The government and ASIC are demanding banks and financial service providers strengthen their scam and fraud defences. With this nefarious activity costing Australians $318 million in the past 15 months alone, the industry’s positive response has not come quickly enough.
With industry funds feeling the heat from APRA, it’s likely more members will look for a better option, especially if they are nearing or in retirement. Those choosing to do so need to tread warily.
Celebrating 2024’s best and brightest in retirement
In its first year of publication, The Golden Times has decided to reflect on the investments, strategies and innovations that benefited the financial and lifestyle choices of Australian retirees in 2024.
In what will become an annual event, the Golden Awards will celebrate the standouts across diverse categories that helped retirees navigate volatile markets, embrace sustainability and explore new opportunities for personal fulfillment.
The inaugural 2024 winners were:
Golden Fund Manager: Munro Partners
Delivered exceptional returns by capitalising on global growth trends. Strategic investments in sectors such as technology and climate innovation, including significant exposure to NVIDIA, made this manager a top performer for retirees seeking growth in their portfolios.
Golden Stock: Fortescue Metals Group (ASX:FMG)
The Western Australian miner impressed retirees with a stellar dividend yield of 9.65 per cent, underpinned by demand for iron ore and disciplined capital management. The company’s commitment to shareholder returns solidified its place as a reliable income-generating stock.
Golden Retirement Strategy: Transition-to-retirement strategy using Vanguard’s diversified high growth fund.
The $US14 trillion fund manager’s strategy balanced capital preservation with income generation, leveraging diversified assets to deliver steady growth. Low management costs and a disciplined approach ensured retirees could sustain their desired lifestyle.
Golden Dividend Champion: Westpac (ASX:WBC)
One of the Big Four, it stood out with a strong dividend yield of 6.4 per cent, reflecting its robust performance and focus on shareholder returns. Retirees appreciated the bank’s stability, fully franked dividends and reliable cash flow.
Golden ESG Investment: Australian Ethical Balanced Fund
Achieving a return of 12.1 per cent in 2024 and an annualised return of 7.9 per cent since inception (2019), this fund blended ethical principles with competitive returns. Retirees valued its commitment to sustainability while ensuring steady growth.
Golden Superannuation Fund: Colonial First State
CFS’s MySuper balanced option delivered a return of 13.8 per cent, driven by strong equities performance. Flexible investment choices and competitive fees ensured CFS remains a favourite among retirees seeking growth and security.
Golden Income Fund: Talaria Global Equity Fund
This fund provided retirees with consistent income returns, averaging 7.83 per cent a year over the past five years. Its focus on minimising volatility and maximising sustainable income made it a reliable choice for long-term financial security.
Golden Property Play: Charter Hall Long WALE REIT (ASX:CLW)
This REIT offered retirees stable income through long-term leases with quality tenants. This diversified property portfolio ensured capital stability and consistent rental yields, appealing to income-focused retirees.
Golden Offshore Destination: New Zealand
The land of the long white cloud’s breathtaking landscapes and retiree-friendly travel packages made it a standout overseas destination. Its proximity to Australia, affordable accommodation and entertainment and welcoming atmosphere created memorable travel experiences.
Golden Money for Nothing from the Government: Seniors Card
Offering discounts on public transport, utilities and leisure activities, this card saved retirees thousands of dollars. It remains one of the most appreciated government initiatives for older Australians.
Golden Tax Strategy: The Downsizer Contribution Scheme
It allows retirees over 55 to contribute up to $300,000 from selling their home into superannuation. It provided tax benefits, reduced capital gains tax exposure and helped retirees boost their retirement savings.
Golden Financial Literacy Resource: The Golden Years
This practical guide empowers retirees with strategies to manage wealth, navigate superannuation and plan legacies. Its easy-to-follow advice and actionable insights made it a must-read for retirees.
Golden Podcast: Rask Retirement by Drew Meredith and Owen Rask
Insightful and engaging, Rask Retirement broke down complex financial topics, from investment strategies to superannuation updates. Retirees appreciated its accessible format and practical advice, keeping them informed.
Golden Community Initiative: University of the Third Age
Offers retirees enriching educational opportunities, from technology courses to wellness workshops. Its emphasis on social connection and lifelong learning creates a vibrant community for retirees across Australia.
