Superannuation and self managed super funds are growing, expanding fast actually! Expect some financial insufficiencies when you stop working if you did not take care of your retirement while you're still employed.
While a lot of people have lost trust in australia's superannuation system, primarily because of slacking share market and a slowing global economic system, there are great signs that the superannuation industry would be going strong over the next several years.
A strong progress for the superannuation industry in Australia is predicted to start this year which will continue each year for the next decade. This is in line with the economic indicators that were seen by the experts.
This prediction is strongly supported by the research conducted by DEXX&R, a reputable financial service research firm. Their latest market report is predicting that the total superannuation market will have an average annual growth 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.
Although 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 effect 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 a lot of people have lost trust in australia's superannuation system, primarily because of slacking share market and a slowing global economic system, there are great signs that the superannuation industry would be going strong over the next several years.
A strong progress for the superannuation industry in Australia is predicted to start this year which will continue each year for the next decade. This is in line with the economic indicators that were seen by the experts.
This prediction is strongly supported by the research conducted by DEXX&R, a reputable financial service research firm. Their latest market report is predicting that the total superannuation market will have an average annual growth 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.
Although 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 effect 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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