Along with others I do a bit here and there for older people living independently. Voluntary, arranged through local churches and community groups.

It is sobering that even those who with financial advice and prudence made what was considered to be more than enough provision for their future are now living very modest existences, which can include strategies such as under-insurance to survive in their homes.

There is a number of forces that have come together over the years to gobble away their nest eggs, even though astutely invested and managed with advice. Government taxes and user pays feature strongly in that. At local government level, raters and charges have been ramped up considerably. I will not go into the reasons why, but the cost of infrastructure for 'Big Australia' and (over-)population growth, feature strongly.

I think we are seeing the last of the generations who could look forward to living their post-retirement years in the family home and familiar surroundings in which they raised their families.

The author need not fear that wealth gathering entrepreneurs have not discovered 'seniors' or the 'Boomers', call them what you will. Because government, both sides, have already been complicit in setting loose the entrepreneurial sharks on retirees to lighten their wallets ever sooner than later. Then again, government has been taking dips out of retirement savings as the money is invested and returning for more chomps later. 'User pays'? Covered that angle too: the greying lot can sell their shelter to pay for aged care. Labor will take an extra, greedy bite with their planned capital gains tax on private homes. Then death taxes, courtesy of the Greens.

Perhaps the author is thinking of the very well remunerated womyn of Emilys List: materialistic, conspicuous consumers who intend to 'retire' as directors on the boards of taxpayer-funded Quangos and private companies. Yes, they will need glossy reading mags with the latest niche 'to die for' buys to flaunt at their next Hilton networking knees-up (somehow paid for the taxpayer as usual).

"So why do we hear so many seniors saying how hard up they are, with barely the resources to maintain basic living standards?"

Because in their younger days they were avid consumers and didn't put enough away for their old age, and then in old age with time on their hands they still spend too much on the pokies, smokes and grog.

David OBE.

Hear hear David F.
And isn't youth wasted on the young?

I have a Brother who shares your nomenclature, who married a blonde bombshell, with film star looks and a narcissistic personality?

20 years of marriage was reportedly a living hell, where he did everything, while she preened!

I spent a fortnight long holiday with them ONCE! I guess she thought she was God's gift to men?

[And doesn't Margret look nice; and or, remind one of a (Tammie's in love) singing Hollywood star, who's name I'll recall as soon as I've posted!?]

When the kids where educated and all successfully earning their own livelihoods he packed it in and found someone else; no oil painting, but seriously dedicated to their shared happiness.

He was and remains a very decent bloke; albeit, I haven't heard from him for several years!

And no amount of money and material goods can buy the Shanghai that is their (the last I heard) current lives, even with the warts and all, never let the sun set on an argument, that is successful marriage!

It is true that money can't buy happiness, but then, it can make the misery just a little more tolerable, and or, make serious inroads to the Bucket list!

Mine is a comprehensive/stay a while as the fancy takes you (getting to know you) road trip around Oz, with an affable like minded companion. Always providing, I have a place called home to eventually return to! I don't understand those wanting to jet off, when they've seen little or nothing of this wonderful wide brown land!

Too many grey nomads have sold up while the health was holding up, then regretted the hell out of it, when it failed!
Cheers, Rhrosty.

Rhosty,

In true socialist fashion, the moment you see anyone with money you want to tax them more. It doesn't matter that they have already paid some tax on their earnings, nor that they are not a burden to the taxpayer.

Yuyutsu wrote: "Now that their time has finally arrived to be free of the shackles of employment and child-rearing, now they can pursue God whole-heartedly, they can read scriptures, pray and meditate, they can even go on pilgrimage if their health allows, now it's their opportunity to make their final dash to avoid coming back to this world and going through it all over again."

Waste one's precious life in pursuit of an imaginary entity? How absolutely silly. There are many scriptures - the Jewish Bible, the New Testament, the Buddhist Tripitaka, the Muslim Koran, the Hindu Vedas etc. Which do you recommend? I intend to take a pilgrimage to the United States next year and visit Oklahoma, New Orleans, Santa Fe, Williamsburg, VA and other places where family are. Make the most of living in this world. Like other forms of life we get only one chance. Don't worry, Yuyutsu, neither of us is coming back.

As Hamlet said, "The undiscovered country from whose bourn no traveler returns."

The author does not know what she is talking about. The whole problem is very simple.

People can be divided between the young and the old.

The old can be divided between those that have money, and those who don't.

Those who don't have money are not much of a market.

Those who have money are people who are too smart to be sucked in by advertising, and so they are not much of a market.

They also realise that all the rest of society are keen to separate them form their money. They want to hang on to it, so that even if they can't take it with them when they go, they can leave it tax free to their heirs.

In addition to all of the above, retirees with money have been seeing their income fall steadily over the last few years, due to the decline in interest rates, so they are pulling their belts in and spending as little as possible.

Everybody else is complaining that they are not getting a wage increase. Retirees would be ecstatic if they could only continue to get the same income! This, of course, is ignored by the media, as their only interest is separating the retirees from their money, as mentioned before.

So, the secret of success in retirement is simple:

DON'T SPEND!!