- August 15, 2018
- Posted by: Rogers Property Group
- Categories: Australian Property Market, International Property Market, Latest News, Property Investment, Queensland Property News
A recent “Financial Comfort Report” by ME bank has identified a high level of discomfort (stress) for those over the age of 50. While many of these people are yet to retire, the report highlighted that those yet to retire had a high level of stress regarding their life after they leave the workforce. At that age most came to the realisation that they did not have enough assets to support themselves through retirement which would severely impact their lifestyle, comfort and levels of stress. Many barely get by let alone live comfortably.
The report also showed that households were concerned about their ability to raise money if they were to have an emergency. The percentage of people stressed about this was at the highest since the report began.
What we can learn from these findings is that all of these problems can be fixed by some forward planning, investing and discipline. Most people, incorrectly, do not see the need to invest until it is too late to do so. I see people like this all the time. Overspending, not investing and not planning. This is a slippery slope to serious financial hardship in retirement.