Are you a Kipper?

KIPPER stands for Kids in Parents Pockets Eroding Retirement savings. This phenomenon has been on the increase over a number of years to approximately 83,000 of age ‘20’ somethings living at home with their parents. This phenomenon and our increasing long life expectancy is creating an interesting cocktail of challenges.

The Australian Bureau of Statistics predicts the life expectancy of an Australian male and female of 65 years of age to be a further 19.2 years for the male and 22.1 years for a female. Thus an Australian male is suggested to live to 84.2 and female to 87.1 with longevity likely to improve further!

Medical advancements and shifting statistics continually push out life expectancies. Planning for this means retirement savings need to last longer, we also need to work longer, save more and make our money work harder for us.

Preparation and facing the long life expectancy statistics is all important!