,000 to $200,000 in 2040 to enjoy the travel, wellness and lifestyle they expect.

Age pensions still exist, but are more flexible; It rewards those who continue to work part-time during the first half of their retirement, while providing a secure base and ongoing support for those in need.

Purpose becomes the new wealth

By 2040, the science of longevity will truly become mainstream. We know that purpose, relationships, and community are just as important as money and muscle. Retirees create “purpose portfolios” by combining volunteering, mentoring, creative pursuits and community leadership.

Universities run affordable middle-aged and older-life learning programs, and local libraries have become community powerhouses, offering everything from 3D printing workshops to creative hubs and philosophy nights.

Loneliness still exists, but now we talk about it openly and the problem is addressed early. Councils fund local connectivity programs and technology helps people quietly stay engaged without replacing human contact.

Maintenance is finally catching up

The aged care reforms of the 2030s have finally been implemented. Australia now has a proper “home first” care model, where affordable housing is designed into neighbourhoods, rather than hidden on the edges.

Technology does the hard part; Access to care centers are now standard; Fall-sensing floors are common in aging homes, and we rely on smart technology everywhere, from hydration sensors to AI listings for caregivers. Families still carry emotional weight, but the situation is less chaotic. Early support comes into play more quickly, carers have appropriate financial recognition and respite is built in to help, not support.

So what do we do now?

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If we are heading towards retirement in the 2040s, we plan for a longer, healthier, more flexible life. This means three things today:

1. First, make the most of your ability to contribute money to your retirement fund while you can. Maximize concessional contributions in your last 10 to 15 working years and review how your money is invested. Compound track 50 to 65 is strong; It is much more powerful than most people think.
2. Second, start shaping the next phase of your working life. Don’t think of retirement as “stopping”; Think of this as a new phase of life where some of your income comes from passive sources but you still need passions and purpose. What would a fulfilling, flexible, and purposeful work life look like in your 60s and 70s?
3. And finally, take your health span and sense of purpose much more seriously. The future of retirement belongs to those who remain strong, fit, engaged and curious. The science is clear: We can’t control how long we live, but we can control the quality of our lives and the active steps we take to care for our bodies.

Here is the retirement class of 2040; to the generation of retirees who will live longer, age better and pursue a truly epic retirement, and to the super funds that will help us get there.

Bec Wilson is the bestselling author How to Have an Epic Retirement and new releases Prime Time: 27 Lessons for the New Middle Life. Writes a weekly newsletter epicretirement.net and hosts prime time podcast.

• The advice given in this article is general in nature and is not intended to influence readers’ decisions about investments or financial products. They should always seek their own professional advice, taking into account their personal circumstances, before making financial decisions.

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