When Federal Treasurer Jim Chalmers hands down the budget on 14 May, the pressing need for fiscal responsibility is likely to trump spending programs.
In an era of fake news, it’s getting more difficult to separate fact from fiction. Yet it’s imperative we do so because the consequences for being deceived can be enormous.
Appetite for cryptocurrencies grows alongside investor confidence
According to new research from online trading platform Syfe, local investor confidence is stable with an emphasis on building long-term wealth and knowledge.
The Syfe Investor Pulse 2022 report found that confidence is steady and new investors are continuing to enter the market despite recent volatility, “with 66 per cent adopting a longer-term, passive approach and only 7 per cent considering selling their investments”.
The research surveyed over 1,000 Australian respondents from 25 to 45 years of age in July 2022. The study found that achieving financial security (39 per cent) and building wealth for the long-term (24 per cent) were the main priorities for investors at this time. The lack of disposable income remained their biggest impediment to long-term wealth creation.
Despite the recent volatility, triggered by rising inflation and interest rates, roughly half of those surveyed were confident in achieving their goals, while under half indicated that it would take longer than first thought. The same number said they will only invest in asset classes they are familiar with indicating a real need for greater education.
Respondents showed a clear appetite for cryptocurrency with 41 per cent already invested and 34 per cent feeling it will be the future investment vehicle which was on par with property. Roughly 16 per cent of investors were looking at going defensive with the addition of bonds while 12 per cent indicated a preference to invest more aggressively via higher risk assets.
