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Metlife study confirms retirement concerns
Australians are still not doing enough to ensure a comfortable retirement, according to new research released by major insurer Metlife.
The Metlife study has confirmed that more than half of all Australians will outlive their retirement savings, with most acknowledging they are not accumulating enough wealth and have fallen behind in reaching their financial retirement goals.
According to the Metlife study, sections of which were released to a Super Review retirement incomes breakfast, also found that Australians tended to become more fearful about outliving their funds the closer they moved to retirement.
It found that 52 per cent of Australians over the age of 51 were extremely concerned about outspending their savings.
Confirming other research, the Metlife study found that the root cause of concern for those aged over 50 was their comparatively meagre superannuation balances, with the average totalling only $52,500.
AUTHOR
Mike Taylor
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