The ‘bucketing’ method of money management has been around for decades. But it shot to prominence when self-proclaimed ‘barefoot millionaire’ Scott Pape wrote about how easy it was, by using buckets, to get on top of your spending. But ‘financial bucketing’ is far...
It’s generally agreed that retirement is not a ‘set and forget’ proposition. On the one hand this can sound as though we need to continually monitor our situation. But the flipside of this is that it is literally never too late to change our settings and improve our situation. What do I mean by this? Simply that there are different trigger points and decision times across a full retirement journey. Knowing how these work is therefore key to making the most of your savings.
Today we look at three different retirement ‘ages and stages’ through the goals of a typical couple and consider some of the ways they might use a trigger point to rethink and reshape their retirement. These stages are:
Age 65,
Age 67 and
Age 75.
Recent findings about the Australian retirement income system show it has taken a small hit in world rankings. A small hit is not a catastrophe, but it does offer a cautionary warning that there may be better ways of helping retirees to help themselves. What are these findings? And how can they be used to improve the way the Age Pension and super combine?
The Mercer CFA Institute Global Pension Index 2024.
Mercer is a global financial services organisation which has conducted research for the Global Pension Index since 2009. It partners with the CFA Institute (Chartered Financial Analysts) to collect information from 48 different nations and analyse these retirement systems statistics for adequacy, sustainability and integrity. National retirement income systems can vary widely, so the Global Pension Index provides a very helpful ‘health check’ to participating nations – and their citizens. Dr David Knox has headed up the Mercer Index for 16 years and he generously shares his insights for Retirement Essentials’ members to better understand what these global rankings mean for individual retirees.