Owning your home in retirement is a huge aid to financial security. In a recent Your Life Choices post, Kaye Fallick wrote, ‘Owning a home is critical to your retirement affordability prospects’.
Most Australians don’t think they’ll have enough income from superannuation and investments to live a ‘comfortable lifestyle’ in retirement—according to an Essential Vision survey.
Education is undoubtedly one of the greatest gifts a parent or grandparent can provide or assist with. A good education sets a person up with the confidence to develop life-changing skills. It provides knowledge, an expanded vision of career options, and most importantly a group of friends and contacts that can last for life.
There’s a gap between what most people expect from a financial adviser and what professional financial advisers offer. And it can come in various forms. There can be a mismatch between the value of advice and what people expect to pay.
Short answer: no! But you should have a plan that will cover you in case you live to 95. At least, that’s what Robert Powell suggests in a USA Today report. Of course, if you knew when you were going to die, planning your finances for retirement would be so much easier. But, more than 30 years out, that doesn’t happen.
The latest global report on retirement from HSBC bank has a message about finances for those planning their retirement. Of course, being global means that not all the results are specific to Australia, but these four messages from the report are universal.