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Saturday, 18 September 2021
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Despite the maturing of the super system, 70% of retirees rely in part or full on the age pension. Access to pensions will become more restrictive and fewer people will have options such as a reverse mortgage.
The article by former leading super consultant, Don Ezra, on how he calculated how much to spend in his own retirement has been viewed over 12,000 times. We reproduce selected comments by readers on their own journey.
The first of five articles on modern retirement income products that aim for an increasing pension that lasts for life and on average should not decline in real terms. They are not silver bullets but worth a look.
There are many items in the 'too hard basket' for super. Remember the proposed Retirement Income Covenant? It required trustees to develop an appropriate strategy for members, and it's time to progress with it.
The 4% withdrawal rate in retirement is an industry standard, a level where a retiree could be confident of not running out of money. Its creator Bill Bengen explains its use in this interview with Michael Kitces.
It's often overlooked how wealthier couples can fall back on the age pension if a market loss hits their portfolio. The reassurance is never greater than in a financial (and now epidemic) crisis.
Retirees with between $300,000 and $800,000 in assets face complex questions on the interplay between how to spend their money, the age pension assets test, the taper rate and their longevity.
A study of actual spending habits shows retirees have a faster-than-expected drop-off in spending in later years, casting doubts on financial plans that assume increasing expenditure over time.
Antarctica is on many bucket lists, but planning for enough money in retirement should start decades earlier. Setting goals and seeking advice can elevate a comfortable retirement to a great one.
Many retirees simply drawdown the minimum amount allowed under the pension rules. While their money may last longer than using other strategies, is a frugal lifestyle the best way to live in later years?
The retirement review must consider the wide range of circumstances facing retirees. We cannot assume that everyone is a home owner, is single, will retire at the pension age and will live to 92.
Grattan has released a response to the above Mercer critique, with this short summary of their position and the longer paper attached. The coming retirement review will need to cope with such diversity of opinions.
Who knew? With some surprise results, the Government is on unexpected firm ground in asking people to draw on all their assets in retirement, although the comments show what feisty and informed readers we have.
It's a remarkable statistic. In any year since 1875, if you had invested in the Australian stock index, turned away and come back eight years later, your average return would be 120% with no negative periods.
Never stand between Australian households and an uncapped government programme with $3 billion in ‘free money’ to build or renovate their homes. But excess supply is coming with an absence of net migration.
Picking macro trends is difficult. What may seem logical and compelling one minute may completely change a few months later. There are better rewards from focussing on identifying the best companies at good prices.
The RBA Governor says rising house prices are due to "the design of our taxation and social security systems". The OECD says "the prolonged boom in house prices has inflated the wealth of many pensioners without impacting their pension eligibility." What's your view?
Some high-quality companies have emerged even stronger since the onset of COVID and are well placed for outperformance. We call these the ‘COVID Opportunists’ as they are now dominating their specific sectors.