The No-Regrets Guide to Retirement Newsletter
As the Federal Government's October budget highlighted, as bad as things are, they seem likely to get worse with economic economic growth set to stall, unemployment to rise and the cost of living to explode.
Growing geo-political unrest and rising inflation around the world are the two inescapable factors dragging down the domestic economy despite record receipts for Australian raw commodities.
As you will read in this month’s issue of The No-Regrets Guide to Retirement Newsletter, the Federal Government is doing its best to hold the line against inflation by limiting spending where ever it can.
As detailed in the article, The October Budget, the centre piece of the newly elected Government's first budget is to build a million new houses across Australia in order to address the nation's chronic housing shortage.
It will also reduce child care costs for young families, the price of pharmaceuticals and open up thousands of new fee-free places in TAFES and other vocational institutions.
However, the budget will do nothing to help struggling households deal with the mounting cost of living as interest rates continue to climb, energy prices rise and wages continue to fall in real terms.
While struggling households need to keep a lose eye on their budgets, older Australians need to be mindful to make sure they read the fine print when making investments.
Even when dealing with a reputable institution like the AMP, it is important when investing money that you read the fine print and ask questions so you are know exactly what will happen to your money.
The AMP is attempting to shake off the damage to its legacy sustained during the Banking Royal Commission and re-position itself as a powerhouse for those moving into retirement.
As part of this, it is releasing a new hybrid style pension product, which might some suit some retirees although it won't suit all. This article, Always Take A Close Look, explains will it be right for you.
Finally, and very much in a light hearted note, I ask the questions as to when should you keep your shoes on in the article Investors Should Wear Shoes.
It follows the release of a follow-up book to a very popular personal advice book that focuses on helping everyday Australians better manage their affairs.
It offers some sound advice as far as it goes but as you will read, there are times when you should be wearing shoes.
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