Self funded retirees

How can we improve the prognosis for our maturing Australians? Suggestions, ideas, proposals for better social and health issues, including retirement accommodation, etc.

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kfchugo
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Location: Warwick, QLD

Self funded retirees

Post by kfchugo »

I enjoy a part pension with monies invested in managed funds. Lately, my investments have taken a hit and are in negative growth. I make monthly drawings to subsidise the pension and so have a reasonably comfortable life. I do pity those self funded retirees that dont qualify for social security and must sit and watch their savings dwindle or even minimise their income, courtesy of Trump and his nightmare approach to international diplomacy and trade. :teary

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Buck_naked
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Re: Self funded retirees

Post by Buck_naked »

i've gone the opposite way, i'm up $40,000 since scomo was elected.

was able to afford a road trip out to Thallon Qld to do a night shoot

Image

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Slapsy
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Re: Self funded retirees

Post by Slapsy »

I understand your situation Hugo,I am in a similar position. Low interest rates are not only a danger for the country's economy,but mine is also under threat. However,I have no sympathy for the many so-called self funded retirees relying on the continued payment of franking credits to survive. If they really are self-funded,then shouldn't we be calling those on newstart self-funded job-seekers.

ps .... Good for you Buck,but don't spend it all at once.
The punters know that the horse called Morality rarely gets past the post,whereas the nag called Self-interest always runs a good race. ..... Gough Whitlam 19/10/89

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Perrorist
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Re: Self funded retirees

Post by Perrorist »

I live off capital and the income from the bits of work I do. I have no investments. The fall in interest rates means my capital will decline even more rapidly than it already has. However, I may sell the house before it completely runs out and find somewhere more modest, so I can live off the difference (unless the housing market goes completely down the gurgler, of course, in which case I'll be stuffed).
Time is running out...

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kfchugo
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Location: Warwick, QLD

Re: Self funded retirees

Post by kfchugo »

Unfortunately, there are gurgling noises in the housing market already with not much sign of a turnaround any time soon. The pension, Newstart and other government benefits all desperately need an overhaul and increase in payments. I am not complaining personally and am well aware that I am better off than many others.
I remember a time when supermarkets were cautious about selling canned dog food to pensioners as they were eating it themselves. I also recall an old aunt who spent her winter evenings sitting in front of her electric heater watching her B&W TV. She was always wrapped in a blanket as she would not turn on the heater - couldnt afford the electricity. I would hate to see Australian pensioners return to those dark days, but future prospects dont look good.

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Dreamweaver
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Re: Self funded retirees

Post by Dreamweaver »

Nice night shoot, Buck.
I dream, therefore I am.

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Buck_naked
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Re: Self funded retirees

Post by Buck_naked »

the business has some distinguished experts to inspect the tea leaves tonight (friday 9:45-10:00pm news 24)
the end of the world or the circle of life?

I have seen the parliamentary budget office documents on franking credits .
it shows the franking credits have turned into a massive rort used by self managed super funds.

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