Treasurer Scott Morrison has given Australian workers on warning.
They should no longer “expect” to receive an age pension from the government when they retire.
There’s been no announced policy changes to this effect yet. However, this is definitely a clear message that this government wants to reshape the way Australians retire.
Currently, most Australians receive at least a part pension when they retire – often supplemented by their superannuation.
However, Morrison is now saying the Pension is not an ‘entitlement’ for all, but rather a welfare ‘’safety net” for those who are unable to fund their own retirement.
This is a significant announcement, because for many Australians the Pension is their retirement plan!
And, it’s been bought about because with Australia’s aging population and generous welfare state, it’s getting harder for governments to balance the budget with our current tax revenue.
Now, while any changes would have to be legislated, and then get through the senate….
If there was ever a time, to get started in building a retirement income stream through property investing…. now’s the time.
That’s because every positive action you take now in your property portfolio is like a seed planted…that could grow into an orchard of financial freedom, security and choices in years ahead….
While delaying action, could leave you with a barren field of financial stress and heart ache in your retirement.
So let’s start planting seeds today….