Baby boomers express savings regrets
Almost one third of ageing baby boomers expected the federal government to help fund their retirement while 1 per cent said they would ask their children for help, according to a University of NSW survey of nearly 7000 older Australians. Many did not know how they were going to fund their retirement years. Many respondents regretted that they had not saved earlier. Nearly half the respondents said they expected to pay for nursing, security or other forms of assistance out of their savings and superannuation. About one third said they would sell or rent the family home.