Are you expecting to rely on the pension when you stop working?
Well I have some bad news for you!
According to the OECD’s “Pension at a Glance 2015” report, you probably in for a shock when you stop working.
The OECD’s “Pension at a Glance 2015” report found that over 33% of Australians aged 65 and older, are living in poverty. The OECD’s measure of poverty is incomes less than 50% of median household disposable income.
This compares with 14% of the total Australian population living in poverty. This means if you are 65 or older, you are nearly 2 and a half times more likely to be living in poverty than the rest of Australia.
What is worse that Australian’s percentage of over 33% is the second highest in the 34 countries included in the report. Only Korea has a higher percentage and there are only four other countries with a percentage higher than 20% (see below table).
This report backs up my view that most Australians work hard all their life, just to retire poor. Heading straight for what I call the Poverty Trap.
Get your FREE copy of my new book Avoid the Poverty Trap
If you help cover some of the postage and handling, I will mail directly to your Australian letterbox, a FREE physical copy of my brand new book.
You will also get FREE silver membership to The Wealth Navigator Club.
If you don’t live in Australia, you can buy the kindle version of my book on Amazon.
If you send me a copy of your Amazon receipt, you can get FREE silver membership to The Wealth Navigator Club.
Do you and your family a favour and start taking steps so you can avoid the poverty trap.
Wayne Wanders
The Wealth Navigator
wayne@avoidthepovertytrap.com.au
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