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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Retirement

Half of 50 to 59-year-olds financially insecure

By Grace Ormsby

July 24 2019
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Retirement

Half of 50 to 59-year-olds financially insecure

By Grace Ormsby
July 24 2019

Australians born in the 1960s are the least financially secure decade-based age group in Australia, according to a new study.

Half of 50 to 59-year-olds financially insecure

By Grace Ormsby

July 24 2019
Share

Australians born in the 1960s are the least financially secure decade-based age group in Australia, according to a new study.

The research, from financial services company Spaceship, found that one in two Australians born in the 1960s do not feel financially secure.

Worryingly, nearly 15 per cent (14.6 per cent) of all respondents aged between 50 and 59 noted that they currently feel “very insecure” about their personal finances.

A further 35 per cent (34.4 per cent) reported feeling “insecure” about their financial state.

The 1960s age group also reported the lowest “very secure” financial rating out of all decade groups surveyed, with just 3.8 per cent feeling this way.

Across all four security options, and all six age groups surveyed, the 50-59 age category exhibited the lowest levels of personal financial security.

This contrasts with 7.3 per cent of those born in the 1990s feeling “very secure”, with the figure jumping to 12.4 per cent for persons born in the 1980s.

The amount of “very secure” respondents alive since the 1970s was still almost double that of the 50 to 59 age bracket, at 6.3 per cent.

The decade-long downwards trend exhibited across the 50 to 59 age group then travels back up towards greater feelings of financial security for those born in the 1950s and the 1940s.

More than 9 per cent (9.3 per cent) of those aged 60 to 69 said they were also “very secure”, followed closely by those in the 70 to 79-year-old bracket, where 9 per cent felt the same way.

The report also gave insight into the saving habits of Australians, highlighting a shift towards a saving mindset in younger Australians and higher feelings of financial security, which Spaceship said was potentially attributable to financial pressures that are introduced in later life.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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