National Australia Bank: MLC chief executive, Andrew Hagger, said there had always been an expectation that future generations would do better than people today, yet these findings paint a different picture, according to The Guardian. Related:Australian first-home buyers face higher than ever loan default risk, says report It concerning to see so many people are worried about how their children will afford their own homes and live a comfortable lifestyle, Hagger said, releasing the survey of 2000 Australians views on Sunday. New research by MLC, part of National Australia Bank wealth management division, also found one third of parents are concerned their children will not enjoy the same standard of living as their own. Those worries also spread to half of those surveyed who believe they won’t be able to maintain their own lifestyle in 10 years’ time. However, while just over half of those in retirement rely on the aged pension, only around two in five Australians who are entering retirement believe they will need to rely on the government. One in five expect they will need to rely on family inheritance to pay off their mortgage or ensure their financial stability.
(news.financializer.com). As
reported in the news.
Tagged under National Australia Bank, MLC topics.