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16 May 2024
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Should you give your children their inheritance before you die? It's a thorny question asked more often as Baby Boomers in Australia grow older and die richer. Do they leave larger bequests or help buy the kids a home?
Until recently, there have been two major forms of retirement income streams available: account-based pensions and lifetime annuities. AMP may have broken new ground with a product that combines both streams.
Most people in retirement will have three financial goals in the decumulation stage to take account of the uncertainty of health, longevity and markets, and here's a framework to help.
Loss aversion means some people avoid annuities because a premature death may lead to a loss of capital, but lifetime annuities with death benefits aim to address this problem.
Annuities now come in different structures, overcoming many of the past objections. Despite low interest rates, they have become more popular with senior investors based on cash flow, social security and tax needs.
The superannuation industry has grappled with how to offer attractive retirement solutions, but lessons from overseas suggest some form of risk sharing to cover variable life expectancy will be needed.
The FSI's Interim Report observed that the retirement phase of super-annuation is underdeveloped and does not meet the risk management needs of many retirees. The most difficult of these risks to manage is longevity.
A reader sent in an excellent question on the merits of lifetime annuities versus long term indexed bonds for post-retirement income. Jeremy Cooper and Elizabeth Moran make the case for each.
The super industry has struggled to develop suitable post-retirement products to cater for increases in life expectancy. How would your own investing change if you knew you would live another 30 years after retiring?
Jeremy Cooper answers a question from one of our subscribers about the risk profile, regulatory standards and track record of lifetime annuities. If you have something to add, we invite you to join the debate.
Life annuities is a product with theoretical appeal but it does not gather significant market acceptance. These behavioural reasons need to be addressed before substantial increases in sales occur.
If you’re like me, you may have put money into term deposits over the past year and it’s time to decide whether to roll them over or look elsewhere. Here are the pros and cons of cash versus other assets right now.
How useful are the retirement savings and spending targets put out by various groups such as ASFA? Not very, and it's reducing the ability of ordinary retirees to fully understand their retirement income options.
Australia will have 3.7 million more people in a decade's time, though the growth won't be evenly distributed. Over 85s will see the fastest growth, while the number of younger people will barely rise.
There's been little debate on how spending changes as people progress through retirement. Yet, it's a critical issue as it can have a significant impact on the level of savings required at the point of retirement.
Recently, I compiled a list of ASX stocks that you could buy and hold forever. Here’s a follow-up list of US stocks that you could own indefinitely, including well-known names like Microsoft, as well as lesser-known gems.
The $3 million super tax will capture retired, and soon to retire, public servants and politicians who are members of defined benefit superannuation schemes. Lobbying efforts for exemptions to the tax are intensifying.