Having consistently been at the top of the list for financial security, the tide could be turning for Australian retirees.
The average Australian household recorded a satisfaction rate of 5.5 out of 10 in the last ME Bank survey. This is a rise of 0.21 on the previous year and suggests that more Australians are now comfortable with their finances.
The only group that didn’t rise in the survey this year were retirees as they dropped from their top spot of satisfaction. Retirees who are supported by government payments dropped by the most significant amount.
In general, retirees reported that they are now more worried about their investments, their income and their living conditions.
Since 2011, when the survey by ME Bank began, this is the first occasion on which retirees have not topped the list for satisfaction.
The results suggest that the current low interest rates have been beneficial for those with debts to pay off and that this has increased their financial contentedness.
Source: http://www.theaustralian.com.au/business/breaking-news/retirees-more-worried-about-finances/story-e6frg90f-1226691129473
