"Take a retiree with the maximum $1.6 million. On a yield of 5 per cent, that should deliver an annual income of $80,000. The tax bill? Zip.
Compare that to a 35 year old earning $80,000. Tax bill? $19,000. It's a fair bet he or she is struggling to make ends meet, particularly if they live in Sydney or Melbourne, in which case they are paying a fortune in rent or have a whopping great mortgage."
the idea is to work first and
then The idea is to retire
I wonder how much it would cost to give all a full pension and do not have super mmm
Compulsory super has only been around since the 1990' so there is a whole segment that will retire with very little.
