Currently you cannot get the aged pension until you are 67.
The aged pension is currently 772.60 a fortnight for a single person and $582.40 each if a couple.
Now, consider the extra health expenses involved in aging. Dental/dentures, drs and specialist appointments, glasses etc. Sure medicare will pick up some of the slack, but not all of it. Could you live on 385/week?
And considering the government will not increase the pension, i doubt it will keep up with inflation. Plus if they continue to increase it, then what age will it come into effect when we reach that age? 70? 75? higher. Ok, so you may become too incapacitated to work, that means you can claim 714/fn. or 536.7 each for a couple.
My grandad is a self funded retiree, he lives very well, gives very generous gifts. He reckons he lives like a king. DHs Nan is on a pension, plus she does tailoring work for cash and she scapes by as she doesn't own her own home.
So i think that it is very important women especially, consider what they will do when they reach that age, and what they want out of their older years.
Regarding pensions, there are some assumptions being made about those who stay home.
Choosing to stay home doesn't mean that you can't be financially independent. Many SAHMs who I know have self managed super funds, investments, and/or businesses of their own.
It's not really the fact that being a SAHM isn't a valuable and great use of your days, it's that your hubby doesn't want you too.
What if the hubby wanted to take some time off to be at home? It just seems like a lot of pressure to put in him to be the sole breadwinner once the kids are in school.
OP I think at the end of the day, you need to sit down and work out what is best for both of you. Maybe you could compromise and only work 2 days a week, it would still bring in some extra money and leave you plenty of time to take care of your family and house the way you want.
the question was raised and I answered as I did because most of my husband family seem to not have any thought for the future and I think everyone should at least consider the fact these safety nets might not always be available
It wasnt an assumption that sahms don't have super
**Mum, Dad, Big boy (Dec 08) and Baby girl (Feb 11)**
You were talking about not wanting to work outside the home even when your kids are in school and you were happy more or less to potter around.
That would make you a SAHH (stay at home housewife) not SAHM. Some were critical as once the kids are all in school what will you do with the free 5-6 hours a day? Unless you live in a McMansion it doesn't take 25-30 hours per week of kid free time to run a household. You would have a more relaxed pace than hubby and time to potter around. That, while your hubby is working at a probably more frantic pace, wouldn't be fair.
If you plan to start your own business or what not then that's great. But I don't think you can blame people for jumping to conclusions as your earlier post really did come accross as you just wanting to potter around.
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