We are all living longer, fuller lives, and for many people retirement may now span almost as long as our working careers. We are at a tipping point, with a huge number of baby boomers set to retire and a global pandemic changing the landscape.
The statistics paint a concerning picture, with the average Australian set to outlive their money by 11 years.
Click here to read Kate and Tony’s story, and how they plan on their retirement funding to last the distance.
If you’re feeling the heat of mounting bills, don’t panic. You can negotiate a better deal that lets you hang onto your cash while you weather the COVID-19 pandemic.
Household electricity, gas, and water use have all jumped by upwards of 15% - meaning that many of us are facing hefty bills on top of lower than usual income. I
If you need to rein in your spending, or you’re struggling to pay your debts due to ongoing financial hardship, you can negotiate a better deal.
Click here to read more on your options, how to negotiate with creditors, and what to do if you are still in debt.
The linked article takes a look at what Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital, sees as the nine keys to being a successful investor, and what impact the coronavirus shock has had on them.
Even in good times, successful investing can be stressful. For this reason, it’s useful for investors to keep a key set of things - call them rules - in mind.
The key rules are:
make the most of compound interest;
don’t get thrown off by the cycle;
invest for the long term;
diversify;
turn down the noise;
buy low and sell high;
beware of the crowd;
focus on investments offering a sustainable cash flow; and
seek advice.
Please click here to read further.
Is lockdown fatigue getting the better of you? If you’re dreaming of a beachside holiday, you might be wondering if it’s safe to make travel plans.
With summer on the horizon and the country stuck in various levels of lockdown, many of us will be craving a change of scene.
Click here to read more on planning travel now and into the future.
In 2020, COVID-19 has introduced significant health risks and changes to family life. It’s now more important to have an estate plan so that you can make sure your family and loved ones are looked after should you become ill and die.
Click here to read more on what an estate plan is, Powers of Attorney, how to make a Will, and what happens if you don’t have a Will.
As COVID-19 continues to damage Australia’s economy and impact the job market, it’s becoming increasingly clear that the pandemic is presenting many people with significant challenges.
Click here to read Beyond Blue’s chat with Laura Higgins, head of moneysmart.gov.au, about why getting on top of your finances is so important for mental wellbeing.
It’s a confronting thought, but elder abuse is more common in families than in aged care facilities. The most likely form is financial, and it often results from well-intentioned plans that go wrong. Click here to read on some ideas on how to help your family avoid the pitfalls.
The coronavirus pandemic has raised many questions around finance and money, but some questions still remain unanswered. Click here to read the seven most frequently asked questions, and the responses which may help you navigate your finances.
With divorce rates rising among couples aged 55+, more people could find themselves going it alone in retirement. Click here to read about the pros and cons for your lifestyle and finances, and Dianne Kemp’s experience of planning for retirement after divorce.
Diversification is an oft-heard term when reading about investing, but what does it actually mean, and how can it benefit you?
Essentially, it’s about not putting all of your eggs into one basket. Click here to read about this investment strategy that lowers your portfolio’s risk and helps you get more stable returns
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.
Click here to read more about ethical and socially responsible investment options available, and their different approaches to investing.
The current surge in gold prices is leading to a record high. The US dollar is falling, and the Australian dollar is rising. The key points of the attached note are as follows:
The US dollar looks to have peaked, in part reflecting reduced safe haven demand with more downside likely.
The gold price has broken out to a record high, reflecting a declining US dollar, investors demand for an inflation hedge and a fall in the opportunity cost of holding gold. More upside is likely.
The Australian dollar has broken higher, reflecting the declining US dollar, along with higher commodity prices and it’s likely the trend will remain up.
Click here to read more
Share markets in March fell faster and deeper than at any time since the 1930s, yet the US S& P 500 Index closed the June quarter about 20% higher than it began, its best quarter run since 1998. Over the same period, the global and Australian share markets also recorded double-digit gains, and are now not far off their mid-February highs.
Click here to read the thoughts of MLC’s Chief Investment Officer.
This economic and fiscal update is the first since December’s Mid-Year Economic and Fiscal Outlook when budget surpluses looked just around the corner. Since then things have changed dramatically due to the hit from coronavirus and necessary support measures from the Government.
The key points are:
The Government expects the federal budget deficit to peak at a record $184.5bn this financial year. That’s around 9.7% of GDP, its highest since the end of WW2.
Ultimately, we expect it to be around $220bn as the Government unveils more stimulus & revenue recovers more slowly than projected by the Government.
The budget and associated debt blowout is unlikely to cause a major problem as public debt is relatively low, borrowing costs are very low, the Government is borrowing in $A’s & it’s not dependent on foreign capital. Letting the deficit rise is the right thing to do.
Click here to read more
Much like exercise and eating well, your financial wellbeing is key to living a happy and healthy life. Financial wellbeing is often overlooked as one of the pillars of good health, but it’s every bit as important as your physical, mental and emotional health. So what is financial wellbeing and how can you improve yours?
Click here to read more
The impact of COVID-19 has shone a light on a weakness in household finances. Whilst it would have been difficult to anticipate the pandemic and the subsequent government response of a nationwide shutdown, many lack emergency funds to manage through a disruption to their income.
Click here to read why women are most hurt by financial pandemic, and the factors that contribute.
The economic impact of the COVID-19 pandemic is playing havoc with finances for many households.
Click here to read about 5 ways to limit the impact at this challenging time.
Come July 1, the annual tax window opens again. Property investors may have access to a wide range of tax benefits, but tax is a complicated matter. It pays to be across the details.
Click here to read more on how you could maximise your return, and what to watch out for
When you’re looking for advice on your finances, it can be hard to know where to turn. Counsellor, adviser, planner? A simple internet search can be enough to make your head spin.
Click here to read about the differences between them, and find out which one may be applicable to your situation
As lockdown restrictions begin to east Australia-wide, a new normal is emerging for businesses and employees. Click here to explore the roadmap out of lockdown, and what lies ahead for our finances