How many Australians need a comfortable retirement amid a cost of living crisis?

All Australians want to enjoy a comfortable retirement, with new recent figures showing exactly how much money you’ll need. The Association of Super Funds Australia (ASFA) has claimed that single Aussies need a minimum of $545,000 to lead a “comfortable lifestyle during retirement”. This goes up to $640,000 for a pair. Australian investor Natasha Etschmann … Read more

Inflation, interest rates: CPI rises to 6.8 percent in August

The rising cost of fruits and vegetables has helped inflation in Australia remain at its highest level in 30 years, new data shows. The Australian Bureau of Statistics’ new monthly inflation measure showed that the pace of price increases reached 7.0 percent in July and slowed slightly in August to 6.8 percent. Rising construction costs … Read more

US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Average annual income for working Australians revealed at $92,000

Despite the sheer number, Australians earning less than $92,000 a year are now considered below average income. This is because the latest earnings report from the Australian Bureau of Statistics revealed that the average full-time worker earns $1769.80 per week, or $92,029.60 per year (before taxes). Once you factor in overtime, penalties, bonuses, and commission, … Read more

Australian inflation is expected to hit a 30-year high this month as costs rise

The pain Australians are experiencing will hit hard before the end of the month, when inflation is expected to hit a 30-year high. The pain will continue next month for Australians hit hard by a cost of living crisis with no end in sight. Consumers and businesses are now well aware that bills will rise … Read more

Mortgage stress hotspots in Sydney revealed as interest rates rise

Mortgage stress is mounting alarmingly, with seven Sydney suburbs feeling the heat the most as interest rates continue to rise. An increasing number of Aussie homeowners are dealing with mortgage stress, with residents of seven Sydney suburbs in particular feeling the pinch of rising costs of living and interest rates. There are fears that a … Read more