The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It's so difficult for people who are retired and have no savings to fall back on.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment.Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you've got it all worked out with the firm you work with so i surely wouldn't mind a recommendation.
I've experimented with a few over the past years, but l've stuck with Kathie daisy bosco for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
One of my Aunties once said ' There should be a law against getting old!' As sarcastic as that comment is, gettin' old ain't fun. But, sadly, its a fact of life.
Hi Rui. Thank you for another great video. Much appreciate. If I change my super from accumulative phase to transition phase at age 60, does it affect my husband aged pension amount ? Thank you
Now home ownership is a pipe dream for many those means testing rules hit hard. Someone sitting in a million dollar house is comfortable that the home is not part of the means testing. Meanwhile, the renter, who has had to scrape funds for retirement in other ways, gets hit very very hard. And still has to pay rent, which is often more than the full pension pay out anyway. Ouch.
You’ve highlighted a very real and difficult issue. The exclusion of the family home from means testing does create a significant disparity, especially for renters who often face higher ongoing costs and less financial security. It’s a tough situation that raises important questions about fairness and equity in the system. Thank you for sharing your perspective-it’s an important conversation to have.
we the retired paid high tax for many decades to pay for that pension,, But because government after govt systematically squandered the money they were supposed to be using to pay for our pension its in jeopardy ; ; But on top the liberal; govt keeps giving out tax cuts ; those tax cuts are mostly to middle and high income earners with small cuts to low earners fooling them into voting for those cuts ; its a gimmick because every time the wealthy get a bigger cut and the filthy rich are now hardly paying any tax ; ;thats where our pension is going its propping up tax cuts for the rich who dont need it ; the Australian govt should be ashamed of themselves ;they followed the american route rather than the European route and for that the people who paid high tax for most of there working lives suffer
You’ve raised some powerful points, and it’s clear you’re passionate about this issue. Many share your frustration about how tax cuts and policy decisions can feel inequitable, especially for retirees who contributed so much during their working lives. The balance between supporting public services like pensions and managing tax policies is a delicate one, and your perspective highlights the importance of holding governments accountable. Thank you for sharing your thoughts-it’s a crucial discussion.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It's so difficult for people who are retired and have no savings to fall back on.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment.Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you've got it all worked out with the firm you work with so i surely wouldn't mind a recommendation.
I've experimented with a few over the past years, but l've stuck with Kathie daisy bosco for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
One of my Aunties once said ' There should be a law against getting old!' As sarcastic as that comment is, gettin' old ain't fun. But, sadly, its a fact of life.
Hi Rui. Thank you for another great video. Much appreciate. If I change my super from accumulative phase to transition phase at age 60, does it affect my husband aged pension amount ? Thank you
Now home ownership is a pipe dream for many those means testing rules hit hard. Someone sitting in a million dollar house is comfortable that the home is not part of the means testing. Meanwhile, the renter, who has had to scrape funds for retirement in other ways, gets hit very very hard. And still has to pay rent, which is often more than the full pension pay out anyway. Ouch.
You’ve highlighted a very real and difficult issue. The exclusion of the family home from means testing does create a significant disparity, especially for renters who often face higher ongoing costs and less financial security. It’s a tough situation that raises important questions about fairness and equity in the system. Thank you for sharing your perspective-it’s an important conversation to have.
Thanks Rui for another fantastic video! I still have a long way to retire 😂
Thank you so much! 😊 I’m glad you enjoyed the video. Even if retirement feels far away, it’s great that you’re staying informed and planning ahead!
we the retired paid high tax for many decades to pay for that pension,, But because government after govt systematically squandered the money they were supposed to be using to pay for our pension its in jeopardy ; ; But on top the liberal; govt keeps giving out tax cuts ; those tax cuts are mostly to middle and high income earners with small cuts to low earners fooling them into voting for those cuts ; its a gimmick because every time the wealthy get a bigger cut and the filthy rich are now hardly paying any tax ; ;thats where our pension is going its propping up tax cuts for the rich who dont need it ; the Australian govt should be ashamed of themselves ;they followed the american route rather than the European route and for that the people who paid high tax for most of there working lives suffer
You’ve raised some powerful points, and it’s clear you’re passionate about this issue. Many share your frustration about how tax cuts and policy decisions can feel inequitable, especially for retirees who contributed so much during their working lives. The balance between supporting public services like pensions and managing tax policies is a delicate one, and your perspective highlights the importance of holding governments accountable. Thank you for sharing your thoughts-it’s a crucial discussion.