Category: Money & Life – Work & Retirement

Structural flaws in super system losing Australians $billions.

Structural flaws in super system losing Australians $billions. The Productivity Commission has recommended sweeping changes to the superannuation system, highlighting key flaws that are costing members nearly $4 billion a year. The Commission, set up by the federal government as part of its response to the Financial System Inquiry has named multiple super accounts and underperforming funds as the key reasons why members are losing out. A key recommendation for tackling the problem is the …

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Early retirement – is it right for you?

Early retirement – is it right for you? International research shows leaving work early may not be so good for your life expectancy. We bring you a checklist of things to consider before you leave work and ride off into the sunset for your happily ever after. Retire early for a longer life? If you’ve already squirreled away enough super for an early retirement, it’s probably pretty high on your list of priorities. But money …

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Retirement and your mental health

Retirement and your mental health It can be hard to stay engaged and keep a positive outlook in retirement, but advances in technology can help enormously. For example, if you are interested in volunteering, websites such as Good Company can instantly put you in touch with hundreds of opportunities, charities and individual projects. Or other options such as renting out a spare room on Airbnb or driving for Uber will not only contribute to keeping you more connected, you can also …

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5 reasons to save for retirement

5 reasons to save for retirement Saving for retirement might not seem important, especially when there’s the super guarantee and aged pension to fall back on. But employer contributions and government benefits may not keep you as comfortable in later life as you’d like. Here are 5 reasons to make saving for your super a priority in the coming year.  Whether you’re near retirement or not, it’s important to get your head round what to …

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The real cost of retirement

The real cost of retirement When you’re looking at saving and planning for retirement, it’s important to know how much you can expect to be spending. The latest retirement standard figures and other data sources can give you an idea of the cost of retirement, but what else do you need to take into account to ensure your financial wellbeing? Running the numbers – the retirement standard Since June 2006, the Association of Superannuation Funds of …

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All about annuities

  All about annuities  All about annuities Offering a secure income for as long as you need it, annuities are often seen as a safe, but not very sexy option for investing your retirement savings. This animation unpacks the pros and cons of annuities.   Online source: Produced by The Financial Financial Planning Association of Australia and published on 25 January 2018.  Original article.    

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How a planner can help you invest ethically

How a planner can help you invest ethically Believe it or not, you can grow your retirement nest egg and do good at the same time, especially with the help of a good financial adviser. A website recently launched by the Responsible Investment Association of Australasia (RIAA) reveals the wide choice of ethical and socially responsible investment options available in Australia and New Zealand. Many of these options are offered by well-known and experienced investment managers, but their approaches …

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Is this your year to retire?

Is this your year to retire? If you’ve got retirement in your sights this year, we’ve got the ultimate checklist to help you retire in style. Discover how to prepare for this exciting new chapter in your life, safe in the knowledge that your finances will be taking care of you. 1. Explore your goals and make plans Enjoying retirement to the full isn’t just a matter of money. It’s just as important to have …

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Putting yourself first when planning for retirement

Putting yourself first when planning for retirement You know when you’re on a plane about to take off and the cabin crew is demonstrating the safety procedures? They always say affix your own oxygen mask before trying to help anybody else attach theirs – children included. Research from the National Seniors Survey for 2017 has found that it is no longer a priority for many older Australians to leave an inheritance for their kids. With growing concerns …

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Being prepared for aged care

Being prepared for aged care Aged care isn’t something most people want to think about when they’re planning for a life of freedom and comfort in retirement. But by taking the time to explore a few important issues and questions, you can get the best possible outcome if you should need support in later years. In a recent survey of more than 5000 older people in WA, only 12% of respondents have a plan in place …

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