FINANCIAL ADVICE FOR RETIREMENT

Press, Volume CVI, Issue 31345, 15 April 1967, Page 21

FINANCIAL ADVICE FOR RETIREMENT

Retired person* should not be talked into financial investments that did not suit their personalities, a preparation for retirement course was told by Mr R. W. Hopkins, a senior lecturer in accountancy at the University of Canterbury. Mr Hopkins, the third speaker in the seveh-week course, said that many factors influenced older persons’ preferences when it came to investing.

"The thinking of the older group of citizens has largely been conditioned by their experiences during the depression and the actions of political parties that got into power when they offered Hie welfare state,” he said. "The welfare state ideal attracted strong appeal. But it became obvious, however, that no political party was going to provide security from cradle to grave.”

Mr Hopkins said that politicians generally aimed at over-all economic stability and providing a framework in which individuals could plan. Among the decisions that retired persons had to make was what they would do with their accumulated capital: spend it, leave it to a worthy charity or to theit families. The latter often generated many problems and created some ill feeling. Some persons were confronted with the question of where to live, Mr Hopkins said. Home ownership flats were becoming increasingly popular, but they did not suit everyone. In many cases, family considerations had to be taken into account.

Mr Hopkin* Mid that the Mme advice could not be given to all person* ready to retire. There were many variables, especially in earning capacity. Concluding bls address he outlined investment possibilities which included advice on insurances, stocks and shares, and property. Miss A. H. Thompson, senior social worker with the Social Security Department, spoke on the rates and qualifications persons had to have

to receive State benefits.