Snippets fromAustralia and savings approach/issues by younger cohorts.

Australian  Super a complicated maze, with an associated  ton of paperwork and often consultancy/advisor costs following  . The Aussie model is not one  to follow, a number of Australian commentators suggesting the NZ model is the  smart country,   Unfortuately  even NZ Retirement income commentators over look  the quality of our scheme, so expecting Aussies to have the ability to change direction would be to much  from our Aussie friends!

Lot of talk re longevity insurance, often known as annuity or life time income product.

How much does an Aussie need for retirement. Commentary around about A$77,000-$85,000 per annum. (Remember in NZ , NZ Super provides a platform cost, which you deduct of  figures like the above, to work out yearly income retirement needs ). Rule of thumb add $20,000 per annum to your NZ Super and this will provide an adequate retirement income life style

Research from Lancet medical journal study, stating almost 60% of all adults in the world  and 1/3 children will be obese by 2050. Described as onof the worlds great healthh challenges, the report makes sombre reading!

An article re those in NZ  beginning the savings pathway!!!

https://www.stuff.co.nz/business/360575747/housing-and-kiwisaver-drawdowns-likely-bite-future-superannuitants

 

This article was written by Alec Waugh

BA (history) Master Public Policy MPP. Career primarily Police 1968-2006. CEO Business Information Services (BIZinfo) Liberal commentator, voted NZ First/Labour last 3 elections. European. Interested in delivery issues and implementation, trends over time. Well read

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