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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Saturday, 23 November 2019

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The business case for raising Newstart

By Cameron Micallef · October 24 2019

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Earn

The business case for raising Newstart

By Cameron Micallef
October 24 2019

Reading:

The business case for raising Newstart

By Cameron Micallef · October 24 2019

Reading:

Raising Newstart would have the benefit of reducing the poverty gap for unemployed people and giving them better resource to find work while also having a positive flow-on effect for the national economy, according to new research.

The University of Adelaide has outlined that the sector of underemployed and unemployed Aussies are causing significant drag on the economy, with a lack of rewarding work resulting in a reduction in household consumption and consumer confidence.

An increase in the Newstart Allowance (NSA), deployed alongside a variety of other schemes, including sponsored work and training, would see more people able to access lucrative and rewarding work, which would ultimately benefit the economy, it found.

The research considered that in the long term, this would not only benefit the economy but consequently reduce the reliance on services such as the NSA.

The university indicated that the NSA is no longer substantial enough for jobseekers to subsist on due to the Howard government’s decision to benchmark NSA to inflation rather than wages.

The ratio of NSA to federal minimum wage (FMW) is now only 37.5 per cent.

“If the relativities between Newstart and average weekly earnings had stayed the same, the Newstart allowance would now be $347 and $356 per week for males and females, respectively, compared with the current rate of $278 a week,” associate professor of economics at the University of Adelaide Michael O’Neil outlined.

Underemployment and unemployment also mean a loss of human capital, a decrease in tax revenue, and an intensification of social problems.

“An increase of between $80 and $120 per week would be justified on the basis of equity for the recipients and in reducing the poverty gap many Newstart recipients face, while it would also help the unemployed to be better resourced for finding paid employment,” Professor O’Neil continued.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.