We know about yuppies (young professionals living a luxurious lifestyle), dinkies (double incomes no kids) and now we have dippies – not drunken Lincoln or Massey students, but over 65 year olds, still working (double incomes, plural pensions). These dippies think 65 is the new forty – not a bad mind-set, I think! These guys are people over 65, still working and, in some cases, still caring for young children (thanks to a second time around marriage/partnership). But, they are collecting the pension.
Today over 55 year olds comprise 24.7% of the population but own 54% of the nation’s wealth. In 2031, baby boomers will make up 32% of the population and hold even more of the country’s wealth. We are working harder, staying in our jobs longer and focusing on staying fit and healthy.
Are we going to out live our money? What does your retirement look like?