Make your cancelled holiday count If your usual Christmas travel plans have been put on hold by COVID-19, don’t despair. Your holiday savings could turn out to be a cash bonanza for your finances. COVID-19 has played havoc with our love of travel, forcing many to shelve their annual summer holiday for another year. But while you still can’t take that overseas trip you’ve been craving, there are plenty of ways to put your funds …
Market Update 27 November 2020 Investment markets and key developments over the past week Global share markets pushed higher again over the last week as positive vaccine news helped offset fears about the short-term economic impact of lockdowns in the US and Europe. US shares made it to a new record high as President elect Biden’s nomination of Janet Yellen as Treasury Secretary was seen as positive. Reflecting the positive global lead Australian shares had a …
How to save for retirement at every age No matter how old you are or where you’re at with your financial goals, it’s important to plan for your retirement. The average Australian now lives to 82.8 years, making retirement a life stage that can continue for two decades or longer. So while this milestone may seem like a lifetime away now, it’s never too early or late to start planning for retirement. Our decade-by-decade guide …
Modern Monetary Theory – can it help with economic problems or is it just another Magic Money Tree? Key points Modern Monetary Theory reminds us that monetary financing of government spending need not be inflationary if there is spare capacity in the economy. But it suffers from a number of problems: it implies there is always some sort of free lunch; it underestimates the costs of large-scale public employment programs; and it underestimates the difficulties …
Is $1m enough to retire? A million dollars is a figure that’s often cited as the amount you need to retire. But while $1 million doesn’t go as far as it used to – it only goes slightly above the median house price in Sydney1 – for many people it still sounds like an impossibly large amount of money to save. In reality, there’s no set figure you need to have accumulated in savings, super, real …
Managing retirement in the COVID-19 environment Investment markets are experiencing significant volatility, and for those planning for or heading into retirement, there’s limited certainty at a time when you likely need it most. Hosted by Lara Bourguignon – Managing Director, Superannuation, Retirement and Platforms at AMP, this webinar is delivered by Darren Beesley – Head of Retirement Solutions at AMP Capital, who gives his perspective on the impact of COVID-19 on retirement plans and the …
Econosights: Global labour markets are worse than they appear Key points Global labour markets have proved resilient during the COVID-19 shock. One of the reasons for this is the utilisation of wage subsidy schemes. These schemes mask stood down or underutilised workers, keeping the unemployment rate artificially lower than it would be otherwise. The labour force participation rate has also plummeted in developed countries which has helped to keep the unemployment rate down. These discouraged …
Five reasons why this downturn and subsequent recovery are different – and where are we in the Australian recovery now? Key points This economic downturn and recovery differs from those of the past in that: the downturn was driven by a government shutdown; fiscal and monetary support has been faster and bigger; forced asset sales have been headed off; it’s dependent on containing coronavirus; and it’s seeing more rapid structural change. As a result, we …
What a COVID-19 vaccine means for stocks AMP Capital’s Australian Equities Portfolio Manager, Dermot Ryan, shares why a vaccine could be great news for stocks in 2021. In a massive healthcare breakthrough in the race to save and protect lives from COVID-19, Pfizer and Moderna have both announced some highly promising vaccine trial results. All going to plan, this should save lives and, in time, help us return to some form of normality. While it’s …
Market Update 20 November 2020 Investment markets and key developments over the past week While the US S&P 500 fell slightly over the last week on the back of rising new coronavirus cases and tightening restrictions in the US, other major global share markets rose helped by good vaccine news. Australian shares continued to recover with hopes that quick action will limit a covid outbreak in South Australia and as economic data continued to surprise …
