Residential aged care is playing an increasing role in helping many older Australians enjoy comfortable and carefree lives. However, one of the tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests.
Financial literacy is a fundamental life tool. Teaching our kids about financial management from a young age should be a high priority as this is now recognised as an important stepping stone to financial success.
Australia’s sharemarket is down more than 30% from its peak in February. Many investors are understandably left wondering whether they should stay in the markets or go to cash or something less risky. Some of your friends may be suggesting this or perhaps you heard it on the grapevine that this may be a good idea.
For previous generations of Australians, retirement usually meant ceasing work and hoping to live long enough to qualify for the age pension.
In the midst of the current market volatility we are experiencing, legendary investor Charlie Munger from Berkshire Hathaway sums it up best, “The big money isn’t in the buying and selling, but in the waiting.”