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use 16 to calculate how much is enough for retirement, page-123

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Old Engineer

5,009 Posts.

255

01/05/18

10:40

Post #: 32793031
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Originally posted by lu888 ↑

30 years ago my wife done uni degree for free, state schools were for free.
My son Uni degree he still paying HEX $ 50,000. State schools cost average $ 1,000, but we all contributing to overseas holidays or new SUV of 50% of new retirees, who after the purchase go straight to age pension.
It is not 25 years , even after 50 years 40% of people shouldn't be in the super and probably got direct age pension without the burden of trustees and advisers. Just simple pay tax as they go.
1997:
80 per cent on the Age Pension or equivalent, 67 per cent of those on the full Age Pension
2017:
70 per cent on the Age Pension, 60 per cent of those on the full Age Pension
2055:
60 per cent on the Age Pension, only 40 per cent of those on the full Age Pension
Source:
https://www.superannuation.asn.au/ArticleDocuments/359/1711_Mythbusters.pdf.aspx?Embed=Y

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The pension card and allowances are one thing most retirees don't want to lose. This part of the ASFA report is very believable:
"Over the next 40 years, this proportion will flip to 60 per cent part Age Pension and 40 per cent full Age Pension. "
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0 Great analysis

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