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.

Top seven areas to retire and build equity

Many retirees opt for a sea change or tree change when they give up work, looking for a place that suits their changing lifestyle, and will deliver long-term capital growth.

Many are retiring younger and are expected to live longer, so finding the right place that will build equity is extremely important to them.

RiskWise Property Research has identified seven regions that offer good lifestyle options, value for money and solid capital growth.

Seminar to help Sydney seniors plan their financial futures

Sydney residents can learn how to better fund their retirement at a National Seniors seminar at Parramatta on Tuesday, 27 March.

Co-presenter Basil La Brooy from National Seniors Financial Information Desk (FID) will be exploring ways to make the transition from work to retirement, take stock of resources, set financial goals and understand retirement income streams.

'Renovesting' the trend in 2018

Australia’s property market is set for single-digit growth, apartment oversupply and ‘renovesting’ in 2018, according to some property and economic commentators.

Graham Cooke of comparison website said interest rates were expected to change little until the second half of 2018, after the Reserve Bank of Australia (RBA) this Tuesday left the official cash rate on hold at 1.5 per cent at its final meeting of the year.

Financial advisers to meet new standards

National Seniors has welcomed a new authority set up to oversee the standards and ethics of financial advisers.

Former Chief Executive of National Seniors, Michael O’Neill, is one of three directors with consumer advocacy experience who have been appointed to the Financial Adviser Standards and Ethics Authority (FASEA).

The other five directors include three with financial services experience, an ethicist and an academic.

Interest rate cut bad news for retirees

This week’s interest rate cut is bad news for retirees, says the consumer lobby for older Australians.

The Reserve Bank has decided to lower the official cash rate by 25 basis points to 1.50 per cent.

National Seniors chief advocate Sarah Saunders said the decision was bad news for retirees.

“This cut will be a blow to anyone living off simple, low-risk investments”.

Saunders called on the Government to now adjust the social security deeming rates accordingly.

“Having fallen steadily since 2011, interest rates are sitting at all-time lows”.

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