Two significant retirement income changes became law on 1 July. With most of the attention firmly focussed on changes to Age Pension and deeming thresholds, they were easy to overlook. But they could, over the longer term, definitively change the way...
Ten ways to save on your bills You may already be an enthusiastic budgeter. Or you may be a spendthrift. Either way, as prices head skyward, it’s always helpful to keep your household expenses as low as possible. Today we share how to save money in the ten...
Another rate rise - Is it time to rethink cash? Last Tuesday the Reserve Bank Governor Philip Lowe announced a 50-basis point increase in the official cash rate, raising it from 0.85% to 1.35%. This increase is the third in three months, following those of...
Tax rules for retirees Thursday marks the end of financial year 2022. Or the EOFY as it’s now commonly known. Many people assume – incorrectly – that retirees who don’t earn income don’t need to file anything. This is not true. There are two points to make...
One of the major myths about retirees is that they don’t work. This is the opposite of what’s really happening. Many retirees are still in the paid work force, albeit working fewer hours. Just as many others are beavering away doing volunteer work. In fact...
This week we turn to the fourth pillar of retirement income – private savings. As we reported in our other story this week, a significant proportion of Retirement Essentials members (71%) reported that they are accessing private savings or investments as...
Can you beat inflation? - Highest price rises in 20 years Last Thursday, the long awaited Consumer Price Index (CPI) update for the March 2022 quarter was released by the Australian Bureau of Statistics (ABS). The graph below shows it all – a sharp spike in...
With last week’s headline inflation announcement of 5.1% per annum, it has become a matter of time before the Reserve Bank (RBA) responds by increasing the underlying cash rate of 0.1%. It’s no longer a question of if, but when. Rates will almost certainly...
Make sure your money lasts The most outstanding feature of Australia’s retirement income system has to be its complexity. During their working lives most people have managed just one source of income – their salary. If they have investments, this money...