Money Magazine November 2020

Prize worth winning Each month we’ll award one letter a 12-month subscription to Money magazine. Write to: Letters, Money, Level 7, 55 Clarence Street, Sydney, NSW, 2000 or email money@moneymag.com.au Lessons can be learnt from a game of chess Thank you, Phil Slade! Your article, “Loss hurts but don’t throw the game” (August issue, page 50), is one of the best things I have read in Money. Chess should be taught in school. I am going to put the article on my fridge for my young adult sons to read! Julie Ed’s note: Julie’s letter was originally a comment on the website version of Phil’s article and is published with her permission. Gender discrimination is alive and well Thank you, Susan Hely, for the article “Surviving the pink recession” (September…

The article “Safety first for the aged” (October issue, page 49), written by Susan Hely, struck a chord with me. My wife and I are in our 70s, both fit and well, and have a desire to stay in our own home for as long as possible. We live in a medium-sized country town where living costs are quite moderate. Susan’s article is excellent and looks at the options, and time constraints, in accessing government-funded home care. Our situation is different, but I am sure there are many in a similar position, where we are self-funded retirees with a level of assets above the pension limits and, I assume, above any limits with respect to obtaining assisted home-care packages when the time comes. The reason for staying in our present home is to avoid…

The article “Safety first for the aged” (October issue, page 49), written by Susan Hely, struck a chord with me. My wife and I are in our 70s, both fit and well, and have a desire to stay in our own home for as long as possible. We live in a medium-sized country town where living costs are quite moderate. Susan’s article is excellent and looks at the options, and time constraints, in accessing government-funded home care. Our situation is different, but I am sure there are many in a similar position, where we are self-funded retirees with a level of assets above the pension limits and, I assume, above any limits with respect to obtaining assisted home-care packages when the time comes. The reason for staying in our present…

When we first started compiling our annual “Where to invest $10k” cover story (page 32), we contemplated doubling the amount to $20,000. The original figure just didn’t seem enough with the current cost of living and average household debt levels. It seems serendipitous, then, that the federal government’s early access super scheme, a lifeline handed out to every working Australian immediately after Covid-19 struck, was the magic figure of $10,000. The government didn’t expect it at the time, but millions took up the opportunity to cash in their super even though research shows that a 50-year-old taking out $10,000 today would be $28,500 worse off at retirement. So we decided to stick with the original plan. How can you stretch $10,000 further into your financial horizon? Our experts gave answers that will…

Prize worth winning Each month we’ll award one letter a 12-month subscription to Money magazine. Write to: Letters, Money, Level 7, 55 Clarence Street, Sydney, NSW, 2000 or email money@moneymag.com.au Lessons can be learnt from a game of chess Thank you, Phil Slade! Your article, “Loss hurts but don’t throw the game” (August issue, page 50), is one of the best things I have read in Money. Chess should be taught in school. I am going to put the article on my fridge for my young adult sons to read! Julie Ed’s note: Julie’s letter was originally a comment on the website version of Phil’s article and is published with her permission. Gender discrimination is alive and well Thank you, Susan Hely, for the article “Surviving the pink recession” (September issue, page 51) and for highlighting how difficult it…

When we first started compiling our annual “Where to invest $10k” cover story (page 32), we contemplated doubling the amount to $20,000. The original figure just didn’t seem enough with the current cost of living and average household debt levels. It seems serendipitous, then, that the federal government’s early access super scheme, a lifeline handed out to every working Australian immediately after Covid-19 struck, was the magic figure of $10,000. The government didn’t expect it at the time, but millions took up the opportunity to cash in their super even though research shows that a 50-year-old taking out $10,000 today would be $28,500 worse off at retirement. So we decided to stick with the original plan. How can you stretch $10,000 further into your financial horizon? Our experts gave answers…