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Baby boomtime : Comments
By Graeme Hugo, published 3/9/2008Australia’s baby boomers enter their sixties and present demographic challenges and opportunities.
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What is the situation facing these people?
Declining medical and other services available in the country.
No superannuation as the only way farmers achieve a retirement income is to sell the farm, but these days not even the sons of the family want the burden of paying off a farm so Dad and Mum can retire.
My father worked his property until he was 75. Only then did he sell the farm to his only son, a baby boomer, who then had to pay it off to enable Dad to retire to an urban lifestyle. Dad is now 93 and still a self-funded retiree who doesn't collect a pension.
Country people in past years never expected to retire. Someone in the family continued to work the property or manage the house after Grandpa and Grandma finally sat in the rocking chair.
There is a group of baby boomers who have spent their lives on the land contributing to the welfare of the nation, paying off the property again on a bank loan so their parents could retire.
What is the future for these baby boomers?
It is now called child abuse to leave a country property to your children, with all the debt and hard work such an inheritance means.
These baby boomers recognize this and have educated their children to be able to earn an income in the cities of Australia.
What are the long term implications for rural Australia?