1 in 5 Australians at age 70
G’Day
Have you noticed the new Westpac advertisements/
That by the age of 70, only 1 in 5 Australians will have any superannuation left?
http://www.theaustralian.com.au/media/westpac-campaign-targets-women/story-e6frg996-1226163181944
The Westpac campaign is particularly targeted towards Women.
Women can now expect to live to be 84 years old.
If you are working up until the age of 65, earning, say, $45,000 gross per annum, that is a take home pay of about $38,000 / $730 per week.
Women generally have fragmented working lives, so let us assume that you retire with a superannuation nest egg of $114,000, equivalent to 3 years full time take home pay.
Actually, it is a wealthy woman who retires with such a bountiful balance in her superannuation fund. The average woman retires with less than $50,000 in super.
The Westpac ads are wonderful. No, not all those anaemic Westpac Managers, but the ever so slightly confronting content of the ads.
It is now 22 years since the compulsory Employer Contribution Superannuation came into being.
Are we really any better off? People have actually saved less since compulsory super because most people ‘assume’ that because they ‘have super’ that it is somehow a source of never ending money.
We all need reminding that once we turn the tables and live off the superannuation, it will very quickly run out.
Substitute 'superannuation' with 'investment' and the same could be said of just about everybody.
Kristine
G’Day
Have you noticed the new Westpac advertisements/
That by the age of 70, only 1 in 5 Australians will have any superannuation left?
http://www.theaustralian.com.au/media/westpac-campaign-targets-women/story-e6frg996-1226163181944
The Westpac campaign is particularly targeted towards Women.
Women can now expect to live to be 84 years old.
If you are working up until the age of 65, earning, say, $45,000 gross per annum, that is a take home pay of about $38,000 / $730 per week.
Women generally have fragmented working lives, so let us assume that you retire with a superannuation nest egg of $114,000, equivalent to 3 years full time take home pay.
Actually, it is a wealthy woman who retires with such a bountiful balance in her superannuation fund. The average woman retires with less than $50,000 in super.
The Westpac ads are wonderful. No, not all those anaemic Westpac Managers, but the ever so slightly confronting content of the ads.
It is now 22 years since the compulsory Employer Contribution Superannuation came into being.
Are we really any better off? People have actually saved less since compulsory super because most people ‘assume’ that because they ‘have super’ that it is somehow a source of never ending money.
We all need reminding that once we turn the tables and live off the superannuation, it will very quickly run out.
Substitute 'superannuation' with 'investment' and the same could be said of just about everybody.
Kristine