Post by Banker on Dec 18, 2011 16:30:03 GMT 7
A study by the OECD (Organisation for Economic Co-operation and Development) has found that one in four Australian pensioners are living in poverty. Australian Seniors or retirees over the age of 65 were the forth most likely to be living in poverty, behind such struggling countries as Ireland, Korea and Mexico. That means one out of every four pensioners you meet are not able to meet their every day living expenses like feeding themselves or paying their bills.
And all this from a country that supposedly sailed through the global debt crisis: Australia. Many Australian retirees do not have enough money saved to retire in any sort of comfort, considering that studies have shown you will NEED a million dollars in cash and your own home in order to retire on an income just above the minimum wage.
Please read on:
www.asxmarketwatch.com/2011/12/dont-become-a-statistic-1-in-4-retirees-living-in-poverty/
And all this from a country that supposedly sailed through the global debt crisis: Australia. Many Australian retirees do not have enough money saved to retire in any sort of comfort, considering that studies have shown you will NEED a million dollars in cash and your own home in order to retire on an income just above the minimum wage.
Please read on:
www.asxmarketwatch.com/2011/12/dont-become-a-statistic-1-in-4-retirees-living-in-poverty/