There is much more to think about than money when it comes to retirement.
When I was 19 I moved out of home for the first time (I did boomerang a couple of times). I was working full time but as an undergraduate accountant at a Big Four firm I was just scraping by. Most of my friends and I lived pretty much the same way: When you got … Continue reading What Money Habit Did Eating 2 Minute Noodles Teach You?
Sometimes choosing to do nothing can be good for you - it can even save lives. A paper by Eric Johnson and Daniel Goldstein titled Do Defaults Save Lives? examined the organ donation consent rates across European countries. In the table below you can see there is a significant variation between some of them. Why do … Continue reading When Choosing to Do Nothing is Good For You
"We are what we repeatedly do. Excellence, then, is not an act but a habit" – Aristotle We all have some bad habits when it comes to money. But there are not always easy to break - even if you realise how much better off you might be. One of the most commonly used examples for … Continue reading Breaking Bad Money Habits
This week it's been reported that Gen Y have the best saving habits in the nation. Now who said Gen Y were lazy and directionless? Both SMH and Smartcompany carried the news that the often maligned Gen Y are actually better savers than both Gen X and the Baby Boomers. These headlines were based on the RaboDirect … Continue reading Are Gen Y Really the Nation’s Best Savers?
"Life's tragedy is that we get old too soon and wise too late" Benjamin Franklin When I was 19 I started investing in shares. My grandfather was a lifelong sharemarket investor and he encouraged me to get me started. When I say lifelong investor I mean he bought and held forever - he hated selling. He … Continue reading Investment Lessons from my Grandfather
I have previously discussed what sort of retirement income is considered "modest" and "comfortable". You can find it here. The Association of Superannuation Funds Australia (ASFA) has just released their latest ASFA Retirement Standard for the June quarter. Related articles What Type of Retirement Will You Have? (davidjrae.com) How Much Money Do I Need in Retirement? (davidjrae.com)
Despite the Government recently passing legislation to increase the superannuation guarantee from 9% to 12% by 2019, many Australians are still likely to have inadequate savings when they reach retirement. While the increase in the superannuation guarantee will certainly help address the issue of superannuation adequacy, it will be of most benefit to those people … Continue reading What Type of Retirement Will You Have?
The aim was to get the budget back in the black at all cost and that was delivered. To do this some of the tax increases have been aimed squarely at higher income earners - namely: contributions tax increased from 15% to 30% for those earning over $300,000 reduced employment termination tax offset - possibly … Continue reading Federal Budget Update – Middle Income Super Savers to Suffer
How Your Super is Invested is a Huge Decision Do you know what your super is invested in? How much do you have in growth assets like equities? What about in defensive investments such as cash and fixed interest? If your investment mix is not right for your strategy, timeframe and goals it could cost you … Continue reading 4 Reasons Why Gen X and Gen Y Need to Start Thinking About Super