The pensioner challenge

**EchiDna** · 29th February 2008, 12:04 PM

Xavie, you are not wrong, but I don't agree as my grandmother's story was the 'good' side of the coin, on the other side, my grandfather had nearly 40 years of misery with rheumatoid arthritis. My grandfather was a baker through the war and even had two delivery trucks taken off him for the war effort at that time with no recompence - how the heck do you deliver bread on a mountain side without a vehicle when you can't even walk without a stick at only 35?

In a way he was lucky because the country town he was from was flooded with families wanting to escape the perceived risk of living in a big city during wartime, so there was more bread to be sold - did it make them rich? no way, but it did give them enough so when he "retired" and sold the business they could buy a run down 20 acre property with the money. In the next 40 years before he died, the disability pension was all the income the family had (no carer's allowance for my grandmother, no way to work as she had to take care of him). My mum was also still in school and luckily an only child so the bill's were not really big, if there were another couple of mouths to feed, they would have been dirt poor.... My grandmother lived long and healthy and died relatively quickly unlike her husband, but if they didn't plan for the future, the last 20 years of her life would have been horrible.

So this scenario is nothing new and this story above is nothing unique - I'm sure 100 people on here could tell you the same thing from a different perspective, however as alluded to by Stevo68, and I agree, failing to plan, is certainly planing to fail. A fall back system is not the solution, it's a safety net.

IMHO, you just have to save at least 10% of what you earn, excluding what goes into super for a rainy day. I've managed that my whole working life so far (even grossly exceeded it at times) and I'm happy that I'm on the path to being able to look after my wife, kids and myself at a decent level for the rest of our days (whenever we retire).

**BigJon** · 29th February 2008, 12:15 PM

Originally Posted by stevo68

I to and fro on this subject, one thing for sure, it motivates me now so that I don't end up living like that. I feel there is a difference between ending up on a pension versus say somebody who is on a disabled pension. The former has a whole life time to ensure their latter years....like we all do. The latter was disadvantaged from the get go and as a society should be reasonably well looked after...but to what extent. Are we meant to have a Utopian society or is it like in the jungle...survival of the fittest.

Currently and previously, something like 95-96% of the population retires onto a pension, my goal is to retire independantly wealthy, that figure scares me. The average person can start to secure their future now, but most don't, making plans whilst life passes them by. It's not like its a surprise that you become old and most likely going to need some form of medical attention. It's not a surprise that if you don't put yourself ahead now that in the future you will be behind. Again, horses for courses, for some that suits and if you are happy with that...kudo's. I personally don't feel, as noted in Aces comments, that I work all my life and expect to be somehow "repaid". It is my life, my choices, how and where I end up will be 100% on me. Its like the choice of being an employee or employer, one comes with security, one comes with risk. Most people will go security over risk any day of the week...and that is a choice. Does it mean that an employee cannot become independantly wealthy...of course not, but they have to be motivated to do so....like anyone. Ultimately depends on what your definition of success is and whether you are happy. If you have 2 arms, 2 legs and of reasonable health and end up on $269 a week when you have had 35-40+ yrs of time before that, whose fault is that?

Regards

Stevo

I have this suspicion, after reading this post and many of your other posts, that should we ever meet, we will get along just fine

.

**stevo68** · 29th February 2008, 12:27 PM

I have this suspicion, after reading this post and many of your other posts, that should we ever meet, we will get along just fine

.

Thanks mate and I concur

, I hope to get up that way in the next 12mths as have never been to the NT, just have to wait till the business is more established and the last bratsky is settled into the family

,

Regards

Stevo

**BigJon** · 29th February 2008, 12:46 PM

Originally Posted by stevo68

Thanks mate and I concur

, I hope to get up that way in the next 12mths as have never been to the NT, just have to wait till the business is more established and the last bratsky is settled into the family

,

Regards

Stevo

Pity I won't be here

. I am leaving at Easter time to move to Horsham in Vic... following swmbo

. I am looking at fly in/fly out mining work, then I will have more time off for frivolous traveling

. Her indoors comes from Brisbane, so we might wander up that way again for a holiday at some stage.

**UncleHo** · 29th February 2008, 01:00 PM

G'day Folks

I missed the ACA report on the Pensioners, but it would have been interesting to watch,but the management was watching Channel 7

$269 a week, that would be $538 a fortnight for a single person, and not much more per couple

our rent is $290 per Fortnight.

Welcome to my world

I have been on an Invalid Pension, Oops! Disability Support Payment since July 1982

and I have watched the prices go up and the pension go backward now for the last 10 years, my half of our combined pension is $496 Per Fortnight or $248 per week, and that INCLUDES rent assistance,medical allowance, and telephone allowance,so it is not a huge amount to live on, our closest shop is 3 Klms away, (6 klm return trip) closest servo is 8 klm away, we don't drink or smoke anymore,(Psst, I will do light mechanical work for a bottle of Scotch)

and it has been 4 years since we have seen a movie in a theatre, we have a few luxuries, a 20yr old Holden, my 40 year old Landrover

both have prepaid mobiles for emergencies, and we share our hobby of Obedience Trialing our dogs, local trials only,we have the internet, and most importantly we have some VERY GOOD FRIENDS, both from the dog world and from the Landrover/Military world, at the moment we are in reasonable health, so what else does one want,I was still breathing when I woke-up this morning

and we are better off than the person that can't get up.

what we have we own, it may not be the greatest but it is ours.

Bung-Tiddley

**Ace** · 29th February 2008, 09:44 PM

Originally Posted by stevo68

I to and fro on this subject, one thing for sure, it motivates me now so that I don't end up living like that. I feel there is a difference between ending up on a pension versus say somebody who is on a disabled pension. The former has a whole life time to ensure their latter years....like we all do. The latter was disadvantaged from the get go and as a society should be reasonably well looked after...but to what extent. Are we meant to have a Utopian society or is it like in the jungle...survival of the fittest.

Currently and previously, something like 95-96% of the population retires onto a pension, my goal is to retire independantly wealthy, that figure scares me. The average person can start to secure their future now, but most don't, making plans whilst life passes them by. It's not like its a surprise that you become old and most likely going to need some form of medical attention. It's not a surprise that if you don't put yourself ahead now that in the future you will be behind. Again, horses for courses, for some that suits and if you are happy with that...kudo's. I personally don't feel, as noted in Aces comments, that I work all my life and expect to be somehow "repaid". It is my life, my choices, how and where I end up will be 100% on me. Its like the choice of being an employee or employer, one comes with security, one comes with risk. Most people will go security over risk any day of the week...and that is a choice. Does it mean that an employee cannot become independantly wealthy...of course not, but they have to be motivated to do so....like anyone. Ultimately depends on what your definition of success is and whether you are happy. If you have 2 arms, 2 legs and of reasonable health and end up on $269 a week when you have had 35-40+ yrs of time before that, whose fault is that?

Regards

Stevo

When you put it like that i look at it differently, but i suppose alot of people live in the now and stuff the future. When in realty its the future you should be planning for as that is when the kids will be gone, and you have all that time on your hands

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