And in today's newspapers, 'Your retirement savings are there to be spent. Don’t be afraid to'. This article is for those who struggle to stop squirrelling and start spending.
“They” tell us to spend more without knowing any facts of the legitimate fears that retirees have regarding if they ever have to go into aged care.
The price of a room is exorbitant with up to $850k for a mediocre establishment.
If you don’t have this kind of money you are moving out to whoop whoop, away from your family and friends just to afford aged care.
New legislation being introduced will ensure you spend more…just getting help around the house will soon gobble up any superannuation you have accumulated.
I like both proposals and will seriously consider leaving a legacy for our four grandchildren under 10. The idea is not new to us, just the investment vehicles. We are not ‘loaded’, just comfortably off after years of being ‘astutely frugal’. This makes us happy, and we have a very enjoyable, fulfilling life. We may or may not live long enough to see our grandchildren mature into young adults. I hope so, but there are no guarantees in this life. However, we’d like to have the ‘assurance’ that our grandies will either be free of a HECS debt when they leave Uni (hoping that they all go on to higher education) OR can put a deposit down on an apartment before they are 30. Our adult children have all done pretty well, and at age 40, they don’t really need the proceeds of our super balance or present home. Skipping a generation sounds like a good plan.
“They” tell us to spend more without knowing any facts of the legitimate fears that retirees have regarding if they ever have to go into aged care.
The price of a room is exorbitant with up to $850k for a mediocre establishment.
If you don’t have this kind of money you are moving out to whoop whoop, away from your family and friends just to afford aged care.
New legislation being introduced will ensure you spend more…just getting help around the house will soon gobble up any superannuation you have accumulated.
Well that’s all fine in theory
I wonder what percentage of retirees are actually in a suitable financial position to give money to their children
If is difficult to know how much money and financial resources you will need in retirement dependent on longevity and health and care
I am sure it is not going to get cheaper !!
I like both proposals and will seriously consider leaving a legacy for our four grandchildren under 10. The idea is not new to us, just the investment vehicles. We are not ‘loaded’, just comfortably off after years of being ‘astutely frugal’. This makes us happy, and we have a very enjoyable, fulfilling life. We may or may not live long enough to see our grandchildren mature into young adults. I hope so, but there are no guarantees in this life. However, we’d like to have the ‘assurance’ that our grandies will either be free of a HECS debt when they leave Uni (hoping that they all go on to higher education) OR can put a deposit down on an apartment before they are 30. Our adult children have all done pretty well, and at age 40, they don’t really need the proceeds of our super balance or present home. Skipping a generation sounds like a good plan.