We recently asked you to tell us more about the sort of help and advice you would like to receive. Well this is what you told us.
How much will I need?
- Nearly 39% of people ranked “How much will I need” highest among the financial issues on their mind.
- People were also concerned by how long their money would last and how much they could safely spend.
- Very few people prioritised “Where will the money come from” and a mere 3.8%, were most concerned about how much would be left when they died.
Help and advice
- The most popular topic for help and advice was “Strategies to increase my age pension entitlements”. 42% of people ranked this number 1.
- Help on how to invest savings and super was the next most popular choice.
- At the bottom was advice on home equity products and debt repayment. We were a bit surprised at how low the home equity topic ranked given the high levels of home ownership amongst our readers. Many comments indicated this actually was popular but just not a priority when compared to increasing entitlements.
Paying for advice
60% of people indicated they were likely to to pay for financial advice if it could help them with topics such as how to invest and strategies to increase age pension entitlements. Only 15% were unlikely to pay with the rest, 25%, sitting on the fence. Between $200 and $500 seems to be the sweet spot when you were asked how much you might be willing to pay.
Readers also offered lots of comments and suggestions including:
- When can I afford to retire and how do I convince my spouse to retire?
- More help and information on the impact of inheritances
- Help with managing diverse investments including shares and investment property
- Can you apply for the pension if one spouse is still working or much younger?
- Other benefits that you might get with the Pension concession card or the Commonwealth Seniors Health Card.
- Estate planning
- More online tools and calculators to help with planning
So what is next?
We asked these questions to help us improve our services. Over the next few weeks and months you will see us add more services in response to your feedback.
What do you think?
Do those results resonate with you or are you a bit surprised? Let us know what you think by commenting below.
Ps Help to increase your entitlements was a very popular topic. You can check yours by clicking here