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NewsHave You Ever Had it So Good?
Have You Ever Had it So Good?

Have You Ever Had it So Good?

What was the happiest year of your life? Many readers will have more than fifty years of conscious albeit inaccurate memories to sort through.

But despite our inevitable bias and selective memories about the ‘good old days’ a more correct answer could be that right now, older Australians are now being told we’ve never had it so good’ although the pal I shared this good news with at the greengrocers looked less than impressed.

Two debateable reports this week both point to the relative affluence and good fortune of older Australians subject to having their own home.

Two headlines stand out:

 You may disagree and while it’s NOT applicable for everyone and there is no such thing as the truly average person, in aggregate, it’s arguably true.

The first story in the Sydney Morning Herald quotes Professor John Piggott, of the University of NSW; “Our analysis shows that standards of living of older people have improved over the last decade . . . Households reaching retirement age today have incomes about 45 per cent higher than those reaching the same milestone 10 years ago.”

It may be a big claim and is based, says economic editor Ross Gittins, on the way the pension is indexed and the rise in property values.

But the data from the Centre of Excellence in Population Ageing Research is clear: The better off are now much better off and even the rate of poverty amongst those aged over 65 is only slightly higher than for 15 to 64 year-olds.

We are in some ways a favoured but fearful class of citizens.

The second story refers to the Grattan Institute report which claims the superannuation ‘lobby has falsely claimed too many Australian have insufficient savings to guarantee a comfortable retirement'.

The institute, which takes issue with they what they describe as unfair tax breaks around super and for older Australians, says in fact most workers, will get a retirement income worth 91% of their pre-retirement income.

Their report Money in Retirement: More than Enough adds most retirees own their own homes, are net savers, and more likely to afford annual holiday and less likely to suffer financial stress than younger others.

The glaring exception to this apparent abundance are those who don’t own their own home and have to rent on the private market.

I don’t know how you feel but just  maybe you really have ‘never had it so good’ but until someone spelled it out you just didn’t realize it.

 

Are you better off now? Leave a comment below.

Originally posted on .

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Frances
Frances from VIC commented:

I agree with all your comments, I am 68 and still working to try and increase my super. I have a gap of twenty five years when I didn't work due to circumstances beyond my control. My gas bill keeps rising by $100 a year each winter and this year it was nearly $400 and what amazes me it says on the bill that I use the gas of a household of four people even though I have only one wall heater in the lounge room and it didn't get turned on till 6pm at night and my house is only 12 squares and I am at work three days a week now. I am out the other two days. I do have a gas hot water service. I don't know whether it's because recently they changed my gas meter over. Now I read in today's HeraldSun power is going up another $30 next year. I do not want to give up work when I see how the bills keep rising. I can understand how pensioners go to bed early to save on power costs. 

beryl
beryl from NSW commented:

They need to take their heads out of the sand and talk to real pensioners 

Ian
Ian from QLD commented:

I'm shocked so all I can say is rubbish a very narrow answer.Even though we were told the the 1960's in England technology would make things easier sorter working hours week ends free with families.Since that decade to 1999 when I had bad accident and worked on a night shift for 5 years with my pain to support a family.Not much super has it was hard to get work being middle aged.My wife had to go out to work to support the family her super is low as like me came as an Immigrant at 40yrs old.We own our own house never went out with our children apart from short drives once a month.we don't drink, smoke no drugs, parties etc.Otherwise it would have never happened.When my wife will retie at 60 yrs old not at 67yrs old as she suffers from stress and always tired with Child care she ahas issues with her back. 

Kimberley
Kimberley from NSW commented:

Very interesting that experts think that we have never had it so good. We have pensioners sitting in the dark in their beds because they can’t afford electricity. Our homeless population has grown and our charity food kitchens are feeding more people than previously. I am semi retired and have tried to save all my life and as a result have too much money to get the pension. I am told to spend it to reduce it down past the threshold but I am not rewarded for being a saver. Food is extremely expensive and one has to heat your home even though you are the sole occupant. Would the people who write this crap like to swop places with some of the pensioners??? I don’t think they could survive on less than $400 per week in their new flash cars. Sorry I think it’s crap and trite rubbish. 

ian
ian from NSW replied to Kimberley:

spot on Kimberley, I don't know where they get this b/s from,but we didn't get super until approx 10 years before we retired and it was nowhere as generous as today. It's those who are in there 30s and40s who will be better off in the long-term. As far as Centrelink is concerned leave pensioners alone, haven't we done enough through our working lives. Ian NSW. 

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