A lack of knowledge about superannuation is restricting Australia’s retirement savings, with many pre-retirees unaware of potential savings. This gap in the market represents a significant opportunity for advisers.
Getting the 8 in 10 Australians who don’t ‘get’ advice to see it differently is no small feat. Advertising alone won’t cut it – storytelling is the key, and with the Your Best Interests series we created with the AFA has reached nearly 2 million in just a few months, the journey has begun.
Does any business owner really want to be limited to the word small? Vanessa offers words of encouragement and inspiration on thinking big from Australian greats such as Lindsay Fox and Maggie Beer.
Defining good financial advice can be difficult. Too often, clients believe that a good return on their investment relates to good advice, and too often financial planners perpetuate this myth.
As an investor, weaving through the large amount of available investment options can be time consuming and stressful. There is a lack of investor understanding about how funds are set up, structured and managed, which can leave people feeling vulnerable when they are trying to wade through the range of opportunities, particularly as some investments are emotively driven. It can feel like Dorothy when she first sees the Wizard of Oz without knowing what is really happening behind the curtain.
How do you continue to grow your wealth after you retire?
When it comes to retirement planning, it is crucial to make the most of the opportunities one has to grow one’s wealth. And because retirement planning is primarily about creating enough of a nest egg to cater for the years when we aren’t working, it is important to have an investment that generates an income that will at least keep pace with inflation so your standard of living doesn’t diminish.
Australia’s attitude to retirement is stuck in the past. To create the retirement we all want and deserve, we need to fundamentally rethink the way we approach it.
As a retired business coach I have a tried and tested framework for assessing the likely success of a new business. That framework is based on the owner’s analysis of and ability to penetrate the market the business would operate in. I would ask questions like; “What product or service are you offering?” “Who wants or needs it?” “Who are they purchasing from now?” “Why would they buy it from you?”
The Investment Series brings into focus the many strategic considerations needed in planning for retirement. We join Bruce Hein, who is looking for realistic long term investments which will carry him through his retirement. We now outline some areas for consideration in regards to investing goals for retirees.
One of the positives to come from the Intergenerational Report is that women’s participation in the workforce will increase. What a rich seam of wonderful employees on which to draw.
No More Practice Education Pty Ltd
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