Alex Jamieson warns: Budget changes will push Australian wealth offshore and derail retirement plans
Announcement posted by Invigorate PR 13 May 2026
Australia's retirement system is facing a potential shake-up, with leading financial adviser Alex Jamieson warning that recent Federal Budget measures could have unintended consequences, including driving investment offshore and forcing Australians to rethink how they build wealth for retirement.
Founder of Jamieson Private Wealth, Jamieson said the changes are already raising serious concerns among investors, particularly those relying on superannuation and property as long- term wealth strategies.
"We are seeing a growing level of unease among investors who are questioning whether the current system will continue to support their long-term retirement goals," Jamieson said.
"When confidence in domestic investment settings starts to weaken, capital does not sit still, it looks for alternatives."
Will Australian money leave Australia?
Jamieson said one of the most significant risks is a gradual shift of capital away from Australia into overseas markets and alternative investments.
"SMSFs and sophisticated investors are already exploring opportunities in international markets, private equity and more flexible structures," he said.
"If domestic settings become less attractive, there is a real risk that more capital will flow offshore."
He said this could have broader implications for the Australian economy.
"When investment leaves the country, it reduces the pool of capital available to support local growth and development," Jamieson said.
"That is something policymakers need to consider very carefully."
Property and super under pressure
The Budget's broader impact on property and wealth creation is also raising concerns.
Jamieson said the reduced ability to generate wealth through property, whether through investment assets or the family home, could significantly impact long-term retirement outcomes.
"For decades, property growth has been a cornerstone of household wealth in Australia," he said.
"If that growth slows or stalls over the next five to ten years, it fundamentally changes the retirement equation for many Australians."
He said this has a direct flow-on effect to superannuation strategies.
"Downsizer contributions and retirement planning often rely on property appreciation," Jamieson said.
"If that appreciation is no longer there, the entire strategy becomes less effective."
Employees 'wearing the cost'
Jamieson said everyday Australians are likely to feel the impact most acutely.
"Employees are being heavily impacted and the offsets and deductions on offer are unlikely to fully compensate for the loss of other benefits," he said.
"This puts additional pressure on households that are already dealing with rising living costs."
He warned this could extend working lives.
"If wealth accumulation slows, people may need to work longer to achieve the same retirement outcomes," Jamieson said.
"That is a very real possibility. I am hearing some people in their 30s, 40s, 50s and 60s already talking about having to work for at least 10 years longer than first planned. This is significant."
Commercial property and new builds not immune
While some asset classes may appear less affected on the surface, Jamieson said the broader environment still presents challenges.
"Commercial property is currently excluded from some of the proposed changes, which may provide a level of insulation," he said.
"However, rising interest rates and economic pressures are still likely to impact growth and performance."
He also cautioned against assuming new apartment developments will fill the gap.
"Historically, new apartments have struggled as investment assets because the value is heavily weighted towards the building rather than the land, and buildings depreciate over time," Jamieson said.
"That makes them less attractive as a short-term alternative."
A shift in investor behaviour
Jamieson said the combined impact of policy changes, market conditions and economic uncertainty is driving a shift in how Australians think about investing.
"Investors are becoming more strategic, more globally focused and more cautious about where they allocate capital," he said.
"They are looking for flexibility, diversification and resilience. They are also looking for consistency which is the cornerstone of a strong economy and sound investment strategy. Unfortunately this is something which our nation is now lacking and this is quickly eroding confidence everywhere."
He said this trend is likely to accelerate.
"If domestic settings do not support long-term wealth creation, investors will adapt," Jamieson said.
"They always do."
A critical moment for policy
Jamieson believes the current environment represents a pivotal moment for Australia's retirement and investment landscape.
"Policy decisions made now will shape how Australians build and protect wealth for decades to come," he said.
"It is essential that those decisions consider not just short-term outcomes, but long-term consequences."
He said maintaining confidence in the system is critical.
"Superannuation and investment frameworks rely on trust and stability," Jamieson said.
"If that confidence is undermined, it becomes much harder to achieve the outcomes the system is designed to deliver.
"If we make it harder for Australians to build wealth locally, we should not be surprised if that wealth looks elsewhere.
"This is about ensuring Australia remains an attractive place to invest, save and retire."
About Alex Jamieson
Alex Jamieson is one of Australia's most trusted and respected financial advisers and the founder of Jamieson Private Wealth, a Melbourne-based advisory firm delivering sophisticated, personalised financial advice to individuals, families and business owners.
With decades of experience across financial planning, investing and retirement strategy, Alex is known for combining deep technical expertise with a disciplined, long-term approach to wealth creation and protection. His advice is grounded in rigorous research, responsible investing principles and the intelligent use of technology to monitor local and global markets for opportunities, risks and emerging trends.
Alex holds his own Australian Financial Services Licence (AFSL) and is widely regarded for his integrity, clarity and commitment to helping clients make confident, informed financial decisions. He specialises in retirement planning, investment management, tax optimisation, estate planning and risk management, tailoring every strategy to reflect each client's goals, values and stage of life.
Jamieson Private Wealth represents the evolution of Alex's advisory career delivering next- generation wealth advice built on experience, insight and trust.