Along with a raft of legislative change, the Australian Securities and Investments Commission (ASIC) has also introduced new licensing requirements for accountants who work with and advise Self Managed Superannuation Fund (SMSF) Trustees. Only approx. 10% of accountants have complied with these changes to date.
As such if you, as many, consider your accountant would be your 1st port of call for Financial Advice, they will likely advise you, they are unable to provide the information you require & should consult a qualified Financial Adviser / Planner.
This is general advice only and you should seek expert financial advice from a qualified financial adviser before acting on any of the information covered in these topics.
The Baby Boomers are retiring.
The Australian Bureau of Statistics (ABS) has released some interesting new statistics
-Baby Boomers were born between 1946 and 1964.
-Over the next decade, it is imperative that systems are put in place to assist in transferring the Baby Boomers unique talent, knowledge & skills to the younger generations.
-4/5 of Australian firms are concerned about the skills shortage that will take place as the Baby Boomers retire according to a survey conducted across Australian companies by recruitment firms.
-By 2030 approx 20% of the Australian workforce will be over the age of 65.
-Further it is estimated that 90% of Baby Boomers will be retired by 2030.
-Time is of the essence to get appropriate skill & training systems in place to deal with this significant demographic shift.
Remember that the Stock Markets is a manic depressive – Warren Buffett