Superannuation and self managed super funds are raising, expanding fast actually! Expect several financial insufficiencies when you stop working if you did not take care of your retirement while you're still employed.
While many people have lost trust in australia's superannuation system, primarily due to a slacking share market and a slowing global economy, there are great signs that the superannuation industry will be going strong within the next couple of years.
There are many indicators pointing towards, and lots of analysts predicting that Australia's superannuation industry is expected to have strong expansion this year and should continue to show strong annual progress over the next 10 years.
This prediction is strongly supported by the research performed by DEXX&R, a reputable financial service research firm. Their latest market report is predicting that the total superannuation market would have an average annual expansion rate of 9.1% to $3.25 trillion by June 2022.
A progress of 8.6 % to $3.75 is also predicted in the over-all financial services market, which includes the post-retirement sector along with master trust sector, as outlined by study carried out by DEXX&R.
Though the perspective is positive, particularly over the 10 year period, it is important to recognize that the Future of Financial Advice (FOFA) reforms will have the potential to negatively impact predictions for the 2013 year.
The upcoming FOFA reforms provides the financial services industry with a tumultuous year while financial advisors adapt their business models and business strategies whilst these regulatory changes come into play.
The progress of the Australian superannuation market is unavoidable despite all the concerns. More individuals will retire than ever before and opportunities for wealth creation will because of the global financial slow down also grow.
It is your responsibility to deal with your super, and not merely an option that you could just ignore. Regardless of how old you are today, there's still a chance for you.
While many people have lost trust in australia's superannuation system, primarily due to a slacking share market and a slowing global economy, there are great signs that the superannuation industry will be going strong within the next couple of years.
There are many indicators pointing towards, and lots of analysts predicting that Australia's superannuation industry is expected to have strong expansion this year and should continue to show strong annual progress over the next 10 years.
This prediction is strongly supported by the research performed by DEXX&R, a reputable financial service research firm. Their latest market report is predicting that the total superannuation market would have an average annual expansion rate of 9.1% to $3.25 trillion by June 2022.
A progress of 8.6 % to $3.75 is also predicted in the over-all financial services market, which includes the post-retirement sector along with master trust sector, as outlined by study carried out by DEXX&R.
Though the perspective is positive, particularly over the 10 year period, it is important to recognize that the Future of Financial Advice (FOFA) reforms will have the potential to negatively impact predictions for the 2013 year.
The upcoming FOFA reforms provides the financial services industry with a tumultuous year while financial advisors adapt their business models and business strategies whilst these regulatory changes come into play.
The progress of the Australian superannuation market is unavoidable despite all the concerns. More individuals will retire than ever before and opportunities for wealth creation will because of the global financial slow down also grow.
It is your responsibility to deal with your super, and not merely an option that you could just ignore. Regardless of how old you are today, there's still a chance for you.
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