Sign our

petition

to protect

the Age

penSion

ISSUE 4 DECEMBER 2014

Retirement Update

RetiRement income GoveRnment technoloGy Pension livinG costs budGet sPendinG RetiRement RiGhts health PRotect the Pension suPeR leGal cooKinG deals discounts social money-savinG voucheRs diaRy dates and moRe...

What will your retirement look like in 2015?

http://www.apia.com.au

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If you’re over 50, call us for a chat and find out how Apia rewards your experience.

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Steve - Apia customer

How Apia rewards your experience.

YOURLifeChoices Retirement Update December 2014 3

Published by: Indigo Arch Pty LtdPublisher: Kaye Fallick Editor: Debbie McTaggart Assistant Editor: SJ Fallick Copy Editor: Lesh Karan Designer: Word-of-Mouth CreativePhone: 61 3 9885 4935 Email: admin@yourlifechoices.com.auWeb: www.yourlifechoices.com.au

All rights reserved, no parts of this book may be printed, reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, recording or otherwise, without the permission in writing from the publisher, with the exception of short extractions for review purposes.

IMPORTANT DISCLAIMERNo person should rely on the contents of this publication without first obtaining advice from a qualified professional person. This publication is distributed on the terms and understanding that (1) the publisher, authors, consultants and editors are not responsible for the results of any actions taken on the basis of information in this publication, nor for any omission from this publication; and (2) the publisher is not engaged in rendering legal, accounting, financial, professional or other advice or services. The publisher and the authors, consultants and editors expressly disclaim all and any liability and responsibility to any person, whether a subscriber or reader of this publication or not, in respect of anything, and of the consequences of anything done or omitted to be done by any such person in reliance, whether wholly or partially, upon the whole or any part of the contents of this publication. Without limiting the generality of the above, no publisher, author, consultant or editor shall have any responsibility for any act of omission of any author, consultant or editor.Copyright Indigo Arch Pty Ltd 2014

FRom the editoR

Welcome to YOURLifeChoices December RetiRement Update

As we say goodbye to 2014, it’s a time not only to reflect, but also to put our best foot forward and tackle 2015 with a clear mind. So don’t ditch all those grand plans you had

last year, perhaps just tweak them a little to make them more achievable.

With this in mind, Kaye takes an in-depth look at what retirement in 2015 means. We have all our regular government, pension and health updates to keep you in the know, as well as some fun innovations in technology.

2015 may be the year for you to make the transition to retirement, but do you know your workplace rights when you negotiate this? And before you commit to working less, following Maurice Patane’s five easy steps will help you determine whether you can fund a life of more leisure. If you’ve got a few years left to work, taking a good look at whether your super fund is still the right one could reap financial benefits. Or, if your retirement income isn’t stretching as far as you had hoped, Lesh has some suggestions on ways to earn top-up cash.

Changes to FoFA are confusing, so we’ve asked the FPA’s Dante De Gori to explain what they actually mean for the average investor. And Craig Hall has taken the time to explain the five financial pitfalls you’ll be keen to avoid in the coming year.

Our relationship expert Jo Lamble has some tips for taking stock of your relationships and knowing when to fight to save them, or simply cull and move on. Barrie Cassidy has graced our television screens for many years on The Insiders, and now he shares with us the story behind his latest book, Private Bill, and the family lessons he learned during his research. And the delightful Ian Parmenter offers three of his favourite dishes, which we’re sure will soon be your favourites too.

So, as we look to the coming year, our aim is to help protect the Age Pension by letting the government know that changes to indexation and deeming simply won’t be tolerated. We’ve partnered with advocacy group GetUp to get this message out. If you agree with our sentiment, why not take the time to sign our petition on page five?

Updating your retirement choices,Debbie McTaggartEditor

YOURLifeChoices Retirement Update December 20144

FRom the PublisheR

Saving the penSionMore than 75 per cent of Australians aged 65 plus are living

on a full or part Age Pension. This is not because they have failed to save enough for retirement, or spent their

kid’s assumed inheritance. It is because, happily, they have and will probably continue to live far longer than previous generations – another 25–30 years in most cases.

So, few can be expected to have saved enough to fund another 30 years. And given that compulsory superannuation only started in 1992 – starting at 2.5 per cent of wages and salary – 60-something Australians simply haven’t had time to benefit from this mandatory retirement policy. So it’s onto the pension they will go. And despite the perception that older Australians are a burden on other generations, who would really choose to exist on a measly $427 (single Age Pension) or $644 (couples Age Pension) per week?

So when we heard the Treasurer’s announcement of cuts to the pension in the May 2014 Budget, we saw red – a sea of red ink for those already living a life of subsistence in retirement.

