Baby Boomers rate financial independence as costing $750,000 and wish to retire early but do not see their superannuation as the answer, reflecting a change in sentiment.

In a new study assessing attitudes to individual financial health, Baby Boomers said they were focused on building personal wealth but only 52% see their superannuation as a way to help them achieve their financial independence.

According to super fund Sunsuper, the study by Ipsos found that out of 1300 Australians across Gen Y, Gen X and Baby Boomers demographics, the common perception is for financial independence to cost $750,000.

The 'Great Australian Dream' was rated by survey respondents as being either financial independence, winning the lottery, buying a new car and taking a family holiday with owning your own home the fifth rated spot.

"The need for financial security is what is driving Australian's dreams and attitudes to wealth generation," said Teifi Whatley, Sunsuper's general manager, customer experience.

While only 52% of Baby Boomers were expecting their super to provide for the financial independence, 41% of Gen X and Gen Y also held this view.

"On the other hand, 41 per cent of Gen Y and X see superannuation as being able to help them achieve their financial dreams, despite the fact that many are decades away from accessing this capital. We expected them to be more focused on shorter term financial goals such as owning a home or new car."

According to the research, the rising cost of living was the main issue for their savings with Baby Boomers also more likely to blame the GFC, while Gen Y and X were most likely to blame their bosses and poor salaries for impeding their earning and saving ability.

Sunsuper will be releasing six reports in the 2012 as part of its Sunsuper Wealth Index series about Australians' dreams and attitudes towards their finances.