Families bleeding dry retirement savings

Demographic changes in Australian population create problems in retirement savings planning for country's boomers.  Read the excerpt below.

NEWS.com.au - Australia

By Jenny Dillon

July 30, 2008

SOME baby boomer parents planning on a comfortable retirement are coming to the unpleasant realisation that they may miss out on the pot of gold at the end of their working lives because of two things: their parents and their children.

A report by US finance house Putnam says that with women having children later so they can establish their careers, many parents are reaching retirement age at the same time as their children are starting their tertiary education.

At the same time their parents are living longer and also requiring physical and/or financial help.

These demands from both sides of the generational spectrum mean many boomers' dreams of a work-free and comfortable retirement are going up in smoke.

Read the entire article:

http://www.news.com.au/business/money/story/0,25479,24100349-5013954,00.html