Don’t Become A Statistic: One In Four Pensioners Living In Poverty
A study by the OECD (Organisation for Economic Co-operation and Development) has found that one in four Australian pensioners are living in poverty. Australian Seniors or retirees over the age of 65 were the forth most likely to be living in poverty, behind such struggling countries as Ireland, Korea and Mexico. That means one out of every four pensioners you meet are not able to meet their every day living expenses like feeding themselves or paying their bills.
And all this from a country that supposedly sailed through the global debt crisis: Australia. Many Australian retirees do not have enough money saved to retire in any sort of comfort, considering that studies have shown you will NEED a million dollars in cash and your own home in order to retire on an income just above the minimum wage.
You CANNOT Rely On The Government To Fund Your Retirement
The report by the OECD also revealed that public pension spending is only 3.5 per cent of national income in Australia, compared with an average of over 7 per cent of GDP in other developed countries. This means that if you are an Australian wanting to retire, you absolutely CANNOT rely on the Government to keep you afloat in retirement.
We’re talking about people buying dog-food because they cannot afford to eat.  People who simply cannot afford to go out, because they can’t afford the bus fare, let alone petrol or registration for a car. And all because they worked hard every day for 45 years. Hardly seems fair, does it?
Well it’s not fair. Life doesn’t always have a set of exact rules that allow you to win. The only real way is to make your own rules and follow a path where you have a higher certainty of success.
A Simple Lack Of Knowledge Cost Many Workers Their Retirement
During 2008, the credit crisis and resultant Bear Market wiped more than 50% off the Australian stock market. Considering that a loss of 50% in an individual portfolio would mean you would have to make a 100% return just to break even again, this left many investors poor, afraid, and unsure of what to do next.
It set many regular people back up to 20 years. Meaning of course they would have to work an additional 20 years just to be able to retire, when previously they had it all in the bag, ready to go and live the life they had always dreamed of.
After the Credit Crisis, many investors and potential retirees believed that the stock market was no longer a safe place to be. Of course, there is always risk present in the stock market, and it is simply because most regular people have never learned how to manage their risk in the stock market that so many millions were lost.
What Is The Life Skill You Must Have, But They Don’t Teach It At School?
They don’t teach you how to identify stock market trends at school. They don’t teach you how to make money in the stock market.  They don’t teach you how to manage your stock market risk: to keep it at a relatively safe level so that you can still make money, but also so you can still sleep at night.
Simply being able to identify stock market trends would have allowed you to see the changing tide, see the looming crisis, and leave the market before the largest carnage occurred. Simply leaving the stock market half way through the credit crisis would have saved up to 150 million of Australian investors money. But to do this, you must be able to identify the stock market trend.
Here at ASX Market Watch, we have many methods for identifying stock market trends. Tools that can help you see the trends as they happen so you don’t have to be caught in the middle of another credit crisis. And the best news is they are all 100% satisfaction guaranteed for 100 days. Click here now to check them out!
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December 11, 2011
Tags: how to retire early, pensioners, poverty, retirees, share market aware Posted in: Articles On Building Wealth, Share Market Aware
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