The COVID-19 pandemic has shifted our day-to-day lives in a dramatic way. One of the biggest changes to come from this period, was a transition to working from home for many people.
When the coronavirus pandemic hit financial markets in March 2020, almost 40 per cent was wiped off the value of shares in less than a month. Understandably, many investors hit the panic button and switched to cash or withdrew savings from superannuation. With the benefit of hindsight, some people may be regretting acting in haste.
The new financial year offers an opportunity for taking an ‘out with the old, in the new’ approach, making a fresh start in relation to your financial affairs, it’s also a good opportunity to re-examine other aspects of your life. Imagine if you could change your habits, so you did not have to rely on willpower alone ever again?
Fears of a resurgence in inflation has been the big topic of conversation among bond and share market commentators lately, which may come as a surprise to many given that our rate of inflation is just 1.1 per cent. Yet despite market rumblings, the Reserve Bank of Australia (RBA) appears quite comfortable about the outlook.
As the new financial year gets underway, there are some big changes to superannuation that could add up to a welcome lift in your retirement savings. Here’s a summary of the changes starting from 1 July 2021.