Dynamic Business Logo
Home Button
Bookmark Button

Financial crisis has Baby Boomers delaying retirement

According to a global study conducted by TNS, the global financial crisis has baby boomers running scared, with 44 percent of Australia boomers hinting they will have to postpone their retirement.

The study looked at how the global financial crisis is affecting consumers in five key countries – the UK, France, Germany, the US and Australia, with Australians a lot more pessimistic about the future than their counterparts.

According to John Shearer, director with TNS Finance, baby boomers are worried how their super has been affected by the crisis.

“The hit that their super funds have taken in the global financial crisis has really shaken up Baby Boomers, many of whom have now seriously started to reconsider their retirement plans.”

According to the study, 71 percent have indicated that they will cut back on spending in the next 12 months, and just over half (52 percent) say they will be unlikely to be able to save any money in the year ahead.

People who read this, also liked:
The World Financial Crisis According to Julia Ross
SMEs face $1 billion super bill
Super funds slide, markets crumble
Australians concerned about super fees

What do you think?

    Be the first to comment

Add a new comment

Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

View all posts