Financial Insights & Updates - August 2020
Welcome to the August edition of Financial Insights and Updates.
In Australia, we are fortunate to be able to access the Age Pension should we need it. If you have ever wondered how Australia’s pension system fares in comparison with other countries, our article this month “Ranked: Countries with the Best and Worst Pension Plans” will provide you with some insight. The article uses the Melbourne Mercer Global Pension Index (MMGPI) which breaks it down into 3 universal components of Adequacy, Sustainability and Integrity. Australia rated an impressive 3rd place overall, confirming our good fortune to be in this blessed country.
Another great article included this month discusses the over 55’s retirement villages. From the social and capital benefits to the many fees that are incurred.
As customary, we have prepared other articles which we hope you will enjoy.
In signing off, please remember that we are always available to answer any questions or queries you may have.
The Team at Savanna Pride
Preparing for retirement in uncertain times
As most long-term investors know, investment markets have their ups and downs. The downs are usually associated with periods of uncertainty, perhaps due to political or economic factors, or even natural disasters. Uncertainty leads to volatility – more extreme movements in asset prices – which can have a big impact on portfolio values. This can be of particular concern if you are close to retirement and preparing for your last payday. So what can you do about it?... Read More
Five ways to recession-proof your business
Economies tend to face headwinds every ten years as the business cycle moves from periods of growth to contraction. While recessions are challenging for small and medium businesses across Australia, it doesn't mean there aren't significant opportunities to strengthen your business and come out of challenging times stronger and more profitable. In this article, we're sharing five ways you can recession proof your business... Read More
The tips, traps and costs of retirement villages
With an aging population, an increasing number of Australians are opting to live in retirement villages. While pitched at the ‘over-55s’, the average age of entry is 75, and average age of residents is 81. Depending on the retirement village, attractions include having home maintenance issues taken care of, more social contact, access to recreational facilities and on call assistance in case of medical emergency. Moving to a retirement village can also free up capital to support living costs in retirement... Read More
There’s more to shares than numbers on a screen
Whether it’s by direct purchase, via a managed fund or through superannuation, most Australians hold some form of share investment. Many of us are aware that if the numbers in the finance report on the evening news are mostly green that’s good and if they’re red that’s bad, but beyond that we give little thought to what shares are and why we should take an interest in them... Read More
Generational risk management
Personal risk management is a critical foundation stone of any financial plan. The key personal insurances are:
- Life insurance.
- Total and permanent disability insurance (TPD).
- Income protection (IP) insurance.
- Trauma insurance.
Each of these insurances play an important but different role in protecting you and your family from the financial consequences of death or disability, and the appropriate mix of cover depends to a large extent on where you are on your journey through life... Read More
Super savings for women
Ask any woman juggling career, home and family and she’ll tell you it’s a hard slog. Yet as retirement looms, dreams of enjoying the rewards of all that work are shattered as the retirement savings don’t support the vision. According to an inquiry into Women’s Economic Security in Retirement... Read More