‘Living in a caravan park’: Not all Baby Boomers are retiring rich
The recent federal budget has highlighted the financial struggles faced by some Baby Boomers, particularly those who are not retiring wealthy. Many, like Carmel Bell, find themselves in precarious situations, relying on rental properties and facing significant financial challenges. The budget's focus on aiding younger generations has left little support for older individuals who are struggling to secure a comfortable retirement.
- ▪Carmel Bell, a 64-year-old woman, is renting her home and has no hope of owning property.
- ▪After suffering a cardiac arrest and a severe brain injury, Bell's financial situation deteriorated, leading to a reliance on a reverse mortgage.
- ▪The recent federal budget aims to assist younger Australians in buying homes, but offers little support for less wealthy Baby Boomers.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.