PODAST: Can Baby Boomers Redefine Retirement?
Baby Boomers redefined so many aspects of life as we know it during the 60s and 70s, but can they redefine retirement?
In the second edition of the FiftyUp Club’s new podcast series, Christopher Zinn speaks to Association of Superannuation Funds of Australia CEO Martin Fahy.
Fahy gives informative answers, with some strongly opposing the views of Grattan Institute CEO John Daley in part one of the series.
Fahy’s views include:
On baby boomers redefining retirement: “Here’s my challenge to your listeners, as Baby Boomers growing up in the 60s and 70s, they redefined the protest movement, they redefined intimacy, music etc. There’s an opportunity for Baby Boomers to redefine retirement.”
On if it’s too late for over 50s to change the way they think about super: “It’s never too late. It’s good to be prudent about retirement, but I think we can be generally positive.”
On urban myths about superannuation: “People behave in a very sane, rational way. Even people with very low balances. Yes, some of it’s used to pay off debt. That’s a sensible strategy. Most of it’s put aside, and people draw down on it very carefully.”
On the Grattan Institute’s view on diverting tax concessions to paying the age pension: “I don’t think Australians have a culture of relying on handouts from the government. I think we have a great age pension, it is generous, but everybody recognises that we need to keep it for those who need it most.”
Listen to the whole podcast and share your own thoughts in the comments below.
Any advice contained in this article is general in nature and does not take account of your particular objectives, personal circumstances or needs. If in doubt about your own situation you should seek appropriate advice.
