For those on the 'procrastination plan' it looks pretty tough. The ABS figures for Australian retirees over 65 are sobering.
Surprisingly, in the so called 'lucky country', 76% are currently 'enjoying' retirement under the international poverty line, dependant on the pension - and we all know which way that's heading in the years to come!
The 'procrastination plan' looks more like a 'poverty trap'. Only 3% of over 65 year olds have financial independence with income of $1,000 or more a week.
Why Invest?
The 'procrastination plan' is very popular with many people, but it's not a plan that's guaranteed to secure your future.
Unless you're counting on a big lottery win (best of luck) an 'investment plan' is critical if you're not willing to leave your future in the 'lap of the gods'.
An investment plan is one that works towards building your wealth and securing your financial freedom. For some, the future may seem a long way off, but the time to act is now, because the future doesn't wait for anyone.
The decisions you make today will determine the lifestyle choices you have in the future.
It's clear your future will not just take care of itself. It's not a question of whether to invest, but rather of what to invest in.
One thing is certain, the average Australian won't be able to grow the wealth needed to secure their financial freedom by putting after tax savings under the bed or in the bank. Shares are volatile and a standard super plan isn't the answer.
You can labour for a lifetime and have little to show for it.
To seriously get ahead of the game you need an investment strategy that multiplies the saving potential of your current income. As it's your future at stake, you need an investment that's guaranteed to be totally safe and secure.
This is why OzInvest is your preferred partner to assist you in building your wealth creation strategy the safe and easy way.
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