"The first wealth is health"
Sadly that was one of my calls today.
‘Can I claim on my income protection plan ’ ?
Can you afford to retire?
Right now, the annual living expenses for a couple in retirement living a comfortable lifestyle is $61,522 according to the Associate of Superannuation Funds of Australia and for singles it is $43,601.
How to maintain your lifestyle needs when your term Deposit rates are falling.
an email i read today says
Former Morgan Stanley global strategist Gerard Minack says Australia is at risk of a ‘doozy recession, which would:
‘…drive cash rates to zero, 10-year bond yields to 1 per cent and the Australian dollar to US60 cents (as reported in The Australian Financial Review).
So if you are of my generation then the deposit interest rates that 76% of our generation rely on today to have a comfortable later years then a different perspective is required.
One reason many people worry about not having enough money in retirement is that they (quite reasonably) fear needing long-term care and not being able to afford it -- or having to wipe out their savings in order to pay for it.
69% will need long-term care.
A key thing to know about long-term care is that there's a good chance you'll need it.
Fully 69% of those turning 65 this year will need some kind of long-term care during their life, according to longtermcare.gov:
As always the answer is that depends.
It depends whether your parents have the means.
That means knowing what their income & assets are as your parents just as you & I are, are expected to fund their care if they can.
Your parents will have 4 possible fees that they may have to pay
Here Is A Little-Known Secret that Can Help You receive more of your aged pension by optimising your Assets & Income.
Yes Centrelink has changed the rules on defining your assets & income on 1st July.
The tests reduce the measurable value of lifetime income streams by 40% to the age of 84 & from then to 30% of the lifetime asset & income.
John Michael McAuliffe AFA, DipFp., BSc., DipTeach.