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Once bitten, twice shy? GFC concerns linger for seniors

Seven out of 10 Australians aged over 50 are worried about the potential for another global financial crisis (GFC) and the impact it could have on their retirement savings.

The latest National Seniors Australia (NSA) survey revealed that 10 years on from the GFC, concern among older Australians is still strong. 

A quarter of seniors surveyed said they would not be able to tolerate any annual loss to their retirement savings.

The 'farewell career'

If you’ve retired and are regretting the decision, the aged care sector could offer a new opportunity, writes National Seniors’ Chief Advocate Ian Henschke.

Australia’s population is ageing. The fastest growing demographic is the 85+ cohort, which is expected to quadruple by 2050. Recent studies also highlight that more than 90 per cent of older Australians plan to remain in their own homes for as long as possible.

Back to the future: the rise of mature age interns

Peter Brady was 68 when he decided to start the transition to retirement. His plan was to switch from full-time work to casual contracts so he’d have more time to spend with his family and to study.

However, the former CEO of Autism ACT soon hit a snag: age discrimination.

“I found if I submitted my full CV, I wouldn't get an interview," he said.

Death can be costly

Sydney is the most expensive capital city in Australia to hold a funeral with the average service now costing $8,357, up 10 per cent on last year and well above the national average of $7,449, new research has shown.

Perth was in second place with $7,584 and Brisbane in third on $7,505, according to comparison website finder.com.au.

At the other end of the spectrum, the cheapest city for a funeral service in Australia was Hobart, at only $6,832 on average.

Two clicks could help taxpayers find lost super

The Australian Taxation Office (ATO) is urging all taxpayers to take a few moments to check their super while they are using ATO online services through myGov.

Deputy Commissioner James O'Halloran said tax time was the best opportunity for taxpayers to check their super. If they were going online to lodge or check the progress of their return, all they needed to do was click the super tab on the home page.

Taxpayers could find super they had forgotten about.

Another good reason to give up smoking

New research has shown smokers are at much greater risk than non-smokers of suffering from a form of irregular heart rhythm known as atrial fibrillation, a condition that causes one third of strokes in Australia.

The international study, which includes data from Australia, has found that for every 10 cigarettes smoked a day, the risk of atrial fibrillation rises by 14 per cent.

Chronic wound cases expected to soar

Australians over the age of 65 are being urged to seek health care advice about chronic wounds during Wound Awareness Week (15-21 July 2018).

Chronic wounds were alarmingly common and cost Australia’s health system an estimated $3 billion each year, Wounds Australia’s Anne Buck said.

Wounds were defined as cuts or breaks in the skin that didn’t show signs of healing within 30 days or kept recurring. The number of sufferers was expected to soar due to Australia’s ageing population because people aged 65 and over were most at risk.

More Australian tourists prefer Japan

More Australians are travelling to Asia, new research has shown.

Over 2.3 million, or 11.4 per cent of Australians aged 14 and over, were intending to travel to Asia in the next 12 months, nearly double the 1.2 million (7.2 per cent) in the year to March 2008, Roy Morgan Research said.

A strong driver of the increase was the growing proportion of Australians now planning to travel to Asia in the next 12 months, with Indonesia the most popular Asian destination.

Bring your fur friends inside

If your dog lives outside the house, consider bringing him or her indoors – at least while most of Australia shivers through some of its coldest winter weather in decades.

Pet products company Petsafe® said dogs felt the cold just as humans did, even more if they had never experienced such cold temperatures.

“We are urging pet owners to bring them inside at night while temperatures are so cold to help them avoid hypothermia,” Petsafe’s Zarqa Ali said.


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