Tattoos seem to be the in-thing. But you might be surprised with how much they cost.

Patrick Canion, a financial planner with ipac, has done the numbers and finds the waste of money staggering.

Tattoo artists will typically charge $100-$200 an hour. A full sleeve would usually set you back between $5000-$7000. Single large works usually come in around $2000.

This is big money for most people. And it’s only the price of getting them. Having them removed through laser surgery is even more expensive. And according to The Australian, there will be plenty of this being done as people realise tattoos don’t go well with aging bodies.

Unfortunately the younger generations are surrounded by high profile sports and move stars adorned with body art and they feel compelled to mimic them.

“I see a lot of 20-somethings earning pretty good money,” said Canion, “but a lot of them are still living with Mum and Dad and have high disposable incomes. They switch on the TV and see all the footy players and rugby players covered in tatts..”

Canion says the money spent on body art wold be much better off in a superannuation fund.

“For example, $5000 put into your superannuation fund at age 25 could be worth nearly $75,000 when you’re aged 65. Don’t’ want to wait that long? At age 55 you could have more than $38,000.”

The main argument against this is that either the superannuation fund or the individual may not be there to collect when access to this sum is finally granted. Financial planners still languish near the bottom of the list of dependable professionals in Australia – even being seen as less trustworthy than lawyers.

Why not enjoy the money while they’ve got it? Plenty can happen between the age of 20-something and 65.

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