Our Social Security Blind Spots

[footfootfoot]

Originally Posted by xoxoxoBruce

I mean really, when you reach that age you're living on dividends from your portfolio, and trying to figure out how to avoid taxes while setting up trust-funds for your heirs, so that SS pittance won't make any difference.

I wish I'd known about this sooner. I'm nearly 30 years behind the curve. I'd better go portfolio shopping tomorrow.

Originally Posted by ZenGum

Oh, here in our hippy-fascist social utopia, wages and salaries include a compulsory superannuation contribution (at least 9%) which is deposited in a managed fund and then either (a) wisely and profitably invested in the stock market, (b) nibbled away at by admin fees and/or (c) blown on wild gambling on long-shot penny-dreadful mining stocks. Mostly (a), I hope.

This is in addition to (and meant to decrease reliance on) the age pension.

Yes but you're being paid in Australian Wallabies. That's like comparing Centigrade to Celsius. How many Wallabies the the Dollar? Then we convert that to Fahrenheit and then you see our country is actually funding your retirement.