A look at lifestyle, financial security and retirement in Australia - Part 2
Written and accurate as at: Jun 23, 2016 Current Stats & Facts
Maintaining our lifestyle and financial security are our top priorities
Close to three in five (56%) were concerned about being able to maintain their lifestyle in 10 years’ time, while almost 1 in 5 (17%) indicated that they will be relying on family inheritance to pay off their mortgage or ensure their financial security. This sense of insecurity led many to believe that they would not be able to fund their own retirement, with two in five (43%) agreeing that they would be relying on the Australian government.
We’re not sure if the next generation will enjoy the same lifestyle as us As the cost of living and the mortgage rule the financial lives of most Australians, many worry that today’s young people will struggle to build the same kind of life their parent’s generation has enjoyed—one third (33%) of all parents in the survey believed their children won`t be able to live the same lifestyle as them.
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