Business

Rockhampton truckie on the long haul to retirement

Rockhampton truck driver Phil Tout at the Oxford Hotel doesn't want to be driving trucks until he's 70, taken November 16 2014. Madeline McDonald / Rockhampton Morning Bulletin
Rockhampton truck driver Phil Tout at the Oxford Hotel doesn't want to be driving trucks until he's 70, taken November 16 2014. Madeline McDonald / Rockhampton Morning Bulletin Madeline McDonald

ROCKHAMPTON'S Phil Tout wants to be behind the wheel of a Winnebago when he's 70, not the wheel of a truck.

The 57-year-old has been a truck driver for the past 45 years and although he likes his job, he doesn't see himself being able to drive long distances as his age progresses.

"I'd love to get a caravan and travel around Australia but I don't think I'll be able to do that when I'm 70," he said. "I was planning to retire about two years ago but decided to keep working for a bit longer but I didn't plan to work until I'm 70.

"It's not very realistic for a person that age to be driving long distances and offloading trucks, but now it looks like I'll be working until I physically can't."

However managing director of Capricorn Investment Partners Ltd David French has a different opinion on working for as long as you can.

"For the good of society people need to keep being productive until they're not able to," he said. " People in their 40s need to get serious about saving and their superannuation."

DAVID'S TOP TIP:

I think you'd be in a good position if you had $1 million in super and owned your own home in retirement.

Topics:  employment retirement superannuation



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