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Millions of Australians fear they will be too poor to support themselves when they stop working, a new survey has revealed. A survey of 1063 people by comparison site Finder found 23 per cent of respondents did not have enough money in their superannuation or other investments to get by in retirement — equating to a staggering 4.6 million Australians.
Choice’s figures assume someone owns their own home outright when they retire, and combine the spending and saving of two people living together for couples They also factor in additional income retirees may be entitled to from the Age Pension. ‘Too little too late’ Finder money expert Sarah Megginson said superannuation was something many Australians did not engage with enough.
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