"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.
Read more: How to look after your grandchildren from a different perspective.
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.
Read more: How to maintain your lifestyle needs when your term Deposit rates are falling.
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
Read more: How much will I pay?’ is a common concern for your aged parents
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.
Read more: Here Is A Little-Known Secret that Can Help You receive more of your aged pension by optimising...
Read more: How to have an improved income if you want & need More & are struggling on the pension.
John Michael McAuliffe AFA, DipFp., BSc., DipTeach.