Australia’s superannuation system is one of the largest in the world, with approximately $2 trillion in assets. However, research shows that a majority of Australians are still significantly unprepared for retirement.
Although the average Australian expects to spend approximately 23 years in retirement, their money will run out after only 10 years, leaving them to live off a meagre pension for the rest of their years.
So, why are Australians so unprepared for retirement?
Zaki Ameer, Property Investment Expert and Founder of Dream Design Property (DDP) says, “Unfortunately many people believe that their standard superannuation contributions will be enough to live off when they reach retirement age. Sadly however, this isn’t the case at all. In today’s market investing is almost essential to ensure a person is financially supported throughout their retirement. Without investment assets, the average couple’s super balance at retirement is over $200,000 short of what they need to live on comfortably.”
The good news though?
Zaki adds, “Although investing and making regular contributions to one’s superannuation fund is recommended from as early as possible, ideally during one’s 20’s, if this hasn’t occurred it is still possible to catch-up. No matter how unprepared a person has been during their younger years, financially preparing for retirement is achievable at any age, even as late as 50s.”
To help ensure you are prepared for retirement, no matter what age you are, Zaki shares his expert advice:
Zaki also adds that although many people are intimidated by the thought of preparing for retirement, it’s important to ensure quality of life in one’s later years. Following these steps, or enlisting the help of experts when in doubt, will make preparation for comfortable retirement as simple as possible.
Dream Design Property (DDP) is a unique wealth creation mentoring program that is designed to help Australians gain financial freedom, offering each client an ongoing personalised service catering to their changing circumstances and needs. DDP has helped purchase over 1,000 properties for its clients
For more information please visit www.ddpproperty.com.au
For all media enquiries, images or interviews with Zaki Ameer please contact Nicole Robertson at
Agent99 PR on 02 9779 0999 or [email protected]