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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

Young Aussies buck advice trends as savings fear sets in

By Reporter · September 11 2018

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Retirement

Young Aussies buck advice trends as savings fear sets in

By Reporter
September 11 2018

Reading:

Advice, financial advice, savings, trends

Young Aussies buck advice trends as savings fear sets in

By Reporter · September 11 2018

Reading:

A new report has found that teenage Australians are already thinking about their retirement and are willing to pay more than their parents for financial advice.

The ING My Generation report, released today, reveals Australian teenagers have good financial intentions, with many (71 per cent) already considering how much they will need to be financially secure in the future.

The cross-generational research reveals, on average, Gens X, Y and Z think they’ll need between $1.5 million and $1.74 million each in savings (excluding assets) to retire. This is more than double the ASFA recommendation for a standard couple that own their home.

The research also found that financial advisers are the most trusted source for getting financial advice. This is especially the case for Gens Y and Z, with more than half of each generation saying so.

Baby Boomers and Gen X are turning to advisers to help them stay on top of their finances while the younger generations (Gens Y and Z) want assistance with longer-term goals such as family planning, buying a home and retirement.

The average amount Aussies expect to pay for an annual strategic financial plan delivered via face-to-face consultations is as follows:

• Baby Boomers: $315

• Gen X: $232

• Gen Y: $316

• Gen Z: $394

The research also reveals that younger generations (Gens Y and Z) have higher fee expectations for automated online advice tools when compared with Baby Boomers and Gen X, who on average expect to pay less than $85, while Gens Y and Z have indicated a preparedness to pay more than $195.

“Gens X, Y and Z are clearly thinking cautiously about retirement and are under no illusion that you can retire whenever you want without adequate savings,” ING’s head of retail Melanie Evans said.

“However, there seems to be a reluctance to make plans, and this could be because they’re just not sure where they can go for help.”

Research was conducted in July 2018 by Rice Warner with more than 2,000 participants aged 16 to 64.