I have news which is enough to send shivers down Gen X andY’s spine. Baby Boomers are at least 4-6 times short of the amount needed for decent post-retirement living. So does it send shivers? Not even the mildest one. Young people think they will never get old and that retirement planning is not something they should spend their time and money on.
It is significant to discuss the amount of retirement planning — or the lack of it — that women of our times indulge in. Find out why women are not so thrilled nor concerned about planning their retirement.
Young people are not saving enough to retire free of stress. What’s worse is that they cannot figure this fact out. Retirees have a forlorn look when they talk to the Gen Y, simply because they know their voice is reaching the younger guys out there, but their thoughts are not.
Australians oscillate between dreams of a comfortable retirement and the biting reality of a modest one. Unfortunately, for many their Super fund might not even be enough to hand them over a modest retirement.