Retirement is not all but at least a good deal about how you manage your Superannuation. Even if the accumulation phase of a Super looks tardy, it is well compensated by the pension phase when the fund actually begins to deliver the goods.
Tag: retirement Planning Archives
Most of us are convinced about the movement of time. However, we fool ourselves into thinking that others will age, while we won’t. How otherwise can lack of retirement planning be explained? We choose not to pay too much emphasis to it till the time age really knocks on us, and perhaps it’s too late by then. What if we could start planning for those ‘beyond-60’ days when we are in our 20’s? Could be nothing but great! Here are ways on how you can make retirement planning at an early age.
If you go through the Canberra Times, you will find an article by Julieanne Strachan that talks about a number of baby boomers returning to full-fledged or part time work because their Superannuation savings does not have enough legs to carry them through their post-retirement life.
Super system prevalent in Australia does not promise even a decent retirement to all who believe in its competence. This statement, harsh as it may sound, is as close to the truth as it comes. More than half of the pre-retirees will be in excess of $140,000 short at the time of their retirement.
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.