With increased longevity, an active lifestyle, and a ‘new’ view on retirement, many mature people look to engage in different ventures, nevertheless, starting a business can be challenging.
Superannuation pensions are now a thing of the past, but some retirees still receive them. It used to be that public sector employers and large businesses provided superannuation pensions to staff who stayed until retirement.
The fear of outliving your retirement savings is a real one says financial planner Anne Graham. And it’s a fear that’s shared even by those who have more money than they’ll ever need.
Serious intent is important when you think about retirement finances, but it also takes serious action to get things done. Here are five questions that could help you get into action mode.
How much money should we have? How long will we live? How much can we spend? The questions about retirement income just keep on coming. And because no one has a crystal ball, some questions have no definitive answers.
How quickly you spend your retirement savings may be related to your personality. And your personality may impact more than if you have debt or a plan to leave an inheritance. That’s the finding of recent research by the American Psychological Association.
Low interest rates can have a real impact on those who are planning their retirement and those in retirement. Financial planner Anne Graham talks about the issues it can raise and suggests how to handle what can be a difficult time for investing.
A study conducted by the University of Michigan surveyed about 20,000 individuals in the US aged 55 years and older. It asked questions about life satisfaction. ‘One of the first questions we asked was . . . whether money makes people happier in retirement,’ reports researcher Michael Finke. ‘The answer was yes—in fact, quite a bit happier.’
The good folk at YourLifeChoices have looked at retirement affordability again, but have also, in their latest quarterly Retirement Affordability IndexTM, provided some expert advice about what the Australian government needs to consider in its retirement income review.
Many senior Australians want to continue working beyond their Age Pension age. Being active in the paid workforce beyond this point can be good for both your financial position and your mental health.