Most older Aussies prefer home care over a nursing home

Most older Aussies prefer home care over a nursing home While nearly nine in 10 say they have a preference, less than five in 10 have discussed their wishes with their family. What about you? According to a recent study by McCrindle, nearly 90% of Australians aged 50 and over said they’d prefer to live out their days in their own home, even though most admitted to not having given much thought to what support …

Caring for our elders at Christmas

Caring for our elders at Christmas We can all feel the pressure on our household budget during the festive season. But when that pressure gets passed on to older family members as a request for a handout or loan, financial abuse can end up being the outcome. Find out more about elder financial abuse, what to watch out for and what to do about it. What is elder financial abuse? According to the World Health Organisation, …

Your no. 1 financial focus – decade by decade

Your no. 1 financial focus – decade by decade Everyone has a different life journey they’re on. But getting on top of key financial goals as you follow your own path could see you enjoying a more comfortable lifestyle and being ready for the next chapter to begin. Read our guide to getting all your money matters sorted out, one decade at a time. In your 20s Goodbye debt – the real danger in your 20s …

How much super should I have?

How much super should I have? It’s all very well having retirement savings as a financial goal, but just how much should you plan to have in your super balance now, and when you retire? Find out more about coming up with a super balance target, for your age group, and for the retirement lifestyle you have in mind. Above or below average? Assuming you’ve been in the workforce for a few months, years or …

Most older Aussies say they’d prefer home care over a nursing home

Most older Aussies say they’d prefer home care over a nursing home While nearly nine in 10 say they have a preference, less than five in 10 have discussed their wishes with their family. What about you? According to a recent study by McCrindle, nearly 90% of Australians aged 50 and over said they’d prefer to live out their days in their own home, even though most admitted to not having given much thought to …

Planning for the unplanned in retirement

Planning for the unplanned in retirement It’s important to prepare for unexpected illness that could throw your retirement plans off course. When you close your eyes and think about retirement, what comes into your mind? Lounging on a pristine beach in the Whitsundays? Enjoying a croissant in a café on the Champs Elysees? Kitesurfing on the bay? If you’re approaching the finish line, chances are that you’re getting proactive and eagerly preparing for life after …

Scaling down to retirement – tips and tricks

Scaling down to retirement – tips and tricks If you were scaling down to retirement, what would it mean to you? Would you draw a line in the sand where one day you’re working full-time and the next day a whole new world of recreation opens up to you? Or would you gradually reduce paid work and swap it for travel, hobbies, looking after the grandchildren or other things? I was speaking to a good …

What to look for on your super statement

What to look for on your super statement Super statements come but once a year (or twice with some funds). When yours arrives, it’s important to take a proper look because it could become one of the biggest assets you’ll ever have. Here’s our quick guide to what you should watch out for and why. 1. Personal details Check your name and address are present and correct. Not having the right details could lead to …

How much is really needed in retirement?

How much is really needed in retirement? In the UK in 2014, The Independent Review of Retirement Income (IRRI) was commissioned to look at retirement incomes. Two recommendations from IRRI were: The use of deterministic projections of the returns on products should be banned. They should be replaced with stochastic projections that take into account important real-world issues, such as sequence-of-returns risk (and) inflation. Quite a bit to digest. There is a broader discussion of …

Don’t allow a BoMaD to ruin your retirement

Don’t allow a BoMaD to ruin your retirement   What is a BoMaD and why should you care? The BoMaD – or Bank of Mum and Dad – is the 10th largest lending institution in Australia, ahead of ING, Suncorp and Bendigo Bank. It is estimated to be lending $65 billion per annum, according to a Mozo survey in September 2017. That’s right, $65 billion a year is being transferred from the pockets of Australian mums and …