When do you want to retire? Australians propose age 75

It was reported in The Australian last week that Seniors want to raise the age of retirement to 75
http://www.theaustralian.news.com.au/story/0,25197,24253126-5013871,00.html

For an aging population, there were some comments that must be noted:

  1. By 2030, more than half the population of Australia will be over 50 years old
  2. “the issue of aging ..is a greater crisis than climate change”
  3. Australia is wasting the talents of millions of older people
  4. “we cannot economically sustain a retirement age of 65”

This is an important issue for all developed countries where women are having fewer children later, if at all. The boomers are also wanting to continue their lifestyles without being pensioned off to watch TV all day, and want to continue to work and add value to companies and meaning to their lives. A discussion of age policy is also critical because governments just can’t afford to pay the age pension when the working population will be so few compared to the retired within this generation.

So how does it affect your working life – which is what this blog is all about?

These decisions on policy will affect everyone, and it will not just be Australia. With the economic crises in the US and UK, similar discussions will be had.
A friend commented the other day how fast her life was flying by. Suddenly it is September 2008 – where has the year gone?
When will you be 75? The years will fly by, and you don’t want to be on the non-existent government pension then. So start now by reviewing your financial situation, and looking forward – even just a few years.

Chapter 8 from the free workbook also contains questions and diagrams to help with your financial situation, http://joannapenn.com/free-e-workbook-plus-chapter-1-of-the-book/
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