Link: Over a third of Australians say they’ll never be able to retire

About 40% of Australians feel they will never have enough money to retire, despite Australia having a highly praised pension system. This was revealed in a survey conducted by Natixis Investment Managers.

Australia's superannuation industry, valued at $3.9 trillion AUD, is considered a global model, cited by experts like BlackRock's Larry Fink.

The nation ranked seventh in the 2023 Global Retirement Index, which reviews retirement securities like finances and quality of life across 44 countries.

However, the survey found a significant portion of Australians doubtful about their financial security during retirement.

Australia's retiree population is projected to more than double over the next 40 years, increasing potential strain on the pension system.

Despite compulsory employer contributions to the superannuation fund, factors like inflation and interest rates raise concerns, with 19% globally saying $1 million wouldn't suffice for retirement. #

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Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.