Let’s face it, we will all retire someday and like death and taxes, it is something you really can’t ignore. That said, if you prepare for retirement, you can control when you retire and how much you retire with.
What is concerning is that according to the Association of Superannuation Funds Australia (ASFA), women retire on average with a balance of $122,848 in super, while men retire with $154,453.
In the Consumer Sentiment Tracker report to March 2021, Finder.com.au shows that there are 24.4 million superannuation accounts in Australia, although only 3 in 4 Australian’s have superannuation, which is less than the number of mobile phone plans Australians hold.
As Finder rightly states, superannuation is crucial to financing your retirement to ensure you can live comfortably, but as they indicate 38 per cent of Australians don’t understand how superannuation works, which is alarming given how important it is for our future lifestyle. Read more…..
Chart of the Day
Feb.22 — Bill Gates, co-chair of the Bill & Melinda Gates Foundation and co-founder of Microsoft, discusses the importance of addressing climate change, the recent extreme-weather event in Texas, and his collaboration with Amazon.com Inc. Chief Executive Officer Jeff Bezos. He speaks with Bloomberg’s Emily Chang on “Bloomberg Technology.”