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Australian pensioners may be up for tough times ahead
Senior Australians will have a lot of financial rejigging to do. Source: Getty Images
Retirees who rely on interest from their savings are among the biggest losers from the recent Reserve Bank interest rate cut - as term deposit and savings rates are slashed. Experts are urging caution if moving into higher risk, higher return investments. Financial advisors says affected retirees can adjust their lifestyles - or shop around for better deposit rates - or seek higher-risk, higher-return investments like shares, managed funds and even property. But changes to CentreLink rules on July 1st may offer opportunities to recoup funds.
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