Older Aussies go ‘conservative’
Older Australians are switching to more conservative investments amid global economic uncertainty, a report finds. The recent report, by the Australian National University and Seniors Australia, found seniors are still concerned about their superannuation investments.
Older Australians are switching to more conservative investments amid global economic uncertainty, a report finds.
The recent report, by the Australian National University and Seniors Australia, found seniors are still concerned about their superannuation investments.
Of the 3,500 seniors surveyed, about one-third of superannuants say they have changed their superannuation investments since the start of the global financial crisis (GFC), with the majority shifting to cash or conservative asset classes.
Almost half of the respondents say they delayed, or intend to delay, their retirement to protect themselves financially.
Couples with greater wealth and who own their home outright were considerably more likely to not delay retirement.
Superannuation Minister, Bill Shorten, who launched the report, says the government should develop policies to allow Australians to live a “century of life full of quality and meaning”.
“I think that’s a legitimate public policy goal for Australia,” Mr Shorten said when speaking to media last week in Canberra.
Australians should shift their thinking on what it is to grow older, he said.
This meant giving older people the choice to work, if they wanted to, and to continue receiving contributions towards their superannuation
