Survey Shows Retirees Worried about Finances

A recent survey has revealed that retirees are less optimistic than before. The survey, conducted by ME Back, indicated that most households were feeling slightly more optimistic about their finances. The only exception was the retiree group.

The survey showed a drop of 5% in the ‘financial comfort’ category for retirees over the past six months. The retirees stated that they were feeling more worried about their income stability, investments and living standards.

The ME Bank survey has been running since 2011 and this is the first time that the retiree group have not been at the top of the ‘financial comfort’ category. Empty nesters topped the survey, with financial comfort levels up by 12%.

However, on average Australian households reported a financial comfort level of 5.5 out of 10, which is 0.21 points higher than it was six months ago. The slightly more positive results may be due to cheaper borrowing rates, which are more likely to benefit those with mortgage rather than retirees.

Source: http://www.theaustralian.com.au/business/breaking-news/retirees-more-worried-about-finances/story-e6frg90f-1226691129473

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