Rise in retiree renters to influence data in decades to come

A handy advisor tool in the form of the Massey University Retirement Expenditure Guidelines, published annually, provides a useful snapshot of how the post-work years are shaping up for the baby boomer generation.

But it is yet to fully reflect how renting in retirement will impact spending, says guidelines’ author, Associate Professor Claire Matthews, in a presentation to a Financial Advice New Zealand online event.

“Our current retirees are baby boomers and older, and we have a very high proportion of home ownership and home ownership without a home loan.

“So they've paid it off, and so they've got this debt free home that they're living in, and so that is influencing their expenditure.”