As you get closer to retirement, you may be faced with a choice: whether you can afford a modest or comfortable retirement. But what is a comfortable retirement, and are you likely to be able to afford one?
While school teaches children many valuable lessons, it’s becoming apparent that not nearly enough time is dedicated to teaching our kids about money. Think about the last time you heard a child come home from school saying “today I learnt how to read a bank statement”. Probably never.
With important new deeming rules coming into effect on 1 January 2015, now is the time to review your superannuation and pension arrangements to ensure you don’t miss out on valuable Social Security entitlements.
Australia already has record-low interest rates – but in a recent speech, Governor Glenn Stevens noted that there is still scope for further rate cuts. So could rates fall further? And why have they stayed so low for so long.