According to Steven Covey, author of “The 7 Habits of Effective People”, the number one habit is Be Proactive – make decisions to improve your life through the things you can change.
Abundance isn’t finite, there are opportunities for ordinary Australians to create wealth but you need to know about them and be prepared to act on them! – It really comes down to knowledge and attitude.
Did you know?
- The aged pension was introduced in 1909 and was accessed by a very small percentage of the population as the qualification age was 65 and male life expectancy was only 55!
- Currently 2.4million recipients receive the Age Pension
- Currently more than half are reliant on the Age pension as their sole means of support
- The current Aged pension for a couple combined is $1288pf or $33,488pa.
- The large majority of Australians retire dependent on Government welfare
- Our population is aging. By 2050 it is estimated that 23% of the population will be over 65 and there will be only 2.7 people of working age for each 65+ individual. There will not be enough tax payers to keep the pension at current levels.
- The Age Pension affords a couple a ‘Basic Lifestyle’ (assuming you own your own home outright)
- A “Comfortable Lifestyle’ requires as a minimum $57,665 for a couple.
- The qualifying age to receive Government Age Pension benefits is rising to 70 for those born after 1965 by 2035
- We are living longer – life expectancy for males born now is 79.9 years and for girls it is 84.3years. Retirement income needs to last longer than ever before.
- Women’s super balances are on average significantly less than for males
- The wealthiest 20% of Australian households account for 61% of total household net worth.