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The Demographic Necessity of Change
It would seem our own Andrew Creaser and Joe Hockey may be preaching from the same page – that is, the demographic necessity of change to ensure a sustainable Australia.
Andrew, along with many others has long questioned the quality of life Australians can expect if we don’t address the fact (based on current trends), that we are facing a longevity crisis.
Treasurer Joe Hockey’s recent comments regarding changes that must be made to a system “designed in the 20th century, to ensure it is sustainable in the 21st century” have sparked heated debate, but his message for a re-design “to manage the fact, and celebrate the fact, that we’re all living longer and we want to maintain a good quality of life along the way”, is a valid one.
Given the complexity of the issue and the emotive nature of the debate we’re glad that others more knowledgeable than ourselves are charged with solving the problem – our advice, the best path is to take control of what you can (understand your finances and be clear about your options), aim for financial independence.
The following AFR article, although weighing in on the political intent of Hockey’s remarks also provides an insight into the problem at large – some food for thought!
Click here to read AFR article, Budget pain to hit all: Hockey