Boat Loans Australia :: Articles
SHARE

Share this article!

Secretary, 85, seeks career change

Secretary, 85, seeks career change

You drive to the station.
On the way, you drop your daughter at school.
Her first lesson today is English.
Her teacher is 72 year old Mrs MacDuff.
You park your car and buy your weekly ticket from Alan, who has been at this station for 5 years.
Alan is 68.
At the next station, your good friend Margo gets on.
Margo works at your bank.
She is 74.
But she tells people she’s 69.
Before going up to your office, you buy a coffee.
You’re served by Ralph as usual.
Ralph has just turned 80.
You’re about to get in the lift when a young punk barges past, iPod blaring, and punches the Door Close button impatiently.
“Kids today have no breeding,” you think.
“Can’t be a day over 50 and he thinks he owns the world.”
You drive to the station. On the way, you drop your daughter at school. Her first lesson today is English. Her teacher is 72 year old Mrs MacDuff. You park your car and buy your weekly ticket from Alan, who has been at this station for 5 years. Alan is 68. At the next station, your good friend Margo gets on. Margo works at your bank. She is 74. But she tells people she’s 69. Before going up to your office, you buy a coffee. You’re served by Ralph as usual. Ralph has just turned 80. You’re about to get in the lift when a young punk barges past, iPod blaring, and punches the Door Close button impatiently. “Kids today have no breeding,” you think. “Can’t be a day over 50 and he thinks he owns the world.”

This could be a typical scene in a typical Australian city sometime in the future. And maybe not as far in the future as you imagine.

The Australian workforce is ageing - and doing it faster than the population as a whole. Faced with the massive cost of caring for an ageing population, the government will find ways to encourage organisations to hire more mature employees and will offer incentives to workers who choose to stay in the workforce until later in life.

Of course, for now at least, the government mightn’t have to do much at all to persuade people to postpone retirement. Lots of Australians in their late 50s or early 60s have already put off retirement plans as a result of GFC-fueled losses in their super savings.

It is time that legislation and attitudes changed so that we no longer view 65 as the age at which we leave the workforce.

From 1985 to 2005, the average age of full-time workers rose by up to 6 years, depending on business sector. The biggest jumps in age were recorded in education and health care. The sector with the oldest average age of employee is education. Surprisingly perhaps, some fairly strenuous jobs also have higher than average workers - mining and manufacturing, for example. So does agriculture, but farmers tend to stay on the job until they drop.

In 1900 New South Wales introduced the Aged Pension for men and woman over 65. Within a few years, it had been adopted throughout Australia.

The only problem with this plan was that few people lived long enough to become eligible for the pension. In 1910 the average life expectancy of an Australian was only 55.2 years for men and 55.8 years for women. So basically, if you defied the odds and lived a decade longer than you should have, the government would give you something to live on.

Today, the average life expectancy of Australian men is 77.6 years and 83.5 years for women. By 2030, a girl could expect to see 90 comfortably. In many countries the fastest growing age group is centenarians. The UK predicts 350,000 over 100 in the year 2058.

That’s a lot of telegrams from the Queen. So what does this mean as far as super is concerned?

First, our super savings are going to need to last 20 years or more if were going to be comfortably well off in retirement. There are plenty of calculators freely available to help you determine if your super savings will do that.

Second, we are going to need to think seriously about staying in the workforce beyond age 65. To do this requires some co-operation from employers. There are too many people made redundant simply because they no longer fit the youthful image that a business wants to project. Of course, age is never mentioned when they’re told they’re no longer required. Words frequently used include realignment, merger, downsizing and, these past couple of years, the GFC has been a popular excuse. Some businesses are bucking the trend and recognising the value of wisdom accumulated over decades. However, as many mature job-seekers know, too many jobs are being given to fresh graduates.

The main reason isn’t that the hatchlings are better - but they can often be hired for less money. However, on the principle that you get what you pay for, perhaps more employers will come to their senses and help mature workers to keep working.

Third, we are going to need to adjust our understanding of super. For too long it has been compared with shares and property. The problem is that super just isnt as interesting as shares or property. You cant trade it. There isn’t much point in watching its movements day to day. You can’t live in it. Or negatively gear it. Or renovate it. And whilst super delivers respectable returns, it pales beside shares or property in their boom years.

Where super outshines shares and property is as a vehicle for reducing tax. In spite of government meddling, super still whips most other investments when tax is taken into account. Its other advantage is long term performance. Sure, property values in Australia seem to just keep rising - but many property experts reckon that a massive adjustment must take place sooner or later. And shares, well, when the going is good, they’re spectacular, but when things go bad, they are horrid.

Yes, were getting older. In 12 months to June 2009, the number of Australians over 65 jumped 3%. There has been plenty written about grey power. The problem is that whilst older people have the numbers they generally haven’t exercised their increasing power. And they should. One reason is that they’re likely to get a sympathetic reception from within the government. After all, government administration has one of the oldest workforces in the country.

