This is a retirement complex under construction in Adelaide that have called the administrators in.
http://www.abc.net.au/news/2012-06-25/retirement-village-records-receiver/4090996?section=business
Just one more way to lose your hard earned retirement cash.
Retirement does seem SO far away when you first start work, but my advice would be to start saving for retirement with your first pay. Even if it is only $10 per week. That small amount is better than nothing and it will amount to something over time. Deposit your 'retirement' savings into a term deposit and once that grows look at other investments, whether it be shares or property.
If you wish to live comfortable during retirement you will need approximately $50k per couple. This amount will cover private health insurance, travel, car expenses, gifts, new clothes, etc.
If you are looking to retire and live in a retirement village, then that is a whole another expense. You really need to do your research and ask questions such as, what is the initial cost, what are the ongoing expenses and what is the exit cost and are these expenses likely to change? Like any other property investment the price will vary depending on the size, style, condition and position of the home.
What a fascinating thread!
I've got one set of retired parents (in laws) and one set (mine) who are both still working full time.
The retired lot enjoy some cafes and table tennis and a few activities, but I think at this stage they have started to have to rein the spending back as their income isn't what it used to be preGFC. They have still got plenty of years to go too.
My parents will probably have to work forever, and my dad has actually started his own carnivorous plant nursery as his 'retirement job'.
But at 30ish I haven't even thought about retiring. What would you do with all that spare time? Sure I would love to hang out at cafes but I would need a crane after all those little cakes……..You see people like Gerry Harvey and Triguboff and they are still working even though they are headed into the 80's… maybe there is a limit to how much golf you can play.
On the word of cafes, I probably wouldn't go there. I have seen people burnout pretty fast, it really is one of those jobs where the owner is the job, and that's the last thing I would do at 65…..
Very interesting to see peoples thoughts on real retirement.
Cheers
D
DWolfe | www.homestagers.com.au
http://www.homestagers.com.au
Email Me
You must be logged in to reply to this topic. If you don't have an account, you can register here.
