Some Interesting Facts of “Baby Boomers”

 Some Interesting Facts of “Baby Boomers."

 $381,000 – The averaged accumulated wealth of a “Baby Boomer” (aged 45 to 64) compared to the net wealth of $292,500 for all Australians.

90% is the number of baby boomers aged between 60 to 64 years who have managed to pay off their home loan.

80% of baby boomers are home owners. The average equity in their homes is $161,00 each.

75% of people in the 45 to 64 years age group carry a combined total of $150 billion in debt and an average debt of $59,000 per household.

$1,120 is the average spending of a boomer household.

$65,100 is the average baby boomers superannuation balance. This accounts for 17% of their net wealth.

In total all the baby boomers make up a quarter of Australia’s population and are the wealthiest generation due mainly to the strong growth in asset values this includes residential property.

Some retirement statistics :-

A comfortable lifestyle in retirement is $48,000 net per annum.

A modest lifestyle in retirement is $26,000 net per annum.

The aged pension is $22,000 (That’s if you qualify for one.)

What are you going to do when you retire?

1. Stop paid work. 18%

2. Work part time. 16%

3, Start your own business. 13%

4. Cycle between paid work and leisure. 40%

5. Don’t know. 7%

6. Continue working full time.  6%

Unfortunately only you can make this choice.

Aussie-Retiree aims to make it easier to make an educated decision.So stick around for more great information coming your way.