Published:Monday, 30th Aug 2010
Author: 188

Share this article:


Boat Loans Articles

Expert Advice: What Lenders Look for When Approving Boat Financing Applications in Australia Expert Advice: What Lenders Look for When Approving Boat Financing Applications in Australia
When it comes to buying a boat in Australia, many enthusiasts turn to financing options to help make their dream a reality. Boat financing involves obtaining a loan from a lender to cover the purchase of your desired vessel. Whether you are a seasoned sailor or a first-time boat buyer, knowing what lenders look for during the boat financing application process can greatly increase your chances of approval. - read more
How to Avoid Capsizing Your Budget When Comparing Boat Loans How to Avoid Capsizing Your Budget When Comparing Boat Loans
The excitement of buying a boat and the role of right financing: The dream of sailing on the open seas or cruising through tranquil waterways can be incredibly enticing. The prospect of owning a boat opens up a world of adventure, relaxation, and luxury. However, much like navigating through uncharted waters, purchasing a vessel requires sound financial planning. Choosing the right boat loan is crucial in making this dream a reality without causing a financial shipwreck. - read more
How to Get the Most Value for Your Money When Buying a Fishing Boat How to Get the Most Value for Your Money When Buying a Fishing Boat
Investing in a fishing boat can be an exciting and rewarding experience, but it's important to make sure you're getting the most value for your money. There are several key factors to consider when buying a fishing boat, including your specific needs, budget, and financing options. It's also important to research boat brands and negotiate the sale to ensure you're getting a fair price. - read more
Setting Your Course: Fixed and Variable Rate Boat Loans Explored Setting Your Course: Fixed and Variable Rate Boat Loans Explored
The allure of the open waters is undeniable, and for many Australians, the dream of owning a boat is akin to the ultimate freedom. Whether it's for leisurely sails along the coast, fishing adventures, or simply the joy of the aquatic lifestyle, boats represent an escape from the everyday grind. However, the pursuit of this dream often comes with a significant financial consideration: boat loans. - read more
Escape the Loan Sharks: Avoiding Hidden Fees When Shopping for Boat Loans Escape the Loan Sharks: Avoiding Hidden Fees When Shopping for Boat Loans
Welcome to the world of nautical adventure, where the allure of the sea beckons many Australians to consider the freedom and enjoyment that comes with owning a boat. The image of setting sail on the azure waters is not just a dream; for some, it's a lifestyle choice that embodies exploration and relaxation. - read more
How to Improve Creditworthiness and Increase Chances of Boat Financing Approval How to Improve Creditworthiness and Increase Chances of Boat Financing Approval
Are you dreaming of purchasing your dream boat but worried about getting approved for financing? Ensuring you have a good creditworthiness is essential when it comes to obtaining boat financing. In this blog post, we will explore the importance of creditworthiness in boat financing and provide valuable tips on how you can improve your creditworthiness to increase your chances of getting approved for boat financing. - read more

Finance News

Australia Gears Up for Comprehensive Financial System Resilience Assessment in 2025 Australia Gears Up for Comprehensive Financial System Resilience Assessment in 2025
27 Mar 2024: .Paige Estritori

The Australian Prudential Regulation Authority (APRA) is positioning itself to inaugurate a widescale diagnostic of the nation's financial heartbeat in the year 2025. This financial health check aims to meticulously analyze the repercussions of unanticipated events on the country's financial stability beyond merely scrutinizing the banking sector. - read more
Climbing Mortgage Arrears Signal Heightened Financial Strain Climbing Mortgage Arrears Signal Heightened Financial Strain
26 Mar 2024: .Paige Estritori

Australian households are navigating a more complex financial landscape as mortgage arrears have climbed to a peak not seen since the outset of the COVID-19 pandemic, according to a new report from Fitch Ratings. The Fitch's Dinkum RMBS index has indicated that, as of the last quarter of 2023, households are falling behind on mortgage payments more frequently, sparking concerns about financial resiliency amid ever-tightening economic conditions. - read more
New Investment Approach for Australian New Homebuyers New Investment Approach for Australian New Homebuyers
25 Mar 2024: .Paige Estritori

Recent statistics have highlighted a notable shift in the strategies Australian first-time homebuyers are using to infiltrate the challenging property market. Analysis of 2023's purchasing trends indicates an emerging investor mentality among new buyers. - read more
Rentvesting Trend: First-Time Buyers on the Property Ladder. Rentvesting Trend: First-Time Buyers on the Property Ladder.
24 Mar 2024: .Paige Estritori

New insights from financial data show an intriguing pattern among Australian first home buyers in the recent year, with investment-savvy superstars choosing to become landlords right from the start. A striking one in five opted to dive into the property market, not for immediate residence but investment potential in 2023, indicating a significant shift in home ownership approaches. - read more
Australia Braces for Economic Shift as Rate Cuts Loom Amidst New Challenges Australia Braces for Economic Shift as Rate Cuts Loom Amidst New Challenges
21 Mar 2024: .Paige Estritori

Rising tensions within various sectors of Australia's economy signal a possible series of interest rate reductions by the Reserve Bank of Australia (RBA). Significant indicators, including increased unemployment rates, forecast a shift in monetary policies possibly leading to a period of lesser rates as experts observe a pre-emptive response to economic stagnation under the current administration. - read more
Steady Rates Persist as RBA Eyes Inflation Moderation Steady Rates Persist as RBA Eyes Inflation Moderation
20 Mar 2024: .Paige Estritori

In a recent monetary policy review, the Reserve Bank of Australia (RBA) has upheld the current cash rate at 4.35%, indicating a possible plateau in monetary tightening. This update aligns with widespread market analyses and fuels conversations about potential rate reductions in the coming year. - read more


Knowledgebase
Mortgagor:
A person who offers to assign an asset as security (e.g. real estate) under a mortgage loan contract. The lender (mortgagee) holds the legal ownership of the security until the loan is repaid and the mortgage is discharged.


Quick Links: | Boat Loan Rates | Boat Loan Brokers | Boat Loan Calculators | Boat Loan Quote