Number 1 rule, do not compare your situation to others... we all have different path in life. Just focus on your self and do what you can to achieve you goals. FOCUS and keep pushing, as long as you know you did everything to achieve your retirement dreams, then you don't have to worry if you have enough or not. Just LIVE, worry will only make you unhappy.
Patently false and dangerous comment. You NEED to educate yourself on how money, financing and investments work. The "she'll be right" attitude you are espousing is very dangerous and costly. Ignorance is no excuse and when you hit retirement you will be wishing you had learned how money works better.
There's NO way the Westpac "average savings" is right. The younger ages maybe, but as the age groups go up, I think that's what is held in their savings (cash) accounts. Most sensible people will put the bulk of their savings into an offset account and run a daily savings account for quick access cash, if their offset doesn't have a card attached.
I think you’re mistaking the average Aussie for being sensible, which is especially not true when it comes to money. I’m not trying to be funny about it either people generally don’t care for there future self, hence forced retirement savings ( super, 401k etc).
Im 30 and my super is at 70k so im planning to start a self managed super once it gets to 100k in about 2 years and put it into an investment property.
41 with 1.6 million net worth . Will be planning to retire soon but not in Australia . Going to move to Malaysia as living costs in Sydney is horrible combined with the increasing rental market costs is a big no for me .
I am screwed as I only have 16k left of my super, most of my life when I worked on the farm, super wasn't a thing. What I did get with other jobs got eaten up in fees, so my super is non-existent for when I retire.
I can guarantee that they will have negative returns at some point. Then they will have positive returns. It’s the way the market performs. You don’t realise the negative returns unless you sell when they’re low. But it’s not for everyone, especially if you can’t tolerate the fluctuations.
Working people are productive and increase the wealth of the nation. So the net wealth, even in real terms, will grow. Also, money is being printed, devaluing the dollar, so the numerical value of shares can only grow. So short term decreases are possible, but in the long run, the ASX can ONLY increase. For above 2 fundamental reasons.
500k net worth 35 yrs old , i would save more if alchoal & luxury cars werent tax to hell in australia just like fuel ! C63s tax $60000 less in my born country that 60k that could go towards investment
Number 1 rule, do not compare your situation to others... we all have different path in life. Just focus on your self and do what you can to achieve you goals. FOCUS and keep pushing, as long as you know you did everything to achieve your retirement dreams, then you don't have to worry if you have enough or not. Just LIVE, worry will only make you unhappy.
Patently false and dangerous comment. You NEED to educate yourself on how money, financing and investments work. The "she'll be right" attitude you are espousing is very dangerous and costly. Ignorance is no excuse and when you hit retirement you will be wishing you had learned how money works better.
There's NO way the Westpac "average savings" is right. The younger ages maybe, but as the age groups go up, I think that's what is held in their savings (cash) accounts. Most sensible people will put the bulk of their savings into an offset account and run a daily savings account for quick access cash, if their offset doesn't have a card attached.
I think you’re mistaking the average Aussie for being sensible, which is especially not true when it comes to money.
I’m not trying to be funny about it either people generally don’t care for there future self, hence forced retirement savings ( super, 401k etc).
Excellent content. Plus you have such a pleasant personality and wonderful camera presence
This is exactly what I was looking for... Thank you so much Ravi for giving us good financial advice 🙏
Im 30 and my super is at 70k so im planning to start a self managed super once it gets to 100k in about 2 years and put it into an investment property.
41 with 1.6 million net worth . Will be planning to retire soon but not in Australia . Going to move to Malaysia as living costs in Sydney is horrible combined with the increasing rental market costs is a big no for me .
I am screwed as I only have 16k left of my super, most of my life when I worked on the farm, super wasn't a thing. What I did get with other jobs got eaten up in fees, so my super is non-existent for when I retire.
But if you take your super as an indexed pension you will never run out of money if you have that option available. It's essentially for life.
Cracka video man
not many bank loan 80% of value for SMSF , what bank len
d can do using SMSF in australia
?
You forgot when pension comes in. After assets drops.
No one can predict the future, ETF/SHARES history looks good but future might be negative return?
I can guarantee that they will have negative returns at some point. Then they will have positive returns. It’s the way the market performs. You don’t realise the negative returns unless you sell when they’re low. But it’s not for everyone, especially if you can’t tolerate the fluctuations.
Working people are productive and increase the wealth of the nation. So the net wealth, even in real terms, will grow.
Also, money is being printed, devaluing the dollar, so the numerical value of shares can only grow.
So short term decreases are possible, but in the long run, the ASX can ONLY increase.
For above 2 fundamental reasons.
HaHAHAHA 😂hilarious! I will be working till I drop dead. 😩
I’m 22 and have 35k in liquid assets
If your young be the 1%er for your future not like the other 99% that are not!
💯❤️
500k net worth 35 yrs old , i would save more if alchoal & luxury cars werent tax to hell in australia just like fuel ! C63s tax $60000 less in my born country that 60k that could go towards investment