According to the recent ACCC’s Retail Deposits Inquiry Final Report cash account holders would appear to be getting a bad deal but are able to do little about it. Not only are banks confusing and overly complex in their cash account offerings, but comparison websites are also open to commercial influences when offering details on cash rates. Today’s summary will help you understand what to look for when investing in cash.
Treasury’s recent discussion paper on the ‘Retirement Phase of Superannuation’ has drawn attention to the way that many retirees view and respond to the government mandated superannuation withdrawal rates. Today we explain how these rates work and how you can use them as a guide, rather than a recommendation.
Whether you are in retirement, about to start your retirement journey or planning for the future here are five simple steps to reach your goals now and in the future.
Step 1: Set your goals
Step 2: What will this lifestyle cost?
Step 3: Get your finances in order
Step 4. Get a forecast of what you will realistically be able to afford
Step 5. Check if you need to make any trade-offs?