FINANCE WORDS BY DANIEL MCGREGOR
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Will Your Retirement be Spent on the Dole? If you ever read through the comments sections of online news articles about government debt and deficit, you’ll find countless numbers of people complaining about how government debt is going to rob our children of a good life in the future and that a simple solution is to stop handing out the dole to those bludgers who are too ‘lazy’ to work.
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MARCH 16–22, 2017
ang on… these are likely the same people who will be happy to become ‘dole bludgers’ when they’re older. A dole bludger is a person who is unemployed and reliant on government welfare to make ends meet. I’ve just described most Australian retirees! Somehow, I don’t think they would see it that way, nor do I… but how will you feel when you get to 67 if you can’t afford to pay the bills without going on the dole (i.e. the age pension)? Have you ever met a dole bludger under the age of 67? I don’t know of many. Most people want to work, yet it’s not that easy to snap your fingers and get a job. This becomes more evident to many Australians as they get older and find that employers are reluctant to employ older Australians. I was only reading something the other day suggesting people don’t need all that much for retirement as they can get the age pension and keep working for 2 days a week to help meet their cashflow needs. How does a 75 year old, for example, find a 2-day a week job in the first place, let alone one they can still physically do. It’s possible, but not straight forward. It would be a better plan to put a little away from each pay cheque while you’re working and then choose to retire on your terms. It’s time we recognise the simple facts that we are living longer and longer and that it’s not the government’s job to pay for any of us to be retired. In a first world country like Australia we will continue to pay an age pension to ensure people can survive, but if
you’re like most people, I don’t believe you want to wake up at retirement and discover you’ve worked your entire adult life to then spend the next 30-40 years just ‘surviving’. Make your financial future something that you’re in control of. It’s just so much easier than people think, but until someone shows you how easy it is then it may appear daunting. Don’t pay a fortune for financial advice, instead pay for financial education and get the nuts and bolt formula you can then go and do yourself. Take matters into your own hands and reap the rewards. Live long and prosper, rather than living long a pauper. The ball’s in your court. Cheers,
Daniel
**Daniel McGregor is a founding partner of Wealth Train, an Australian Financial Services Licence Holder (474966). Any advice given is general in nature and readers should seek their own professional advice before making any financial decisions. He can be contacted on 0411 484 464.