Is Australia the lucky country
Posted on Jun 10, 2010
in Financial & Investment Info
How the budget affects your retirement.
We are consistently told we live in the lucky country, yet constantly we see evidence to the contrary. I would not call it lucky that we have some of the highest interest rates in the world or that we pay more in bank fees and other essential services than many Western Countries. Added to this is the fact that Australia’s average age is increasing and baby boomers who represent more than 30% of our population are now retiring. The facts are that 75% of all retirees are still reliant on some form of government pension, with 50% of these people relying on a full pension at around $14,000. Given this the pension provides more of an existence than…
We are consistently told we live in the lucky country, yet constantly we see evidence to the contrary. I would not call it lucky that we have some of the highest interest rates in the world or that we pay more in bank fees and other essential services than many Western Countries. Added to this is the fact that Australia’s average age is increasing and baby boomers who represent more than 30% of our population are now retiring. The facts are that 75% of all retirees are still reliant on some form of government pension, with 50% of these people relying on a full pension at around $14,000. Given this the pension provides more of an existence than…
