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Australians daring to dream again; not without regrets

New research into Gen Y, Gen X and Baby Boomers’ financial hopes and fears

Our nation is more optimistic than it has been in years according to new research released by the Financial Planning Association of Australia (FPA) into Australia’s financial hopes and fears for the future. One in two of us dream more about our future now than we did five years ago, with women daydreaming about their future more than men.

A buoyant 82% of us are full of self-belief in our ability to achieve our goals, which include full financial independence (59%) and more free time to spend with those we love (43%); though not without regrets, or fears.


Somewhat concerning to the FPA is that few of us have made intentional plans to bring those dreams to fruition. A massive 63% of Australians (3 in 5) report having made “no plans” or “very loose plans” for how to practically achieve the future we dream about so optimistically. And one in four of us (25%) never seek advice from others when making financial decisions.

The Dare to Dream national survey of 1,016 working age Australians conducted by McCrindle Research has been released by the FPA today to mark the beginning of Financial Planning Week 2016 (runs 22-28 August 2016). Social commentator, author and speaker, Jane Caro is an Ambassador for the FPA’s Dare to Dream campaign, which FPA CEO, Dante De Gori, CFP® hopes will raise awareness of the power of sound financial advice to unlock people’s dreams.

“Given record high property prices and levels of personal debt, it is surprisingly wonderful to see in the Dare to Dream research results that we’re daring to dream as a nation again. I truly believe if more Australians seek the advice of a trusted CERTIFIED FINANCIAL PLANNER® professional, we’ll be able to make those dreams happen – and we’ll be happier and stronger as a nation, and individuals,” said Mr De Gori.

Regrets and Fears

For all its optimism, the FPA’s Dare to Dream research also shows most of us have financial regrets – namely that we have not saved (47%) and not invested (27%) as much as we thought we should have. Only 35% of women aged 20-51 are happy with what they’ve achieved in life so far.


Looking ahead, women are significantly more likely than men to be fearful of always being in debt beyond their ability to pay it off (24% of 20-51 year old women compared to 14% of same age men). Reflecting a strong conservative streak in our traditionally “happy go lucky” nation, one in four report having never done anything risky in the past with life or money. To see all the results, the FPA’s Dare to Dream visualisation report is available for public download here>

Australia’s Four Dreaming Personalities

The FPA’s research identified four financial personalities in Australia, listed below, personifying our aptitude for risk and forward planning.  Take the free online quiz to find out your financial dreamer personality>>

  • MOVERS & SHAKERS (33% of Australians based on Dare to Dream research) – takes calculated risks for significant gains, focused on saving for the future. Most Australian men fall into this category.
  • RULE KEEPERS (40%) – likes playing it safe by taking minimal to zero financial risk. Most Australian women fall into this category.
  • POKER MASTERS (12%) – daring when it comes to finances, and willing to take substantial risks for significant gains.
  • EASY RIDERS (15%) – often spontaneous about spending money, likes to play it safe and keep financial risks to a comfortable minimum.


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