Survey: Australians in their forties unprepared for financial future

Australians are being urged to start thinking about their financial future early, after a survey* revealed most people in their 40s were unprepared for their retirement.

Data from the survey found 42 per cent of Australians in their 40s had “not even thought about planning for the financial future”.

“And, less than one in 10 people aged 40 to 49 have a comprehensive financial plan in place for their property, investments, insurance, savings and budget.”

The report said:  Without a clear plan in place to manage their money and grow their assets, people are missing an opportunity to set themselves and their families up for a comfortable and secure future.

These results highlight the need for all Australians – not just high income earners – to seek professional financial advice.

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*CUA’s National Mortgage Survey as reported in Money Management newspaper 18 June 2015

 

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