There's increased anxiety amongst some Australian retirees amid a recent plunge on the Australian share market.Share market movements have an impact on superannuation because the two are closely linked
Margaret Walsh is in her 11th year of retirement and says her superannuation balance is higher than where she started. As superannuation is closely tied to the share market, that means retirees face chunks taken out of their nest eggs. "There will be some people who are very concerned. I would like to think most people in our age bracket are not relying wholly and solely on the share market," said Ron de Grunchy, from the WA Self Funded Retirees association.
I remember the GFC, I lost money but was told to not 'fold', so I did that and it not only panned out well, I got bonuses from some companies & cancellation of some fees charged to keep me on side. It worked for me, I retired and this money saved me. Margaret is right.
Margaret needs to stock up now on some supplies. Things are going down hard. Nothing is going to get any better.
Margaret is in for a real nasty surprise.
“In the long run, we are all dead!” ― John Maynard Keynes
Not concerned about shrinking super... bullshit..