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Tuesday, 19 October 2021
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Most people in retirement will have three financial goals in the decumulation stage to take account of the uncertainty of health, longevity and markets, and here's a framework to help.
Don replies to Peter. People saving for retirement should separate shallow and deep risk. Shallow risk, where prices fall, can be good in accumulation phase. Deep risk is a serious long-term deterioration.
Take investment risk in the early years when there is little financial capital at stake and lots of future earning potential, and follow a sort of glide path to reduce exposure to risk later in life.
You can only receive the full benefit of expertise if you're an informed consumer. Can you paint a picture of what your retirement success and failure looks like?
Life expectancy is not only uncertain, it’s also typically underestimated and misunderstood, particularly for a couple. It's vital for knowing how long your money must last.
Rather than compare results against APRA's benchmark, large super funds which failed the YFYS performance test are using another measure such as a CPI+ target, with more favourable results to show their members.
RBA Governor, Philip Lowe, says that surging house prices are not as important as full employment, but a previous Governor, Glenn Stevens, had other priorities, putting the "elevated level of house prices" first.
Two prominent fund managers with strongly opposing views and techniques. Cathie Wood thinks Tesla is going to US$3,000, Rob Arnott says it's already a bubble at US$750. They debate valuing growth and disruption.
Four key materials are required for battery production as we head towards 30X the number of electric cars. It opens exciting opportunities for Australian companies as the country aims to become a regional hub.
Estimating the value of a company based on a multiple of earnings is a common investment analysis technique, but it is often useless. Multiples do a poor job of valuing the best growth businesses, like Microsoft.
The ability to adapt to change makes a company more likely to sustain today’s profitability. There are five value chains plus a focus on cashflow and asset growth that the 'transition winners' are adopting.
At the start of COVID, the Government allowed early access to super, but in a strange twist, others were permitted to leave money in tax-advantaged super for another year. It helped the wealthy and should not be repeated.