In this Australian Retirement Podcast episode, your hosts Drew Meredith from Wattle Partners and James O’Reilly from Northeast Wealth both spent the holidays in Bright – talking reducing mobility, extending the golden years, and coaching. Plus Grace’s bike crash and x-rays.
The government just announced financial advisers will no longer need an approved degree – reversing post-Royal Commission reforms. Pre-2019 it was a diploma, post-RC it was a finance degree, now it’s any degree plus required finance knowledge. Why the band-aid solution? Adviser numbers are collapsing: 28,000 in 2018, 22,000 in 2020, just 15,000 in 2026 – an all-time low and 46% decline. Red tape is outrageous, costs to deliver advice have ballooned (80% increase since 2019, with 320% increase in the financial advice levy), and there have been very few wins over the last decade.
The Boomer Briefing tackles the global recession threat with higher inflation – slowing growth, higher costs for groceries, travel, fuel. How do you manage a recession with higher inflation where costs are increasing, returns may fall, and you have a finite pool of capital? Australia is in one of the worst positions as a net importer.
If you’re retiring today, should you be worried? Drew and James explain recession vs. crisis, why you can’t “wait until everything settles down,” and how markets rebound on outlook.
Plus TermPlus questions: “If you could implant one belief into every retiree’s brain on day one, what would it be?” and “If every Australian family had one conversation before someone turns 70, what’s the topic?”
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