Happy Australia Day. Newsflash 1: HSBC said Aussie typically expect to be retired for 23 years, but will run out of super after 10 yrs. The notion of retirement is becoming a nightmare for baby boomers. Newsflash 2: After super run out, retired people will go for government pension (or I call it broke). Current system for one person is AUD 427 per fortnight or AUD 647 for two persons. (Might be wrong, but heh, u wont get AUD 4270 per fortnight, so whats the different?) Newsflash 3: 70 years old retirement age, male life expectancy 85, female 89. But unless its couple, single female do worst in their retirement preparation. (NOT MY WORDS) Newsflash 4: Aussie shy away from annuities (financial products that guarantee a set of income for as long as u live) due to 0.3% of GDP yield, compare to 28.8% in Japan,15.4% in US and 40% in part of Europe. Newsflash 5: The way to counter all these problem is more QE in Europe, stimulus in Australia wide, more terrorists and unions. (Get out the here!) Newsflash 6: When central bank is printing toilet money into money pool, house and everything will inflate, or worst, deflate, which is a kind of cancer to anyones future. So, that conclude sth: dont play bonds, shares and mutual funds like all the financial planners, bankers, free lance economists out there advise u to. Newspaper specialists free advice is the worst thing u apply to can get ahead of life. Shares can be played, but unless we are not middle class, we WILL get slayed. What to do then? Try thinking this way: dont fight the giant, walk with the giant. How about going to a bank today and ask them this question: WHAT SHOULD I DO SO THAT U WILL LENT ME A MILLION DOLLARS? Its not that hard, u will be surprise what they will tell you.
Posted on: Mon, 26 Jan 2015 02:33:54 +0000
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