Bur­den for gen Y

Money Magazine Australia - - FROM THE EDITOR -

I un­der­stand the in­tent be­hind the story, but as a hard­work­ing gen Y I am aghast at the thought of all my an­nual taxes go­ing to­wards older gen­er­a­tions who have failed to ad­e­quately pro­vide for them­selves, or gamed the sys­tem to the point where it is un­sus­tain­able.

It is be­yond com­pre­hen­sion that given five work­ing decades to plan for re­tire­ment, 80% of the pop­u­la­tion will still qual­ify for the full age pen­sion. Worse still, those who do plan

and save $750,000 to pro­vide for them­selves are no bet­ter off than those who choose not to and take ad­van­tage of their chil­dren who have to foot the bill.

Martin, NSW

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