Data research company DEXX&R has reported that $296 billion, or half of the SMSF total are ready as retirement savings. This is predicted to balloon to 61.5% of the total SMSF savings by 2023 at $562 billion. The report also indicates the need for less risk income for retirees, who will most likely opt for fixed income investments to secure their finances.
It is also forecasted that because of the growing number of retirees, financial services are expected to increase by 7.5% every year. It is critical that these people get sound financial advice from licensed individuals, not only to secure their retirement income, but also their dependents future.
Read more about this on the Financial Standard Online website.