$1m does not make you rich, Australians sayBY MARK SMITH | MONDAY, 15 FEB 2016 12:25PMA fifth of those with a household income of $200,000 are living pay-cheque to pay-cheque and having $1 million does not make you rich. Related News |
Editor's Choice
Janus Henderson acquires NBK Wealth, Tabula Investment Management
Janus Henderson has acquired the wealth management arm of the National Bank of Kuwait, NBK Wealth, as well as European ETF provider, Tabula Investment Management.
ART names advice and education leads
Australian Retirement Trust (ART) has revamped its advice, guidance and education team and created two new leadership roles.
Men, women in same occupation drive pay gap
A whopping 80% of the gender pay gap can be attributed to women being paid less than men within the same occupation, a new economic analysis shows.
Macquarie Group profits falls 32% to $3.52bn
Macquarie Group has reported a net profit of $3.52 billion for the year ending 31 March 2024, a 32% decrease from the previous year.
Products
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
Unfortunately what having $1m in super now does is that it disqualifies you from the Seniors Health Care card, therefore giving you the dubious pleasure of paying much more for your health costs and missing out on discounts offered to other seniors.
Also self-funded retirees miss out on "compensation" offered to others, including on the now hopefully dead and buried proposal to raise the GST, which would have been a 5% impost on our cost of living.
The constant threats of more changes are also worrying, including the proposal to tax earnings on super backing income-streams, whereas if we withdraw the money and invest elsewhere and earn less than the threshold we will pay zero tax.