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Do not trust in 'good luck' when it comes to your finances and certainly your financial future.
People make their own luck by great preparation and good strategy.
Understanding the contributing parts that are going to impact (negatively) on your retirement enables you to prepare and develop a strategy, based on realistic expectations — whether it’s to work longer, save more, or invest more wisely and proactively.
Then, when you dodge the ‘reduce age pension’ bullet that’ll hit so many of your peers, and they say that ‘you were lucky’. You'll know, LUCK had nothing to do with it. Forewarned is forearmed.
We have reached a point where society’s concept of retirement is changing. Government led, the the pendulum swung too far. Current generations in the work force will see a return to people staying in the workforce much longer (probably, well into their 70s).
It's straight forwrad to explain why this is the inevitable outcome without significant tax changes and interventions.
To fund government pension through tax collection it is essential that the volume of people making up the tax collection base is far far greater than the volume of the pension collection base. With the baby boomers transitioning to retirement, reserves to fund the retirees will become depleted.
It becomes essential that individuals plan and act on plans to self-fund their retirement. As a long term hold, passive investment strategy, property provides a very strong option.
Call 1300 67 27 28 to talk to one of our property consultants or panel of finance consultants.