Image Source: AsiaOne
New Zealand - August 18, 2022 — The current global cost-of-living crisis has proved, yet again, that saving insufficiently for the retirement years can lead to many problems for the elderly. Yet, the most recent data indicate that only around 36% of NZ’s working population prioritises saving for retirement, and as much as 70% of New Zealanders over 40 believe they will need to work well past the age of 65 to make ends meet, with few seeing full retirement as ever being a real option.Many New Zealanders who have already entered retirement are also finding that they are unable to maintain their current lifestyles due to the financial burden of rising inflation, which is having a knock-on effect on everything from living arrangements and diet to medical care. In order to prevent such difficulties for future retirees, it’s necessary to prioritise retirement savings early.
Source: AsiaOne