More than one fifth of Australian retirees currently live in poverty, according to a recent report by The Australia Institute.
Given that we are one of the richest nations in the world this is both disturbing and difficult to believe. Today we review these findings and consider if there is cause for concern and, if so, what retirees can do.
The ‘bucketing’ method of money management has been around for decades. But it shot to prominence when self-proclaimed ‘barefoot millionaire’ Scott Pape wrote about how easy it was, by using buckets, to get on top of your spending. But ‘financial bucketing’ is far...
It’s generally agreed that retirement is not a ‘set and forget’ proposition. On the one hand this can sound as though we need to continually monitor our situation. But the flipside of this is that it is literally never too late to change our settings and improve our situation. What do I mean by this? Simply that there are different trigger points and decision times across a full retirement journey. Knowing how these work is therefore key to making the most of your savings.
Today we look at three different retirement ‘ages and stages’ through the goals of a typical couple and consider some of the ways they might use a trigger point to rethink and reshape their retirement. These stages are:
Age 65,
Age 67 and
Age 75.