Finance

Melbourne seminars help to boost financial know-how

Victorian members of National Seniors can boost their financial knowledge at seminars in Melbourne on Monday, 9 October.

National Seniors Financial Information Desk senior officer Basil La Brooy will be presenting information aimed at helping people understand their own situation and resources.

Topics include opportunities for those who will be fully self-funded in retirement, Government Income Support (GIS) and equity release products.

Another class action to target retirement village rip-offs

A second legal firm is calling on former residents of Aveo retirement villages to join a class action.

Maurice Blackburn Lawyers is seeking former Aveo retirement housing residents who paid departure fees from 2013 onwards.

The class action, which would be conducted on a no-win, no-fee basis, follows a joint Fairfax Media/ABC Four Corners investigation in June that revealed questionable business practices by the Aveo Group.

Seminars step up seniors' financial literacy

National Seniors is helping older people boost their financial literacy with two seminars later this month in Tasmania, where nearly one in five people are aged 65 and over.

National Seniors Financial Information Desk senior officer Basil La Brooy said 2016 census figures showed 19.4 per cent of the Tasmanian population was aged 65 and over, up from 16.3 per cent in 2011.

Australians too loyal for their own good

Australians are a loyal lot – but they are paying a heavy price for it when it comes to banking.

A new survey conducted by comparison website finder.com.au has found that 47 per cent of Australians stay with the one bank for their financial needs.

A total of 49 per cent of women surveyed said they were more likely to bank with only one lender, compared with 46 per cent of men.

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