The proposed changes include many things that are simply unfair by any measure. In particular, the increase in the age of Age Pension entitlement from 67 to 70 is a punishment for older workers who cannot get work, often through no fault of their own. Until there are jobs available and no age discrimination against older jobseekers, there is no case to put people through these years of Newstart misery.

For those who already receive the Age Pension, the proposed change in indexation –removing the benchmark of the Male Total Average Weekly Earnings (MTAWE) to use only the CPI (starting 1 July 2017) – will mean, within 10 years, a drop in real income of $80 per week, according to the Australian Council of Social Services (ACOSS).

So read the next page to learn about our partnership with activist organisation GetUp to create an online petition which you can sign and share to protect the Age Pension from death by 1000 cuts.

You are not on your own

Kaye Fallick Publisher

From the Editor 3

From the Publisher 4

Protect the pension petition 5

Government update 6

Pension update 7

Retirement living costs 8

How does your spending 9 compare?

How to retire in 2015 10

Health update 13

Technology update 14

Your rights in transition 15

Five easy steps 16

FoFA changes explained 18

Super update 19

Avoiding financial pitfalls 20

Relationship stocktake 21

Eat well for less 22

Legal update 24

Boost your retirement income 26

Lessons learned: 28 Barry Cassidy

Deals and discounts 30

Diary dates 31

contentS

YOURLifeChoices Retirement Update December 2014 5

siGn ouR Petition

to protect the age penSion

Sign our petition

Who is GetUp?GetUp is an independent, grassroots, community advocacy organisation that seeks to build a more progressive Australia and hold politicians to account. Whether it’s campaigning on climate action, economic fairness, environmental sustainability or social justice issues, GetUp members combine to demand better from our government, big business and media.GetUp members from across Australia come together at critical moments to take targeted, coordinated and strategic action to make real change. This could mean signing a petition, helping to get a television ad on air, attending an event or meeting with local members.

I n October the Prime Minister Tony Abbott sent a letter to all 1.7 million Australian pensioners, suggesting that, as a result of the May Budget,

they had just enjoyed a pension increase.

Mr. Abbott's letter deliberately obscured an unpalatable truth: budget changes to the way the Age Pension is indexed will significantly reduce the rate of pension increases over time — amounting to an estimated cut of $80 per week to pension payments over the next 10 years, according to the Australian Council for Social Services (ACOSS) which states “the indexation of pensions to CPI would have a significant impact on pension levels. While pensions would still increase as prices rise, they will increase more slowly. After 10 years, ACOSS estimates that single pensioners will be $80 per week worse off than they would be under current arrangements. Community living standards improve with increases in wages, but the living standards of those on pensions will fall behind.”

For thousands of older Australians already living below the poverty line, the magnitude of these cuts is untenable, risking the creation of an aged poor cohort. But with so many budget fronts to fight, this issue's been flying under the media radar, so it's increasingly possible the Senate crossbench could cut a deal to allow the changes through.

Will you hold Mr. Abbott to his promise on the eve of the 2013 election that there would be "no changes to pensions" by signing onto the campaign now?

YOURLifeChoices website has partnered with GetUp, one of Australia's largest campaigning communities, with a membership of over 600,000

people, to ensure that changes to the Age Pension do not proceed.

If you are already living on the full Age Pension, you will be aware of the near-impossibility of maintaining a decent standard of living. Further cuts – up to $80 per week - will reduce this frugal lifestyle to one of poverty. So what can you do?

If you agree that the proposed changes in indexation are wrong, sign the YOURLifeChoices-GetUp petition here.

If you want this petition to be circulated more widely, share with a friend – or two. You can also like us on Facebook and extend the reach of this petition on Twitter.

YOURLifeChoices Retirement Update December 20146

GoveRnment uPdate

Parliament may have disbanded for the summer, but there are a few changes you need to know.

government upDate December 2014

A simple, free test could save your lifeEvery week in Australia around 80 people die from bowel cancer, yet it is one of the most treatable forms of cancer if detected early. A simple test, whilst a little unpleasant, is harmless and could save your life. The free cancer screening program offered by the Australian Government is being extended in 2015 to include those turning 70 or 74 years of age.Cancerscreening.gov.au

No GP co-payment for pensionersOne of the more contentious budget measures announced in May was the proposal to introduce a $7 co-payment when visiting a doctor. Although this was to be capped at 10 visits for concession card holders, it did include visits for diagnostic tests. As announced by the Federal Government last month, this measure has been amended to a $5 discretionary charge by GPs and diagnostic clinics, with pensioners exempt from paying the fee. This measure will start from 1 July 2015*.*Subject to legislation.

