Retirement

Retirement for many Australians will not be a happy experience. Based on figures from the Australian Bureau of Statistics.

Only 1% of Australians will be financially independent, leaving 99% of people at various levels of discomfort financially.

It is a fact that the age for retirement is increasing, made worse by the pension amount decreasing. As we are an ageing population the pension will one day be unsustainable, hence why superannuation was introduced, to overcome the failing pension.

Unfortunately, for many Australians, the superannuation scheme will never create the funds needed for retirement. With many Australians not paying attention to Super returns, others have more than one super account, paying multiple fees. It is also unfair towards women as they take time off work to raise a family, their super can be eroded by fees.

The standard super contribution is only 9.5 %. This will never generate what is needed for a comfortable retirement.
This being said, it is very important to plan for retirement from as young as possible. Don't leave too late!

Finance Planning & Investment are here to assist and guide their members to financial freedom. Every Australian should enjoy a comfortable retirement.