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15 August 2022
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Banks are awash with cash and are turning away deposits while reducing rates. Retirees who rely on their savings for income should not expect a respite until at best 2024 and are encouraged to turn to risky assets.
Hybrids are riskier than term deposits but investors are rewarded for the risk. Here is a simple way to consider if the reward is sufficient as the hybrid approaches an expected call date.
With cash and term deposit rates at all-time lows, and fixed interest bonds not much better, investors are looking for ‘bond proxies’ to deliver more income. But is ‘proxy’ a misnomer, and what are they anyway?
Government bonds produced good returns last year, but at the current starting position of lower rates, the cost of defensiveness is probably a limited payoff.
The wholesale market, accessible for retail investors via managed funds (including ETFs and LICs) offers better cash yields than bank term deposits but at a higher risk. This risk can be managed via a diversified portfolio .
Leaving a term deposit to rollover automatically at the end of each term will almost certainly guarantee a worse return than if you read the rollover letter and do some research instead.
Following the recent cash rate cut, it seemed unusual for banks to then increase their term deposit rates, while only passing on a fraction of the cut to borrowers. What's behind this change in bank strategy?
Keeping superannuation savings in term deposits will protect the capital but doesn't optimise the retirement outcome. There are many alternatives that should provide higher sustainable income over the long term.
A recent change to banking regulation has significant implications for term deposits. With 31+ day break or notice clauses becoming more common, a large difference in deposit rates is expected.
Despite rates of only 2-3%, term deposits and cash accounts are still the mainstay of most personal investment and SMSF portfolios. Next time you receive that renewal letter, stop and think about your options.
Both term deposits and managed bond funds can play a role for investors who want relative capital security and reliability of income. Despite their obvious differences, they are really apples and apples.
* Better and cheaper availability of wholesale funding for major banks will reduce retail term deposits rates, as CBA takes its foot off the gas.
Amid thousands of comments, tips include developing interests to keep occupied, planning in advance to have enough money, staying connected with friends and communities ... should you defer retirement or just do it?
Retirement is a good experience if you plan for it and manage your time, but freedom from money worries is key. Many retirees enjoy managing their money but SMSFs are not for everyone. Each retirement is different.
Investing is often portrayed as unapproachably complex. Can it be distilled into nine tips? An economist with 35 years of experience through numerous market cycles and events has given it a shot.
A new standard argues the majority of Australians will never achieve the ASFA 'comfortable' level of retirement savings and it amounts to 'fearmongering' by vested interests. If comfortable is aspirational, so be it.
Billionaire fund manager standoff: Ray Dalio thinks investing is common sense and markets are simple, while Howard Marks says complex and convoluted 'second-level' thinking is needed for superior returns.
If you feel fear when the market loses its head, you become part of the herd. Develop habits to embrace the fear. Identify the cause, decide if you need to take action and own the result without looking back.