According to a recent ‘Super Shortage’ study, for Australians to live the retirement lifestyle they aspire to from 65, their savings will last just five years. With the average life expectancy of Australians being 82.5 years old, this creates a super shortage of 12.5 years.
From 1 July 2018, most Australian taxpayers will enjoy a tax cut. There are three major phases, the first of which applies to the next four fnancial years until 30 June 2022. Low and middle income earners will beneft the most with the introduction of the Low and Middle Income Tax Offset.
So… is the tightening of credit and tough lending criteria a good thing or a bad thing? It depends on which side of the fence you sit on doesn’t it? Let’s have a look.
Research shows about 20% of retirees are spending their super at ‘unsustainable’ levels. What does that mean? It means about one fifth of us will most likely outlive our retirement savings. This percentage is predicted to rise as more of us enter retirement! Recent research shows 54% of pre-retirees (55 and over) are financially unprepared for retirement and only 8% are financially prepared.
Congratulations! There you are in your cap and gown, degree in hand. This is what you’ve been working towards these past few years. So… what’s next? Completing tertiary study can be both the most exciting AND daunting time of a graduate’s life. Some may head off for post-study travel (read our article about ‘debt lag’!) but for most, graduation marks the transition to their chosen career and first step into the ‘real world’.
Australians LOVE a holiday and while overseas travel is high on the list for many of us we are also blessed with an abundance of fabulous holiday destinations in our own backyard. For some of us, when we find a piece of paradise on home turf the lure of our own holiday hideaway is strong. Be honest! Have you ever checked out real estate prices at your favourite holiday spot?
A 2017 report found that about 52% of people aged between 25 and 64 can expect a ‘comfortable retirement’. On the flip side that leaves over 47% of us (or 5.1 million people) unlikely to have enough put aside to live comfortably in our retirement years.
Coffee is an essential part of daily life for many of us with caffeine often referred to as ‘the world’s most popular drug’. You only have to look around at the explosion of cafés and coffee trucks over the past 20 years to gauge its popularity. If you’re a traveller you will know coffee in Australia is some of the best in the world and our baristas are often seen as world leading in their profession.
Aussies are a nation of international travellers. In fact, during 2016 a record breaking 10 million residents left Australia to travel overseas on a short term basis. That’s 41 out of every 100 of us! We often hear people say “no matter where you travel overseas you’ll run into an Australian”. You can see why!
