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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

Retirement trap hurting saving Aussies

By Cameron Micallef · January 24 2020

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Retirement

Retirement trap hurting saving Aussies

By Cameron Micallef
January 24 2020

Reading:

Retirement trap hurting saving Aussies

By Cameron Micallef · January 24 2020

Reading:

Australians are being warned that they will need half a million dollars to escape the “retirement trap” of a reduced pension due to assets meeting certain thresholds, according to an industry expert.

According to BetaShares, retirees who lift their savings to between $350,000- $600,000 may ironically see their income diminish.

BetaShares senior investment specialist Dr Roger Cohen said, “Common wisdom tells us that accumulating more savings through our working lives should result in higher income in our retirement years.”

“However, our analysis shows that, for certain people, under the current system, accumulating more money can actually produce the reverse.”

The current retirement system in Australia sees retirees drawing income from a combination of superannuation, the Age Pension and external assets.

The pension is means-tested, with the level of entitlement calculated using an income test and an assets test. These entitlement levels and associated reduction in the pensions are the primary drivers behind the “trap”.

More specifically, for an individual, there is an income range between $174 and $2,026 per fortnight, where for every additional dollar earned, the pension is reduced by 50 cents. This effectively halves the value of additional earnings for retirees in this range.

“For a retiree caught in the ‘retirement trap’, additional assets are better off spent, or, if they are invested, must generate returns that are well in excess of 7.8 per cent per annum to exceed the pension entitlements that are lost,” Dr Cohen said.

“Unfortunately, such investments generally entail taking risk above levels, which are commonly recommended for retirees.”

“The transition from full entitlements to the Age Pension to no entitlements needs to be smoother. It is certainly an undesirable situation that for some people, more is not necessarily more,” he added.

“Without considering the eventual policy changes from the Retirement Income Review, our research shows that people in retirement can only escape the ‘retirement trap’ if they accumulate an asset base well over half a million dollars.”

nestegg has previously reported how Australia could be heading for a retirement crisis.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. 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 leverage their insights to grow your portfolio.