Use it or lose it! Superannuation
Superannuation. It’s a tricky subject. We try not to think about it till we’re older, but then it becomes all we think about as we get close to retirement. Interestingly though, a report has come out saying that retirees are sometimes dying with more money than when they finished work.
The CSIRO has released a report showing that because retirees are only withdrawing the mandated minimum from their superannuation on finishing work, large amounts are remaining in their account, sometimes without realising.
Andrew Reeson is a behavourial economist from the CSIRO and he conducted the research and joined Mitch to have a super chat.