Are the costs of accommodating and financing your adult children at home adversely affecting your retirement savings? Supporting family is important, but so is setting up your own comfortable retirement.
Tag Archives | retirement savings
The financial concerns of those in or close to retirement are focussed on health and housing. Lower interest rates, rising healthcare costs and lifespan uncertainty legitimately compound those concerns.
New research shows a rapid increase in the proportion of retirees expecting to outlive their savings, and those not yet retired are worried about markets and not saving enough.
Although the proposed changes to superannuation might be worryingly detrimental to retirement outcomes, super will remain the most tax-effective retirement saving vehicle for the majority of people.
One problem with defining a single and universal purpose of superannuation is that people have contributed to super for years, even decades, with different ideas and intentions.
More wealth and better education levels mean SMSF trustees have a longer life expectancy by 2-3 years. They should be financially prepared and save for for those extra retirement years and beyond.
The Grattan Institute’s recent paper on reducing costs associated with superannuation is a reflective read for all executives and trustees of super funds in Australia, but is it the time right for these changes?
Serious illness is something we think will happen to somebody else and insurance, like making a will, is easy to put off. It’s only when the problems start that we realise it’s too late to do anything about it.
Bernstein’s 2014 booklet is a simple recipe for young people starting on an investment journey. It aims to help establish the savings discipline needed to set the millennial generation up for a comfortable retirement.
It is unfortunate that super funds and financial planners spend far more time considering investment risk than mortality risk. In future, retirement savings must last much longer, and a study of mortality risk shows how long.