is this no country for old women or men?, page-13

Certainly governments of both sides of politics have created a sense of entitlement with voters. The goose that layed the golden egg is not going to be around forever.

Whatever your idealogy is, the age pension is $712 for fortnight for a single person and $1073.40 per couple for a fortnight. And as I saw with my parents this is not enough to live on. Plus, if you are born after 1/1/1957, the earliest you can get the age pension is 67y.o.

So the main point is that you have to financially prepare for you retirement if you want a good lifestyle. You have to take personal responsibility and not be apathetic like a twig floating in a stream.

That being the case, pay of your home, work out how much you need to live on and invest accordingly.

At 55y.o. the transition to retirement rules are generous as are the retirement rules at 60y.o.