Stay the course: Five things to remember during uncertain times
Stay the course: Five things to remember during uncertain times
It’s tough being an investor right now. It’s even harder to be a retiree investor because retirees are generally more conservative than their younger selves. Let’s face it, most of us are feeling significantly poorer than we were 12 months ago. With the US share market off 16 percent since the start of the year, house prices falling for six consecutive months, and with the cost of living rising at levels not seen for 30 years, it’s no wonder that retirees might be losing confidence.
But this is not the first economic slowdown we have seen and it’s not the first market correction. Here are the five most important things for retiree investors to remember during uncertain times.
Economic update: Market ups and downs
The share market has started 2022 with a fizzle, falling more than 8%. It’s on the back of some concerning economic data. Inflation is higher than expected, which means interest rate increases this year now seem likely, and it appears omicron has dented business confidence.
So, what does this mean for retirees?
The Value of Good Advice
A research report from CPA Australia, CoreData and the University of NSW has put a value on the benefits of financial advice to Australian society. The comprehensive study found that the value of advice is $24,716 per person per year.