At all stages of life we yearn for certainty – consciously or otherwise it provides comfort for the present as well as what lies ahead. It is a climate that is particularly significant as we approach or enter post-employment years.
Indeed much energy is expended in planning for retirement to provide that certainty.
Navigating aged care is a nightmare. Discovering how much it’ll cost if you’re a self funded retiree is even scarier. Lawyer Margaret Arthur does the sums.
If life were a pantry, aged care would probably be stuck on the bottom shelf somewhere behind the cider vinegar and dried mung beans. Somewhere out of sight and out of mind.
Past months have seen much attention on matters financial, revealing the impact of old and new on consumers. Interestingly, for all the advances in technology some old practices continue to present a great threat to vulnerable consumers.
Early work experience attracted me to the positives that competition can bring, whether in life, sport, business, even politics (okay, the latter can be hard to recognize). The positives rely heavily on a marketplace operating with equal power whether competing with a like participant or in pursuit of consumers.
Financial elder abuse runs the gamut from stealing jewellery to amending a will. Slater & Gordon solicitor Michael Clohesy describes this phenomenon, its detection and appropriate responses.
Treasurer Wayne Swan handed down his fourth federal budget in May. Despite dire predictions, the over 50s emerged relatively unscathed - no real nasties but no great wins. National Seniors Australia policy director, Dr Liz Curran, reports.
The Final Report of the Superannuation or Cooper Review was handed to Government in June.
At its heart, the Report aims to re-focus funds on the core purpose for which they exist, that is optimising retirement incomes for members.
Central to this aim is the MySuper proposal, a blueprint designed to make default funds cheaper and more efficient.
Sarah Saunders reports
Following discussions with National Seniors, the federal government has extended concessions on the minimum draw down requirements of allocated pension accounts into the new financial year.
For someone visiting our nation over recent times, ‘reform’ in all its guises has been the buzz word and has cast an ever lengthening impact of either lightness or darkness according to whom one talks!
The most important financial needs for Australian retirees are:
- meeting their medical expenses;
- having their income last for their lifetime; and
- making sure their purchasing power keeps pace with inflation.
Addressing these three goals provides peace of mind to senior Australians, particularly when their essential living expenses are covered by regular income.