- 6 June 2016
Retire Right: Is no work all it's cracked up to be?
Retirement is a word that is bandied around a lot; especially as to what people would like it to be!
There was a great article the other day covering this, talking about what about your own retirement? Do you dream of constant holidays? Will a lot of time be spent transforming your garden? Perhaps it's simply the prospect of free (and a spot of family) time that you are aiming for!
It is important to allow for this period lasting up to 30 years!
The challenge is obviously funding this, as the age pension qualification age is now already at 67 and the means test to obtain it will be tightened further from next year, so fewer people will get it.
The 2015 Inter-generational Report revealed there will be double the number of people aged 65 and over by 2055, and it's clear the federal coffers can't subsidise them all. When it was released, former Treasurer Joe Hockey urged Australians to work more and spoke of an "ageing boom" of older workers.
Working until you're 60 or 65 and then retiring is likely to – soon – become a thing of the past. More common will be moving from full to part-time employment, or staying on in a consulting capacity.
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!
Have a great weekend and catch you next week...
Warm Regards,
Troy Gunasekera National Manager
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