Women are very concerned about their finances in Retirement
Based on the M.L.C. Quarterly Australian Wealth Sentiment Survey women are very concerned with regard to having enough money in their retirement.
Men on the other hand are less worried about having inadequate funds in retirement but are more concerned about missing out on investment opportunities.
Both genders appear equally concerned about savings being eroded by inflation, higher fees detracting from the overall returns and losing money on their superannuation investments.
Interestingly, defacto couples are more concerned about their financial security in retirement than single or married respondents.
With regard to the respondents financial investment strategy, over the next three months there is an overwhelming emphasis on reducing debt.
Of these not considering paying off debt, the next most popular investment option is to increase their cash and term deposits, increase their superannuation and purchase an investment property. Bonds, fixed interest, balanced funds and direct shares were the least favoured with applicants considering exiting these investment options to free up funds to reduce their debt.
Quinn Financial Planning has the expertise to help you build your wealth. Should you have any concerns about planning for your retirement please contact Peter Quinn by submitting an
online enquiry or calling us on 9580 9166 to book an obligation free appointment.
The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.