Humanservices.gov.au

Postage prices under reviewThe price of a postage stamp could increase to $1.50 for those wishing a speedier service. Reforms which are yet to be approved could see letters requiring next day delivery attracting the higher fee. While the cost of sending less urgent letters, to be delivered within two days, could rise from the regular stamp price of 70 cents to $1. Concession card holders will be protected by safeguards, which entitles them to a reduced stamp charge of 60 cents, but you must first have a MyPost Concession Account.

Auspost.com.au

While the Federal Government has had some difficulties passing legislation to implement its budget measures

announced in May, there are still some important changes of which you should be aware. Learn more about the changes to the Bowel Cancer Screening program and the proposed changes to the GP payment budget, as well as why it’s time you applied for a MyPost Concession Account.

YOURLifeChoices Retirement Update December 2014 7

Changes to Centrelink rules and payments which happen over the festive break can catch people unaware, so here’s what you need to know.

The start of the new year brings with it some changes to pension rules. While not all have officially been

passed as legislation, it is worth knowing how your payment may be affected. This is especially important if you’re on a Disability Support Pension and are planning to travel overseas – even if only for a short period of time – or if you’re planning to start an account-based pension this year.

penSion upDate December 2014

Reduced portability of Disability Support PensionFrom 1 January 2015*, anyone who receives the Disability Support Pension and is travelling overseas will have the portability of the payment reduced. They will only be able to receive payments for a maximum of four weeks in any 52-week period. If travel has been booked and paid for before 14 May 2014, the existing six-week payment period will apply, as long as the person has completed their trip and returned to Australia by 1 January 2016.*Subject to the passing of legislation.

Humanservices.gov.au

Changes to deeming rulesChanges to deeming rules, which apply to financial investments, have now been implemented. This means that account-based income streams will be assessed when anyone applies for, or receives, Centrelink benefits for which income and asset assessment is required. Those who receive an Age Pension, Low Income Health Care Card and self-funded retirees are just some of the groups affected by this change. Products commenced prior to 1 January 2015 are grandfathered and previous rules apply.Humanservices.gov.au

Find your paymentIf you’re unsure about the Centrelink payments to which you may be entitled, then the Payment Finder tool on the Human Services website may help. All you have to do is key-in some information about yourself – such as your age and whether you’re retired – and the Payment Finder will generate possible payments.Humanservices.gov.au

Pension uPdate

YOURLifeChoices Retirement Update December 20148

RetiRement livinG costs

Your retirement living coStSThe ASFA Retirement Standard - September quarter 2014 In November the Association of Superannuation Funds of Australia (ASFA) released the ASFA Retirement Standard. This included a detailed weekly budget breakdown for singles and couples in retirement, supporting either a modest or comfortable lifestyle.

ASFA has kindly allowed YOURLifeChoices to share this information (for the September quarter 2014) in the table below.

Expenditure items Comfortable couple

Modest couple

Comfortable single female

Modest single female

Building and contents insurance 29.69 23.50 24.74 23.59Rates 34.87 29.69 29.69 29.81Home improvements 9.89 0.00 9.89 0.00Repairs and maintenance 17.32 12.37 14.84 14.90Total housing 91.77 65.56 79.16 68.30

Electricity and gas 56.53 54.55 41.68 41.07Total energy 56.53 54.55 41.68 41.07

Food – groceries and other fresh food 198.13 159.61 110.07 77.05Total food 198.13 159.61 110.07 77.05

Bundle of home phone, broadband, mobile 32.64 16.33 25.64 9.33Total communications 32.64 16.33 25.64 9.33

Household cleaning and other supplies 25.47 15.28 18.34 10.19Cosmetic and personal care items 3.04 2.92 6.83 1.96Barber or hairdresser 20.38 8.78 14.64 4.90Music and CDs 2.13 0.00 0.32 0.00Newspapers and magazines 8.16 1.90 7.97 2.38Computer, printer, software 4.18 4.18 4.18 4.18Household appliances 11.70 2.97 9.97 2.97Pest control, alarm service 12.51 0.00 12.51 0.00Total household goods and services 87.57 36.03 74.75 26.57

Clothing 57.37 28.68 38.25 17.67Total clothing and footwear 57.37 28.68 38.25 17.67

Car transport and running costs 140.42 93.33 140.42 93.33Public transport 5.44 5.44 2.72 2.72Total transport 145.86 98.78 143.14 96.05

Health insurance 78.62 63.05 40.00 31.53Chemist 23.11 3.15 12.75 1.77Co-payment and out of pocket 40.56 12.23 27.88 7.34Total health services 142.30 78.43 80.63 40.64

