I wrote in my book that I fail to see how the government will afford to support people in retirement in the future and the feeling of entitlement many have for the pension will forcibly be tempered with the reality that it just won’t happen.

People really need to take a balanced approach to life, to have the best lifestyle possible when they retire, and rather than complain about the age of 70 being harsh they need to take action now.

“It’s a mathematical impossibility for there to be a pension on a growing, expanding and ageing population, with only a limited income coming in. It just won’t be there. You will have to support your own retirement.”

Mr Hunter said this “ignorance” would catch-up with people as they approach the end of full-time employment and realise they’re considerably short of their retirement goals. Property investors aren’t immune from this phenomenon, he said, with many not accumulating enough equity and failing to adequately plan how their portfolio will fund their retirement.http://spionline.com.au/home/13009-mathematical-impossibility-for-aged-pension-to-continue-?utm_source=&utm_campaign=_Bulletin20_06_2014&utm_medium=email