COVID-19 effect on retirees

This is too serious an issue for me too make jokes about nor would I like to be that morbid.

 

Shortage of crematoria is a serious issue. In Italy they use Army trucks to transport bodies. We have to consider all aspects and prepare for contingencies.

 

Actually, this is the third - 1987\88, 2008 and 2020.

 

I totally agree. My position is that this discussion/plan should be in the public domain in order to prepare the general public for the worst (hoping the worst doesn't happen) and to try and get the message over to the young and those idiots at Bondi the seriousness of the situation. I understand though others may have a different mindset so its not something I push.

 

lol
Very funny.... but no luck, no health issues here, touch wood

Perhaps I should cut back on my wine intake, only joking

 

I think in the main panic due to deaths
Difference here once we have a vaccine hoping it all bounces back???? Unfortunately it may be too late for some

 

Wow, interesting, and I made it

 

I think the breadth and depth of this crisis is far wider than GFC and we still don't know how long it will run for.

 

By the way things are going, we will be way past the mean of inflections by the time the vaccine is ready.

At current rates, the mean will be the end of next month. A real disaster for all.

I am guessing the Government is trying to push the mean out until the end of September?

 

I think your right, but I am trying to put a positive spin on everything

 

I always did like a roller coaster ride:

 

I updated our Net Worth spreadsheet this morning (being doing this at the of every Quarter since December 2003).

Two key findings. In the last Financial Year:

1. Our Net Worth did not change between June 2019 and June 2020. This excludes the money we spent in the last 12 months.

2. If we add back in the mandatory pension we paid ourselves last July, our SMSF balance did not change between June 2019 and June 2020.

All in all, not a bad result for a retired couple given all that has occurred in the FY.

 

Hope that roaring bull comes back soon!

Yes it’s a rollercoaster, but having had a sudden retirement decision made for us in the middle of this crazy time, it’s not the equities causing us grief it’s the properties.

 

It really depends on their overall wealth and their goals. My parents retired more than 10 years ago but still have most of their wealth in shares, with a growth strategy. Why? Because they have enough that they can afford to ride out fluctuations. They lost nearly $300k in the initial crash, but didn't panic and have so far regained nearly $200k of that with careful investments as the market has started to recover. There will be more bumps yet as COVID-19 continues, but they can afford to stay calm and ride it out. It has not affected their lifestyle.

 

I guess it's that time of year to have a look at the tax side,apart from a few above 35 percent slides on some bank holdings everything is good properties are all holding value range still receiving above 4 letters a month for interest in properties we control and as I don't pay the tax till late March next year their is a pyramid of possibilities out there.imho.

 

similar scenario for Oz and US properties

have started my development project in Perth designs getting finalised this week

am working with someone to help me with share market strategy. This will be a buy and hold, hoping Timing is good

 

The only real setback, personally, has been the closure of the Qld border. Had initially intended to head to Karumba late May. Now that the border is opening on the 10th of July I will be off shortly after, calling in to see my son and daughter-in-law on the way (they are now at Cooroy).
Financially things are just steadily chugging along.

 

"This will be a buy and hold, hoping Timing is good"

7,160 to 4,546 (-36%)
4,456 to 6,085 (+34%)

Timing was when and the plan was?

 

If you have been in it for some 20 years you can ride it, same as property. Will hurt those that recently jumped in

Cashflow is what matters in retirement

 

The scariest effect is the health effect, its morbidity.