The number of Australians aged over 65 is expected to more than double in the next 40 years while the number of people aged over 85 is predicted to triple in that time.i Aged care funding and services have seen major changes in the years since the 2021 report of
More than half of us set a new financial goal at the beginning of 2025, according to ASIC’s Moneysmart website. While most financial goals include saving money and paying down debts, the months leading up to 30 June provide an opportunity to review your super balance to look at ways
Work out how long your super or account-based pension will last There are many variables that come into play when calculating how long your super or account-based pension will last in retirement, and it can be challenging to figure it out alone. If you’ve transferred your super to a pension
A good estate plan will help make sure your wishes are carried out when you die. It can also help if you become unable to make your own decisions. Estate plans An estate plan records what you want done with your assets after your death. It can include documents such
Review your investments regularly to make sure you’re on track to reach your financial goals and you’re comfortable with the investment risks. Find out how to review your investments’ performance and what to do if you’re not getting the returns you expect. Monitor your investments regularly How often you review
Hospital admissions can be distressing for individuals and costly for healthcare systems. Many of these admissions, particularly for older adults and those with chronic conditions, can be prevented through adequate support at home. Home Care Packages (HCPs) play a vital role in reducing hospital entries by providing tailored care that
Overview You can access your super early in very limited circumstances, including to pay certain expenses on compassionate grounds, as well as terminal illness, incapacity and severe financial hardship. For information on how to save money for your first home inside your super fund, see First home super saver scheme.
Periods of high volatility have forever been part of investing. But even seasoned investors might feel tempted to retreat to “safe” assets like cash during these times. While this approach may help you sleep better at night, it’s unlikely to be good for your financial well-being. Here’s why focusing on
Small changes in performance or fees can make a big difference in retirement. How often do you check in with your super? For younger Australians, the answer is likely to be “not very often”. Research by ASIC’s Moneysmart found that three in 10 millennials (aged 29 to 44) check their
How much tax you pay on retirement income depends on your age and the type of income stream. For most people, an income stream from superannuation will be tax-free from age 60. How super income streams are taxed Types of super income streams Income from super can be an: account-based
Investors with large cash holdings should keep an eye on falling deposit rates. Most of us have heard the saying, cash is king. It relates to the liquidity advantages of having an amount of cash readily available to cover off things such as everyday living costs, potential emergency expenses, or
More Australians are upsizing their super by downsizing their home. Home ownership is still the great Australian dream for many people. But, for a growing number of older Australians, it is also about selling the home eventually so they can use some of the proceeds to top up their superannuation
