Over half of older Australians are worried they will outlive their savings, and two-thirds of retirees who have been retired five years expect to spend their savings over the next 20 years, according to the National Seniors Australia (NSA).
The NSA’s latest research, in partnership with Challenger, found of those worried of outliving their savings, women (59%) were more worried than men (47%).
People without any super reported the highest levels of worry, with 23% worrying frequently, the advocacy group said.
Read the full report in Money Management.
Smooth Retirement Pty Ltd is an independent service providing expert guidance in equity release and retirement income planning Australia-wide. ABN: 46 619 010 445; AFSL 510015; Australian Credit Licence: 510015; smoothretirement.com.au; firstname.lastname@example.org; 1300 510 015. Terms, conditions, fees and charges apply.