Australian (ASX) Stock Market Forum

Baby Boomers Are Retiring

i can give you a booster course in cynical if you like ( free , as payment messes with my pension payments )
My best mate retired a year ago, we did our apprenticeships together, lovely guy looked after his mum and his aunt with dementia while working full time and they lived into their 90's.
Anyway he was fortunate that the aunty left a small amount so he could purchase a very small unit.
Now he is on a pension and has a small amount in super, he can't believe the reporting crap he has to go through.
I'm just happy I did the hard yards early and don't have to get involved with Centrelink YET.
Hopefully I pass away before the need arises. :roflmao:
If the Government was concerned about those most needy, they would crash the housing market and leave those geared to the eyeballs left with their pants down.
At least Keating had the balls to do it, if they don't the pain will be worse as a more draconian measure will have to be taken later, let's wait and watch. :cool:
 
My best mate retired a year ago, we did our apprenticeships together, lovely guy looked after his mum and his aunt with dementia while working full time and they lived into their 90's.
Anyway he was fortunate that the aunty left a small amount so he could purchase a very small unit.
Now he is on a pension and has a small amount in super, he can't believe the reporting crap he has to go through.
I'm just happy I did the hard yards early and don't have to get involved with Centrelink YET.
Hopefully I pass away before the need arises. :roflmao:
If the Government was concerned about those most needy, they would crash the housing market and leave those geared to the eyeballs left with their pants down.
At least Keating had the balls to do it, if they don't the pain will be worse as a more draconian measure will have to be taken later, let's wait and watch. :cool:
although i am on a disability pension now , by the old agreements i should have been on the aged pension a few years back , however when i first started this investing adventure , may as well call it 2011 , i realized that the aged pension would disappear in time or become nearly worthless ( not enough productivity from the taxpayers to cover ongoing government expenditure ) , so while i hope i am wrong , i see super as an excuse to replace the aged pension

go back in time and listen to Malcolm X rant on Republicans and Democrats substitute the LNP and ALP for the two US parties and when you hear Negro substitute poor and you have Australian politics

BTW i wonder how many property investors 'geared to the eyeballs' ' are politicians ( or close relative to a politician ) ... just asking , because they all SAY they hate negative gearing .. but ...
 
there are several inevitabilities; one is getting older, another is that nothing remains the same. And, individually, we will make our own decisions but, collectively, these form trends.

Boomers are retiring and facing decisions about lifestyles, and how to fund the coming years.

Superannuation is throwing up some challenges:

Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as the wave of baby boomers reaching retirement age starts to hit the $3.6 trillion sector.

Mercer, Colonial First State, AMP, BT and Insignia’s cash flows shrunk by a combined $10.6 billion in 2022-23, a report by KPMG found.

At the same time, money flowing into industry super giants such as AustralianSuper, the Australian Retirement Trust and Hostplus has soared. This has been enabled by superannuation guarantee money flows, strong investment returns and customer retention, with the younger profile of members helping the investment pool, Assets Under Management, grow.
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There will be an expectation from members that their funds will be more like a payment platform.

About half of retirees are only withdrawing the legislated minimum required amounts from their super accounts while half are taking out larger amounts or lump sums, according to Chant West.
 
The Ponzi style of the system is starting to manifest IMO, it is ok saying to members that their money is earning 12%, but is it? That is the question.
I think Buffet said, you only know who is swimming naked, when the tide goes out, the same applies to super funds in a way.
While the inflows + earnings exceed the outflows, there isn't a problem telling everyone they are earning 12%, while the stock market is earning 5%.
It is only when the outflows exceed the inflows plus earnings, that an issue arises. then they have to stem the outflows. :rolleyes:
It is great that the results are being published, it must be a massive job auditing a huge super fund IMO.
 
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