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Tuesday, 25 January 2022
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The Intergenerational Report is an opportunity to talk about ways to a better future, but it is not the one outlined in the paper. It has too many generous assumptions while the budget will always be in deficit.
Every five years, we receive a snapshot of what Australia may look like in 40 years. We will live longer with more spending on health, pensions and super but with fewer workers. Where will 40 million people live?
In 1961, Australian women had 3.5 children on average but by 2018, this figure stood at just 1.7. Falling fertility creates a shift in demographics and the ratio of retirees to working-age people.
One silver lining from changing COVID-19 societal behaviours is an unexpected pickup in Australia’s natural population growth rate, with early-stage pregnancy ultrasounds pointing to a baby boom ahead.
Population decline is a new, yet largely ignored, trend with underrated economic and social costs. Much of the growth that drives economies, especially in Australia, comes from population increases.
Understanding demographics is vital for successful planning and investing for the future. What is happening on population growth, ageing, natural increases, immigration and our role in Asia?
As we approach the 2020s, we are sailing into uncertain waters at best. These times also have some historical precedents, but we need to make important reforms before our luck runs out.
The investment opportunity in listed ‘real assets’ in Australia is almost $250 billion. Offices, roads, warehouses, airports, pipelines and shops are the foundation of economic growth.
Agricultural management and investment has become sophisticated as the world needs more food and fibre, and it not only about the environment but improving the economic returns.
Real assets such as airports will benefit significantly from a massive growth in Asian tourism and a growing middle class, and are less subject to the vagaries of the business cycle.
Economic growth and interest rates affect housing prices, but political decisions around zoning, migration, and taxes are also strong influences. Overall, the current climate suggests a much slower growth in house prices.
Urban growth poses many challenges. The way we live and interact as a society, especially in growing cities, will continue to evolve including the way we shop, how we move around and how land is redeveloped.
Most people entering retirement do not see a financial adviser, mainly due to cost. It's a major problem because there are small mistakes a retiree can make which are expensive and avoidable if a few tips were known.
Eligibility for the Commonwealth Seniors Health Card has no asset test and a relatively high income test. It's worth checking eligibility and the benefits of qualifying to save on the cost of medications.
The focus is on Magellan for its investment performance and departure of the CEO, but Douglass says the pandemic, inflation, rising rates and Middle East tensions have not played out. Vindication is always long term.
This is our annual checklist of what retirees need to be aware of in 2022. It is a long list of 25 items and not everything will apply to your situation. Run your eye over the benefits and entitlements.
The Warren Buffett/Charlie Munger partnership is the stuff of legends, but even Charlie admits it is coming to an end ("I'm nearly dead"). He is one of the few people in investing prepared to say what he thinks.
Depending on personal circumstances, it may be time to rethink the bias to paying down housing debt over wealth accumulation in super. Do the sums and ask these four questions to plan for your future.