Every 5 years the Australian government commissions an Intergenerational report to assess the sustainability of economic policy setting based on projected population trends and other demographics. A few of the key charts from the report are extracted below.
In a financial sense this data highlights the need for the country to review macro taxation policy if we wish to maintain our standard of living over the years ahead. In terms of individual financial strategy and dealing with the things we can control it means today’s working generation needs to be taking definite steps to build their own financial independence capital if they wish to enjoy life on their own terms in the decades ahead.