The unexpected reasons Australians are retiring earlier than planned
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,620,822 (+0.21%)       Melbourne $982,926 (+0.06%)       Brisbane $1,009,356 (-1.26%)       Adelaide $923,788 (+0.47%)       Perth $903,798 (+0.06%)       Hobart $738,016 (-0.31)       Darwin $683,268 (-0.53%)       Canberra $947,837 (-2.13%)       National $1,048,958 (-0.25%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $771,811 (+0.48%)       Melbourne $498,317 (-0.21%)       Brisbane $604,029 (+0.74%)       Adelaide $473,315 (+0.11%)       Perth $484,865 (+1.36%)       Hobart $517,864 (+0.68%)       Darwin $369,303 (-3.27%)       Canberra $488,239 (+1.38%)       National $549,209 (+0.47%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 11,549 (+165)       Melbourne 15,638 (+59)       Brisbane 8,333 (+27)       Adelaide 2,369 (+5)       Perth 6,280 (+130)       Hobart 1,120 (-18)       Darwin 283 (-2)       Canberra 1,143 (+67)       National 46,715 (+433)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,757 (+153)       Melbourne 8,911 (+100)       Brisbane 1,776 (+43)       Adelaide 446 (+14)       Perth 1,475 (-13)       Hobart 196 (+8)       Darwin 355 (-7)       Canberra 1,092 (+19)       National 24,008 (+317)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $600 ($0)       Brisbane $630 (-$5)       Adelaide $610 ($0)       Perth $650 (-$10)       Hobart $550 ($0)       Darwin $730 (-$20)       Canberra $680 ($0)       National $665 (-$5)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 (-$1)       Melbourne $575 (-$5)       Brisbane $625 (+$5)       Adelaide $500 ($0)       Perth $620 (+$20)       Hobart $450 ($0)       Darwin $580 (+$30)       Canberra $550 ($0)       National $593 (+$6)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,780 (-41)       Melbourne 6,692 (-23)       Brisbane 4,278 (+31)       Adelaide 1,425 (+36)       Perth 2,283 (+7)       Hobart 265 (+12)       Darwin 90 (+11)       Canberra 474 (-38)       National 21,287 (-5)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,676 (-207)       Melbourne 6,557 (+72)       Brisbane 2,213 (-18)       Adelaide 389 (+14)       Perth 576 (-45)       Hobart 94 (-9)       Darwin 201 (+11)       Canberra 786 (-10)       National 20,492 (-192)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.57% (↓)       Melbourne 3.17% (↓)     Brisbane 3.25% (↑)        Adelaide 3.43% (↓)       Perth 3.74% (↓)     Hobart 3.88% (↑)        Darwin 5.56% (↓)     Canberra 3.73% (↑)        National 3.29% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.05% (↓)       Melbourne 6.00% (↓)     Brisbane 5.38% (↑)        Adelaide 5.49% (↓)     Perth 6.65% (↑)        Hobart 4.52% (↓)     Darwin 8.17% (↑)        Canberra 5.86% (↓)     National 5.62% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 28.6 (↓)       Melbourne 30.4 (↓)       Brisbane 31.2 (↓)       Adelaide 24.8 (↓)     Perth 35.7 (↑)        Hobart 29.4 (↓)       Darwin 37.5 (↓)       Canberra 29.6 (↓)       National 30.9 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 28.8 (↓)       Melbourne 31.2 (↓)     Brisbane 31.5 (↑)        Adelaide 23.1 (↓)       Perth 33.7 (↓)     Hobart 33.0 (↑)      Darwin 47.7 (↑)        Canberra 34.4 (↓)       National 32.9 (↓)           
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The unexpected reasons Australians are retiring earlier than planned

A new report reveals 710,000 workers plan to retire over the next five years

By Bronwyn Allen
Fri, Jun 14, 2024 7:24amGrey Clock 2 min

Australia has a community of 4.2 million retirees, with another 710,000 intending to retire over the next five years and 226,000 of them planning to do so over the next two years, according to the Australian Bureau of Statistics (ABS). One of the biggest generations in Australia’s history – the baby boomers – is in the midst of its retirement years today. The baby boom began after WWII, with boomers being born between 1945 and 1964, making the youngest of this group 60 years old today.

The average age at which today’s workers intend to retire is 65.4 years. However, the long-term historical average is more than eight years earlier, with the average age at which existing retirees left the workforce being 56.9 years. People working in agriculture, forestry and fishing have the latest intended retirement age of 68.3 years. This is followed by workers in property at 67.1 years and manufacturing at 66.1 years. Workers in the mining sector have the earliest intended retirement age of 63.7 years, followed by workers in IT at 64 years and financial services at 64.3 years.

One factor that may be prompting people to retire earlier than planned is unforeseen circumstances, such as job loss, personal sickness or injury, or the need to provide care for someone else. Among existing retirees, an ABS survey found 13 percent retired because of sickness, injury or disability. Another 5 percent retired because they were retrenched, dismissed, or unable to find employment. Three percent retired to care for an ill, disabled or elderly person.

For 31 percent of retirees, gaining access to financial support was the main reason they retired. The age pension is the biggest source of income for most retirees today, followed by superannuation. The age at which baby boomers can receive the pension has increased over time from 65 to 67 years. However, they can access their superannuation earlier, once they reach preservation age.

Preservation ages vary depending on birth dates. Australians born before 1 July 1960 have a preservation age of 55 years. The preservation age increases by one year for every financial year from FY61 to FY64. For those born after 30 June 1964, the preservation age is 60 years. This means the youngest boomers will all gain access to their superannuation this year, which may prompt them to retire. Otherwise, they have seven more years to wait for eligibility for the age pension at 67.

