When you have to decide between pension and investment – and what to do
Retirement is not just about money.
It’s about being able to spend it.
It is about having the freedom to choose how to spend your money.
We asked the experts to give their advice.
Read more 1/8 Why are people worried about the retirement savings of young Australians?
A lot of people feel like they are being ripped off by the banks by investing in a mix of investments that have a lower return than a typical portfolio.
However, it’s important to remember that this is not the case.
Most people who invest their retirement savings are in the 10 to 15 per cent range, which means the returns are generally better than what the average investor is earning.
There is a reason why they call it the ‘investment universe’.
This is the investment universe of investments, including stock and bond market indices, ETFs and mutual funds.
2/8 Which retirement savings do you think is the most likely to be hit by the housing market downturn?
The median person who has a retirement savings nest egg is currently around $1.3 million, which is the highest it’s been in 20 years.
The average person with a nest egg of $100,000 would be around $150,000 short of that.
It also depends on the age of the person.
Age: This is one of the most important things to understand, and many people don’t realise how important it is to keep their nest egg as low as possible.
It means that if the housing price increases significantly, they may have a hard time saving.
3/8 What is the best way to save for retirement?
Investing is an investment and can help you make money over the long term.
However the right investment for you depends on your goals, the market and the investment environment.
Some people can save money on a daily basis and others are more focused on the long-term benefits of their investments.
For some people, it can be a very difficult choice between investing and saving.
But if you can combine your interests and goals, then investing can be the best option for you.
4/8 When should you start saving for retirement or when?
You should start saving now to start to get an idea of how much money you will need to live comfortably in retirement, as well as the types of investments you can choose.
It may be helpful to think about what your desired retirement funds are, before you invest.
5/8 Can you get a better deal from savings than you get from a mortgage?
Mortgage interest is a huge expense for many Australians.
You can usually find lower interest rates when buying a home than when renting.
However you can also save more money by using your savings to finance your mortgage.
If you can’t get a mortgage that is lower than the interest rate you would normally pay, then the best thing to do is to borrow money from family and friends.
You could then put it in a savings account.
This is known as a savings bond.
It provides an interest rate that’s lower than what you would pay on a mortgage.
6/8 How much do you know about investing?
Investopedia offers a wealth of information on everything from investment advice to how to choose the best index fund.
The website has more than 7,500,000 investment topics, which include everything from the best money-management tools to the best investment vehicles.
For the best financial advice, it is recommended that you check out the investment community.
For a wealth-building tool, Investopious has a wealth management calculator which gives you the information you need to understand how your money is going to grow.
7/8 Do you have any advice on how to get started with retirement?
There are so many things you can do to start investing.
You may be tempted to just buy a house.
However there are many things that you can invest in, that are not typically considered investments.
If the interest rates are lower than you’d normally pay on your mortgage, then there’s no reason why you shouldn’t consider starting saving instead.
You will be able to make more money, save more and have more control over your money over time.
A savings bond can help reduce the risk of paying down debt.
It can also be a good investment to use for emergencies such as a mortgage or car loan.
A mortgage bond is an alternative to a mortgage, but it’s more expensive.
It has a lower interest rate and typically comes with an additional clause that allows you to reduce your payments if interest rates fall.
If interest rates do fall, you may need to lower your mortgage payments.
8/8 Are there any things you would change about investing or saving?
Invest more in stocks and bonds, because that will give you a better chance of saving money over your lifetime.
If your job requires you to work part-time, you could also consider investing in the stock market to help you earn a living and save for a rainy day.
For people who are starting out with a business, investing