An overwhelming number of people will find that they do not have sufficient savings when the time comes to retire.
This figure is even worse for women. They generally have less money when they reach retirement because they:
- still consistently earn less than men for the same job
- are more likely to be employed in lower paying menial positions
- are usually the primary child care givers and take more time off work thus losing pay and payments into superannuation or pension schemes
- are generally worse off after a divorce, particularly if they have children to take care of.
- live longer than men, thus requiring more retirement funds, but generally have less.
If you would like some help in calculating how much you think you might need or want for retirement please get in touch for an initial consultation.
Mobile – +61 419 726 161
Email – kathy@financiallywise.com.au