『S4 E31 The 5 money questions you need the answer to when you hit your 50s』のカバーアート

S4 E31 The 5 money questions you need the answer to when you hit your 50s

S4 E31 The 5 money questions you need the answer to when you hit your 50s

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You signed off a six-figure budget at work this week. You have not opened your own super statement this year. If the money conversations at the barbecue make you nod along while a small voice says you should know more, this episode is for you. Phoebe walks through the five money questions every woman in her 50s needs to be able to answer, with the real Australian numbers behind each one, and why this decade is the one where you close the gap between being capable and being prepared to hold money. In this episode Somewhere between $3.5 and $5 trillion is moving from the baby boomer generation to the next one, the largest transfer of wealth in Australian history, and up to 65 percent of it is expected to end up in the hands of women. Many of the women receiving it are educated, experienced and successful, yet they have never been the decision maker on the big money. Someone else did the investing, met with the planner, knew where the paperwork was. Phoebe shares the story of Annette (a composite, so don't go looking for her), a 56-year-old senior consultant who felt like the work experience kid in her own life the day an inheritance landed, then works through the five questions that turned that around. Chapter guide [00:00] Why your 50s, and the wealth transfer heading towards women[00:02] Annette's story: capable is not the same as prepared[00:03] Question one: where will I live, and who owns it?[00:06] Question two: what are my super and my investments doing?[00:08] Question three: how does the work end?[00:10] Question four: what happens if illness arrives, mine or someone else's?[00:12] Question five: what am I doing with this one wild life?[00:14] The five questions recap and your one action for the week The framework: The Five Questions Where will I live, and who owns it? Every retirement benchmark assumes you own your home outright. Know your mortgage payoff date, and whether it lands before or after your income stops. If it lands after, that is a design problem, and design problems have solutions.What are my super and my investments doing? Doing, not just what they are. Log in, know your balance, your investment option, your fees and your binding death benefit nomination. Then map everything you own outside super and what each thing is there to do.How does the work end? Write down the age you would like work to become optional, and the one thing that would need to change to make that date real. If you own a business, remember that most owners never sell; a sellable business takes years to build.What happens if illness arrives, mine or someone else's? Check the insurance sitting inside your super, plan for the possibility of caring for someone, and get the paperwork of protection in order: will, powers of attorney, beneficiary nominations.What am I doing with this one wild life? A woman who reaches 65 can expect, on average, to live into her late 80s. That is a whole second adulthood, and it is the first one you get to design on purpose. When you know what the money is for, you stop avoiding it. The numbers in this episode (confirmed figures) $3.5 to $5 trillion in intergenerational wealth transfer over the coming decades, with up to 65 percent expected to flow to women (Productivity Commission and industry research including JBWere and AMP)Age 52 to age 62: the shift in the median age Australians pay off the home, 1981 to 2016 (Retirement Income Review, 2020)Around half of home-owning Australians aged 55 to 64 still carry mortgage debt (AHURI)About two thirds of recent retirees own their home outright (HILDA Survey, 2023)$243,000: average super balance for Australian women aged 55 to 59 (ASFA analysis of ATO data)$630,000: ASFA's updated comfortable retirement lump sum for a single homeowner, alongside annual spending of roughly $52,000 (ASFA Retirement Standard, February 2026 revision)About a quarter less: the super gap for women approaching retirement compared with men the same age (Super Members Council analysis of ATO data)63.8: the average age of recent Australian retirees (ABS)3 million unpaid carers in Australia, average age 50; two thirds of primary carers are women, and women aged 45 to 54 are the group most likely to be carrying a caring role (ABS Survey of Disability, Ageing and Carers, 2022) Verified resources Moneysmart (ASIC): superannuation, retirement planning and the ASFA Retirement Standard explained, moneysmart.gov.auASFA Retirement Standard: superannuation.asn.auAustralian Taxation Office: contribution caps, carry-forward rules and downsizer contributions, ato.gov.auServices Australia: Age Pension eligibility and rates, servicesaustralia.gov.auCarer Gateway: support and services for unpaid carers, carergateway.gov.au Your one action this week Pick one of the five questions, just one, and write your current answer in a single paragraph. If your honest answer is "I don't know", write that down too. "I don't know" written on a page is the beginning of a plan. "I don't know" ...
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