The Credit Crisis and Retirement
June 24, 2009 by admin
Baby Boomers nearing retirement are thinking less about living the good life and more about whether they will have the resources needed to meet their basic needs, according to a survey. In a global retirement survey from Hartford Financial Services Group Inc., nearly 50% of U.S. respondents age 45 and older indicated that keeping up with daily expenses for food, shelter and other basic needs was their most important financial retirement worry.”
Source: Wall Street Journal
Editorial Notes: Retirees in Australia are feeling the same fears as their counterparts in the United States. The full effects of the credit crunch on superannuation will not be seen for years to come. On top of this is the fall in property prices, rising costs of living and the steep drop in the stock market. What are your concerns for the future and retirement? Do you think you will have enough money to retire with? What are some of the financial losses Australians have felt over the past few months? We would like to hear your comments about how the credit crisis has effected your savings and plans on retirement.
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