From the Desk of Andrew Corke Family photo August 2012 at ‘The Parthenon’ (Athens) On my recent overseas holiday I spent time in the ‘Eurozone’. I listened to and read a lot of commentary from the political and business leaders of its 17 associated countries. What I found most interesting is a proposal by famed investor George Soros that Germany must “lead or leave”. Please refer to the attached article to find out more! It appears that the outlook for growth in the world economy has softened over recent months and as a result the RBA, at its most recent meeting, has decided to lower the cash rate by 25 basis points to 3.25 per cent, effective 3 October 2012. This may be the time to consider a fixed rate? On home soil, there is growing debate about whether the access age for your superannuation should be raised from age 60 in light of increased life expectancy. Some are arguing that it should be increased in line with the latest access age for the Age Pension (now age 67). Please refer to the attached article to find out more! It would be remiss of me not to congratulate the Sydney Swans and Melbourne Storm on their respective premiership wins over the weekend. (It would also be remiss of me not to say ‘Go Collingwood in 2013’!!!) Please enjoy our October edition of the CWM Financial Advisers 'Monthly Update'. Warm Regards Andrew Corke |
This article has expired. The information contained within it is no longer reliable information. VIENNA — George Soros made headlines this week with a striking proposal that to save Europe, Germany must “lead or leave.” The leadership part was familiar: Outside Germany, at least, it is becoming conventional wisdom that Europe will survive only if the Union’s behemoth provides more decisive leadership — and writes bigger checks.
This article has expired. The information contained within it is no longer reliable information. The superannuation industry, economists and actuaries have urged the federal government to increase the age at which superannuation can be accessed, to avoid a $1 trillion shortfall in retirement savings.
The Institute of Actuaries, CAP Australia and the Financial Services Council say the gap between the superannuation “preservation age”, now 60, and the age pension age, now 65 should be narrowed. The Grattan Institute argues both ages should be increased to 70.
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