Membership clubs 9.64 1.93 4.84 0.97TV, DVD, digital camera 1.78 0.90 1.78 0.90Alcohol consumed in home (or equivalent spent) 40.24 15.09 25.15 10.06Lunches and dinners out 80.47 25.05 60.12 30.07Cinema, plays, sport and day trips 13.49 18.79 6.74 5.78Domestic vacations 77.09 36.62 65.53 18.31Overseas vacations 53.95 0.00 36.62 0.00Sundry items 29.76 11.56 22.82 7.71Total leisure 306.41 109.93 223.60 73.78

Gifts and/or alcohol or tobacco 0.00 0.00 0.00 0.00

Total weekly expenditure $1,118.58 $647.91 $816.92 $450.48Total annual expenditure $58,326 $33,784 $42,597 $23,489

Weekly expenditure

YOURLifeChoices Retirement Update December 2014 9

youR RetiRement budGet

hoW DoeS Your SpenDing compare?What about YOU?Here is a handy table you can print out and complete to check whether your weekly, monthly and annual spending is similar to the different levels quoted in the ASFA Retirement Standard. Use it to work out if you are admirably thrifty – or need to trim your costs to keep within your budget level.

Expenditure items Weekly Monthly Annual

Building and contents insuranceRatesHome improvementsRepairs and maintenanceTotal housing

Electricity and gasTotal energy

Food – groceries and other fresh foodTotal food

Bundle of home phone, broadband, mobileTotal communications

Household cleaning and other suppliesCosmetic and personal care itemsBarber or hairdresserMusic and CDsNewspapers and magazinesComputer, printer, softwareHousehold appliancesPest control, alarm serviceTotal household goods and services

ClothingTotal clothing and footwear

Car transport and running costsPublic transportTotal transport

Health insuranceChemistCo-payment and out of pocketTotal health services

Membership clubsTV, DVD, digital cameraAlcohol consumed in home (or equivalent spent)Lunches and dinners outCinema, plays, sport and day tripsDomestic vacationsOverseas vacationsSundry itemsTotal leisure

Gifts and/or alcohol or tobacco

Total expenditure

YOURLifeChoices Retirement Update December 201410

Retirement is another country. So which one will it be for you?

hoW to retire rich – on a loW income

Your dream retirement may resemble the sunset beaches of Bali, with the promise of a life of leisure and ‘me-time’, where days

merge seamlessly into each other. Is it Monday, Wednesday or Saturday? Who cares when you can lie back and relax?

Others think retirement should be more like Italy – a super busy mix of work, social activities and family. For these retirees, work is the important glue which adds structure to their days and lives, and provides a much-needed stream of cash to keep the party rolling. While others may long for a more conservative regime – say Germany – where things are highly organised, tightly budgeted and entirely predictable.

The good news is, whichever ‘retirement nation’ you choose, it is possible to lead a rich retirement on a low income. How? you might wonder, as you struggle with the knowledge that you will be one of the 75 per cent of Australians aged 65 plus living on a fixed income based on a full or part Age Pension. If you are one of the fortunate 25 per cent not likely to be on a pension and with access to life’s luxuries, congratulations.

But even the financially well off will need to plan to avoid what might become an empty and unfulfilling lifetime of Saturdays. So read on for our essential ingredients to transition to a rich retirement, regardless of your income.

Make a well-planned transitionChange frightens most people. This is regardless of whether the change is to a desirable life stage such as retirement. Many of us need time to work our way into a new situation. So to give up full time work and lurch into full time vacation, paradoxically, tends to place many people under a great deal of stress. A loss of identity, swiftly followed by a loss of self-esteem can follow. Those who segue into life after work tend to do much better in the happiness stakes. So, starting your move from full-time work into one or two days fewer per week makes a lot of sense. Perhaps the new trend of ‘long-weekend retirees’ (LOWEs) is the way to go – working Tuesday, Wednesday and Thursday in your regular job and exploring ‘life after work’ across a longer weekend.

Stay socially and emotionally connectedConnection is now interpreted as a multi-device state. But true connection is more likely to be about the time you spend device free; time spent using the old-fashioned senses – talking, listening and touching. Yes, we can use technology to remain in touch with friends in far-flung places, but why text or email a loved one when a hug is possible? Most research tells us that it is isolation which kills older people ahead of chronic disease. So it’s time to audit your connections with other people, and

how to RetiRe

YOURLifeChoices Retirement Update December 2014 11

to work on improving this aspect of your life before your head into full-time retirement.

It’s still called love, actually.

Maintain your sense of purposeWithout purpose there is no reason to get out of bed in the morning.

