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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets 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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Retirement

Freewheeling retirees are ‘flying solo’ with finances

By Grace Ormsby · November 12 2019

Reading:

Retirement

Freewheeling retirees are ‘flying solo’ with finances

By Grace Ormsby
November 12 2019

Reading:

Freewheeling retirees are ‘flying solo’ with finances

By Grace Ormsby · November 12 2019

Reading:

Australian retirees are seemingly unequipped to plan for their finances in retirement or even coordinate such a plan with their life partner, a new study has revealed.

Research from Franklin Templeton has revealed that less than 25 per cent of Australian retirees are working with a financial adviser to plan their retirement and generate income in retirement.

It’s despite nearly half of those surveyed believing that a financial adviser is important for such purposes.

The “flying solo” approach extends to closer family relations, too, with only 54 per cent of retirees with a spouse or partner indicating they had coordinated their retirement planning with them prior to retiring.

According to Franklin Templeton, it reflects “a potential lack of forethought when it comes to this important transition”.

Weighing in on the findings, the head of retail for Franklin Templeton in Australia, Manuel Damianakis, was encouraging of individuals taking a strong personal interest in their retirement finances, but warned against the “flying solo” approach.

He noted that 81 per cent of those retired have never developed a written retirement income plan and only 43 per cent have a strategy to generate income for retirement that could last 30 years or more.

And, despite the individual approach being taken by a majority of Australians, it’s not being reflected by their actions: the research revealed that just half of retirees check on their savings once a month or more.

A further one in three retirees admitted to Franklin Templeton that they don’t have a strategy, instead just spending what they need to each year and hoping it will last.

It’s a method Mr Damianakis would caution against.

He commented that “given ongoing market volatility and protracted low interest rates, it would be unwise for retirees to adopt a set and forget approach to their savings and investments, and this is often where those working without professional advice become unstuck”.

“As an industry and as a society, we need to navigate a better path where all retirees can access professional advice and still feel they have sufficient self-management and control.”

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.