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Sunday, 23 February 2020
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Retirees worry about running out of money, and living solely on the age pension is viewed differently from spending their own money. But in retirement, many report adjusting well to what they have.
Super is reducing reliance on the age pension for the majority of people entering retirement. Most newly-retired Australians are not accessing the age pension at all, and only 25% of 66-year-olds are drawing a full age pension.
With the availability of large pools of retirees, the law of large numbers will start to see a predictable distribution of lifespans around the mean, allowing for longevity risk products. An important development.
The National Seniors Australia (NSA) survey reveals that retirees want access to regular and stable income, even at the expense of lower returns. The need to preserve capital reduces tolerance of losses.
Life expectancies have increased dramatically since the nineties, but the uncertainty is forcing retirees to live too frugally. The super industry is switching its attention to the drawdown phase to find better solutions.
As Cuffelinks celebrates five years of publishing, I have chosen five of my favourite articles over that time, all of which deal with the ‘retirement income challenge’ one way or another.
An investment with any fund manager should be part of an asset allocation decision, but what happens when your equity manager decides to do a major switch to cash? It messes up your plan.
If billions of dollars of retirement savings were lost by a government agency in a national super scheme, the cost and risk would be passed back to the government and ‘caveat emptor’ would be history.
We tend to call any change a 'disruption', but the vast majority of so-called disruptive technologies are variations on a theme. Many innovations are really high-risk, low-probability investments.
The best way to preserve your SMSF’s favoured status is to make sure the fund’s annual return reaches the ATO on time. There are new rules this year that every SMSF trustee should know.
Arguments between segments of the super industry do not foster public confidence. SMSFs are suitable for many who seek control of their own financial destiny, but it's not a competition.