Bjorn Jarvis, ABS head of labour statistics said: “In 2022-23, a Government pension or allowance was still the main source of personal income at retirement for 43 percent of retirees. This was followed by Superannuation, an annuity or private pension at 27 percent.”The full age pension is currently $43,752.80 per annum for couples and $29,023.80 for singles. The average superannuation balance for Australians aged 60 to 64 years is just over $360,000, according to the latest tax office data.

The impact of one of our largest generations retiring is reflected in surging superannuation payouts. New figures from the Australian Prudential Regulation Authority show an 18.1% increase in payouts over the 12 months to 31 March. The payouts, taken as lump sums or pension streams, totalled $112.9 billion.



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Silence makes us feel awkward. Deploying it can be a superpower.

By RACHEL FEINTZEIG
Fri, Sep 27, 2024 4 min

To get what you want, try closing your mouth.

A well-deployed silence can radiate confidence and connection. The trouble is, so many of us are awful at it.

We struggle to sit in silence with others, and rush to fill the void during a pause in conversation. We want to prove we’re smart or get people to like us, solve the problem or just stop that deafening, awkward sound of nothing.

The noise of social media and constant opinions have us convinced we must be louder to be heard. But do we?

“I should just shut up,” Joan Moreno , an administrative assistant in Spring, Texas, often thinks while hearing herself talk.

Still, she barrels on, giving job candidates at the hospital where she works a full history of the building and parking logistics. She slips into a monologue during arguments with her husband, even when there’s nothing good left to say. She tries to determine, via a torrent of texts, if her son is giving her the silent treatment. (Turns out he just had a cold.)

“I should have just held it in,” she thinks afterward.

We often talk ourselves out of a win. Our need to have the last word can make the business deal implode or the friend retreat, pushing us further from people we love and things we want.

“Let your breath be the first word,” advises Jefferson Fisher , a Texas trial lawyer who shares communication tips on social media.

The beauty of silence, he says, is that it can never be misquoted. Instead, it can act as a wet blanket, tamping down the heat of a dispute. Or it can be a mirror, forcing the other person to reflect on what they just said.

In court, he’ll pause for 10 seconds to let a witness’s insistence that she’s never texted while driving hang in the air. Sure enough, he says, she’ll fill the void, giving roundabout explanations and excuses before finally admitting, yes, she was on her phone.

For a mediation session, he trained a client to respond in a subdued manner if the other party said something to rile him up. When an insult was lobbed, the client sat quietly, then slowly asked his adversary to repeat the comment. No emotional reaction, just implicit power.

“You’re the one who’s in control,” Fisher says.

Acing negotiations

To be the boss, “you gotta be quiet,” says Daniel Hamburger , who spent years as the chief executive of education and healthcare technology firms.

He once sat across the negotiating table from an executive who was convinced his company was worth far more than Hamburger wanted to pay to acquire it. What Hamburger desperately wanted to do was explain all the reasons behind his math. What he actually did was throw out a number and then shut his mouth.

Soon they were shaking on a deal.

Hamburger, who retired last year and now sits on three corporate boards, also deployed strategic silence when running meetings or leading teams. If the boss chimes in first, he says, some people won’t speak up with valuable insights.

Days into one CEO job, Hamburger was confronted with two options for rewriting a piece of the company’s software. He didn’t answer, and instead turned the question back on the tech team.

“People were like, ‘Really? Are you really asking?’” he says. By morning, he had a 50-page deck from the team outlining the plan they’d long thought was best. He left them to it, and the project was done in record time, he says.

A day without speaking

Staying mum can feel like going against biology. Humans are social animals, says Robert N. Kraft , a professor emeritus of cognitive psychology at Otterbein University, in Ohio.

“Our method of connecting—and we crave it—is talking,” he says, adding that it excites us, raising our blood pressure, adrenaline and cortisol.

For years, Kraft assigned his students a day without words. No talking, no texting. Some of the students’ friends reported later that they’d been unnerved. After all, silence can be a weapon.

Many students also found that when forced to listen, they bonded better with their peers.

When we spend conversations plotting what to say next, we’re focused on ourselves. Those on the receiving end often don’t want to hear our advice or semi related anecdotes anyway. They just want someone to listen as they work through things on their own.

The question mark trick

Without pauses, we’re generally worse speakers, swerving into tangents or stumbling over sounds.

Michael Chad Hoeppner , a former actor who now runs a communications training firm, recommends an exercise to get used to taking a beat. Ask one question out loud, then draw a big question mark in the air with your finger—silently.

“That question mark is there to help you live through that fraught moment of, ‘I really should keep talking,’” Hoeppner says.

At a cocktail party or in the boardroom, you can subtly trace a question mark by your side or in your pocket to force a pause.

Sell with silence

Fresh out of college, Kyler Spencer struggled through meetings with potential clients. Some sessions stretched to two hours and still didn’t end in a yes.

The financial adviser, based in Nashville, Ill., realized he was rambling for 15-minute stretches, spouting off random economic facts in an attempt to sound savvy and experienced.

“I basically just bulldozed the meeting,” says Spencer, now 27.

He started meditating and doing breathing exercises to calm his nerves before meetings. He now makes sure to stop talking after a minute or two. The other person will jump in, sharing about their life, fears and goals. It’s information Spencer can use to build trust and pitch the right products.

His client list soon started filling up, and happy customers now send referrals his way.

“It’s amazing,” he says, “what you learn when you’re not the one talking.”

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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