SMSFs: Are they worth the effort for average investors? The option of controlling your own financial destiny in retirement, by setting up a Self-Managed Super Fund (SMSF), appeals to many Australians. There are around 650,000 SMSFs operating in Australia, with over one million members and estimated assets of more than
How does Australia’s pension plan stack up? One in six people will be over 65 years old by 2050. With the world’s population ageing quickly, it is natural to think about how pension systems around the world will cope, particularly in Australia. Fortunately, Australia’s three-component retirement income system means our
Navigating the reality of divorce after 50 Adjusting to life after divorce, particularly later in life, is akin to navigating through some of life’s most challenging events, psychologists say. It’s a journey comparable to coping with loss, relocation, major illness or injury, or job loss. While these upheavals are often
The essential ingredient of a financial plan Here’s a recipe for a basic financial plan: Take one or more income sources and pour into a big pot. Add appropriate amounts of life, income protection and permanent disability insurance. Simmer for a few decades while slowly adding superannuation contributions and a
Does money bring happiness? The short answer is ‘yes’, but only up to a point. People in richer countries are, collectively, happier than people in poor countries. Within countries, people with higher incomes are generally happier than people on low incomes. Surprisingly, once basic living needs are met, the amount
The secret to ‘living the dream’ We all, to a greater or lesser extent, have an idea of our dream lifestyle. So how, as a nation, are we faring? To find out, the Financial Planning Association of Australia (FPA) commissioned a survey of more than 2,600 people from around the
Unlocking financial secrets for different phases of life One of the keys to financial success is to adopt the right strategy at the right time. As you move through the stages of life here are some tried and tested ‘secrets’ that will help you build and protect your wealth. Teens
How does Australia’s pension plan stack up? One in six people will be over 65 years old by 2050. With the world’s population ageing quickly, it is natural to think about how pension systems around the world will cope, particularly in Australia. Fortunately, Australia’s three-component retirement income system means our
Unlocking the Potential of Aged Pension and Superannuation Benefits The Australian Aged Pension scheme provides a wonderful safety net for those with limited assets in retirement, although many remain confused by how their age pension entitlements differ from so called superannuation income streams. The Federal Government provides an income for