New Research Shows Thousands Of Retirees Will Run Out Of Cash

New Research shows thousands of retirees will run out of cash and the Property Market still going strong.

How much do you have in your Nest Egg for retirement?

Sobering information just recently through, showing many Australians are facing life on the Age Pension, with new research showing around half of all retirees are drawing down more than the regulated minimum from their superannuation accounts.

Some have sufficient funds to make their nest egg last, but a high percentage – at least one in five, according to the research – will likely run out cash.

The great retirement cash drain

Specifically, the studies based on data compiled by 15 superannuation funds encompassing more than $12 billion of assets show that more than 25 per cent of retirees are drawing out 6-10 per cent of their funds each year.

Preliminary auction results show highest clearance rate since June 2015, with 77.8 per cent of homes sold at auction.

The capital city clearance rate continued its upwards trend, with preliminary results showing that 77.8 per cent of reported auctions across the capitals were successful. The strong trend in auction results over recent months has been achieved on falling auction volumes, suggesting the buyer demand is outweighing the supply of homes being taken to auction.

Investor lending picks-up in June

The Australian Bureau of Statistics released housing finance data for June 2016 earlier this week. The data showed that the value of housing finance commitments was recorded at $32.6 billion which was the highest value since August 2015.

The $11.8 billion in lending to investors was 3.2% higher over the month, at its highest level since August 2015.

Property Club members have continued to benefit from our extensive Research and more, with 5,000+ members in our Millionaires Club!

Property Club members are having a lot of success with Club research assisting them to acquire a residential property portfolio, that will give them more choices in retirement!

Make sure you contact your Property Mentor to assist you to catch the wave as well!

Have a great weekend and catch you next week!

Warm Regards,

Troy Gunasekera National Manager Property Club