Re­tiree cash splash alert

Sunday Tasmanian - - News -

RE­TIREES are splash­ing on lux­ury cruises, prompt­ing fears they could run out of money be­fore “run­ning out of life”.

The new fi­nan­cial dan­ger is emerg­ing for many of Aus­tralia’s 3.7 mil­lion over-65s.

Wealth spe­cial­ists are notic­ing a rise in peo­ple in their mid­dle re­tire­ment years spend­ing up big.

HLB Mann Judd Syd­ney’s head of wealth man­age­ment Michael Hut­ton said big spend­ing was fine for those who could af­ford it, but it was a mis­take for re­tirees to think they would need less in­come later.

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