Retirement Years Not So Golden


By John Collett

The retirement years of many people are not as “golden” as is commonly believed, with 40 per cent of retirees saying they have been forced into retirement due to redundancy or illness before they were financially ready.

A survey by Mercer reveals a significant gap between expectations and the reality of retirement. Most people are retiring close to the age of 60, with only 3 per cent retiring at 70 or older. That is despite older people saying they want to work for longer.

“Our research shows uncontrollable triggers can derail the best laid plans for retirement,” says David Anderson, Mercer’s managing director.

He says we are living longer but retiring earlier than we expect to, which means more years to fund in retirement and fewer working years to save for it.

While the Mercer research does not break down the experiences of retirees by their previous occupations, it is well known that those in some occupations are hit particularly hard by enforced early retirement.

To read the rest of the article please click HERE.

Learn More.

Is now a good time to invest in property?

This content is password protected. To view it please enter your password below: Password:

CoreLogic’s national home value index for October

Australian home values continue to rise, with Brisbane leading the charge in October CoreLogic’s national home value index, released on Monday morning…

APRA announces changes to lending laws

Today APRA announced changes to loan serviceability expectations which raise the interest rate buffer from 2.5% to 3.0%. OpenCorp CEO, Matthew Lewison…