NEWS – 40% of Australians retire 5 years before financially ready

NEWS – 40% of Australians retire 5 years before financially ready

40% of Australians retire 5 years before financially ready

It seems there are factors OUTSIDE people’s control that could mean you become one of the 40% of Australians who retire before you are financially ready – 5 years too early!

Nicholas O’Donoghue writes in Money Management –
“Uncontrollable factors are derailing the best laid retirement plans of many Australians, with the average retiree outliving their superannuation savings by five years, new research reveals. Data from Mercer’s ‘Expectations versus reality of retirement’ survey showed that 40% of Aussies were forced into earlier retirement before they were financially ready, due to redundancy or for health reasons. While half the population underestimated their life expectancy by more than two years, with one in four white collar workers living four years longer than average. Although the survey found that a large proportion of pre-retirees & retirees were concerned about the longevity of their savings, Mercer’s managing director and Pacific market leader, David Anderson, said few had a formal plan to address this issue, with just one in three engaging a financial planner.

“Despite most of us believing we’ll work and save for our retirement well into our 60s, the reality is that uncontrollable triggers can derail the best laid plans for retirement,” he said. Read MORE

Get our FREE Expert Guide Self-Managed Super and You – it has all the info you need to know, with bonus TIPS and CHECKLISTS  to determine if SMSF is for you and what steps are needed to set up, as well as how to get your SMSF set up FREE . It also gives you ALL the Aust Tax Office publications about SMSF (NAT XXXX). Get your copy now – click “Download” top right hand side above. You’ll also get monthly SMSF news, investment teaching and upcoming seminar and workshop briefs! Download your FREE Guide now!


About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
This entry was posted in 2 Past Newsletter Topics, News & Stats, Retirement Planning, SMSF Investing, Superannuation General and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s