It’s no wonder pre-retirees have concerns about the next phase of their lives. Putting together the fragile financial puzzle involving superannuation, the age pension and investments to keep abreast of rising inflation isn’t easy.
No one knows exactly how long they will live. They potentially face a long retirement, ill health, disability and residential aged care.
Will they have enough money to see them out?
“It’s a great, big interconnected ball of decisions, behaviours and a system of government assets and income tests with exemptions and exclusions” says financial planner Peter Humble, at Rise Wealth.
Uncertainty is overwhelming for many pre-retirees, who are much less satisfied with their lives compared with those who have already retired.
Pre-retirees have the lowest satisfaction about wealth, confidence, emotional experience, purpose, connection and control compared with retirees who work part-time, those who are new to retirement, and late retirees, according to Fidelity’s 2021 survey of the four groups.
Fifty per cent of the pre-retirees say financial stress hurts their physical and mental health, while 40% say it damages their family and social relationships. A third say it harms their work life.
“There is fear of not having saved enough for retirement and worrying about how it is going to work out,” says Richard Dinham, head of client solutions and retirement at Fidelity.
この記事は Money Magazine Australia の July 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Money Magazine Australia の July 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
