I still recall viewing the white & grey images beamed back to us on earth.
Certainly a moment in time.
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.
I researched today for a client & a term deposit on the platform was 1.95%.
That as I studied & taught in maths is approaching Zero.
So do you you have to reduce your lifestyle when just maybe you have another decade of health to enjoy.
Yes the deeming rate has been reduced & now Centrelink assumes or deems that you might earn 3%.
Do you?
• Yes you can as there are alternatives to term deposits & remember even term deposits aren't immediately liquid.
e.g Capital UK Residential Property Fund III opportunity
§ High rental yields by global standards (6 - 7% p.a. gross yields)
§ Low borrowing costs (less than 3% p.a.), with interest rates near all-time lows, delivering a positively geared investment
§ Average house prices in the U.K. (outside of London) are trading at 5-6x individual income (compared to 11-14x in Melbourne, Sydney or London)
§ British Pound is trading around multi-decade lows
§ Market prices are now typically well below rebuild costs
PS closes 31 July 2019
• There is also another possible solution to improving your Centrelink position as there have been significant changes to income streams under the asset test.
e.g. A capital guaranteed solution for life which is designed to protect outliving your money.
Houston you might want to take a different perspective to your income needs.
You & I read
‘Door open to more rate cuts
RBA leaves open the prospect of further rate reductions in coming months if job conditions don’t improve.’
As others do contact John McAuliffe to model & optimise your future lifestyle.
It could be worth overcoming your inertia.