What creates your sense of purpose is intensely personal. But it is critical to have something more than yourself to work towards. For decades, our occupation may have provided our primary purpose – although most people would argue that it is their family that tops the list. But when we leave full-time work, or take a less responsible or non-paid role, and the family leaves home or perhaps we lose a life-long partner, then we have to work out what it is that matters enough to keep our body and soul together.

Create an interesting and varied structureDo you keep a diary? Of course you do. Whether electronic or old-fashioned paper, it’s how we keep track of the many events we must attend and the obligations we need to honour. If anything, a busy diary becomes even more important in retirement. So if you are planning on going part-time or even moving to full-time retirement, consider plotting your days and activities over a four-week period.

This will reveal how busy you might be – or how empty your days could become if you have yet to join new groups or pursue new hobbies. Scary? Exactly. So armed with this foresight, think again how quickly you wish to make the leap to life in Bali, Italy, Germany or whichever retirement nation you prefer.

Keep on movingWhat’s the point of having long-awaited time and well-planned financial freedom if your health has packed it in? And don’t think this can’t or won’t happen to you. It is a sad reality for many Australians that just as they are moving into that much-anticipated timeout, they receive a diagnosis of a life-threatening condition. The good news is that many chronic medical conditions are avoidable. And it is low-cost or no-cost habits such as walking, reducing alcohol, eating sensibly and having regular checkups that keep us in the fit zone. So make a pact with yourself today that 2015 is the year you will honour your body by keeping your weight within the recommended BMI, eating five serves of vegetables and two of fruit each day, reducing red meat and alcohol, and establishing sensible sleep and exercise routines. You literally won’t know yourself, and will find the extra energy that is essential to your ongoing retirement wellbeing.

how to RetiRe

This Apia health insurance is issued by nib health funds limited ABN 83 000 124 381 (nib) a registered private health insurer and is arranged by Australian Pensioners Insurance Agency Pty Ltd (Apia) ABN 14 099 650 996. *Provider must have professional qualifications recognised by the health insurer. ^Waiting periods apply for services not currently covered. Any benefits limits used with your current fund will apply to your Apia health insurance policy.

health inSurance: an afforDable SolutionChanges to the way the Government’s private health

insurance rebate is calculated, combined with insurance premiums increasing every year, are forcing

consumers to re-evaluate whether or not they can afford health cover. With concerns over changes to Age Pension indexation and the proposed increase in pension eligibility age, more people are evaluating what’s a necessary expense and what is simply a nice-to-have. When times are tight, it provides an opportunity to review your health cover and check if better value options are available.

In addition to rising premiums and income concerns, a change in life stage also requires a different type of health cover to keep you living life at your best. It becomes increasingly important to locate cover which is specifically tailored to the needs of over 50s.

For years Apia has known what’s important to the over 50s when it comes to insurance. And they’ve learnt a thing or two about what you need. Which is why Apia has introduced health insurance that’s specially designed for the over 50s. Features of the new health cover include:

• cover for important things, such as heart surgery and joint replacements on hospital covers, whilst not paying for unnecessary cover like pregnancy

• a wide range of Extras options

• choice of Extras provider, visit the dentist or optometrist you’d like to see*

• 75 per cent of the cost back every time you claim, up to your annual limit with Premium Extras

• Up to four per cent discount if you choose to pay by direct debit from a bank account.

Plus, waiting periods already served with your current fund will be recognised, so you can claim straight away^.

Health insurance is not just about lowering medical bills, it’s also important to maintain a sense of independence and control of your health needs.

Why not choose the cover that suits you?

Making the switch is easy.

If you want tailored cover, make the switch to Apia health insurance.

Call us for a chat on 13 50 50

Or visit apia.com.au/health

Choose the cover that suits.With a range of hospital and Extras cover, you now have the flexibility to choose the cover that best meets your needs and budget.

Hospital CoverAPIA ESSENTIAL HOSPITAL

Great value cover for most commonly claimed services.

OR

APIA PREMIUM HOSPITAL The best Apia hospital cover for peace of mind.

Extras CoverESSENTIAL EXTRAS

Cover for the Extras people use most, with 60% back of the cost to you, up to your annual limit.

ESSENTIAL PLUS EXTRAS Enjoy higher annual limits for the Extras people use most.

Plus you can add ADVANCED EXTRAS

Additional Extras like chiropractic and osteopathy to suit an active lifestyle.

OR

APIA PREMIUM EXTRAS The best level of Apia Extras cover: 75% back of the cost

to you, up to your annual limit.

12

sPonsoRed messaGe FRom aPia

YOURLifeChoices Retirement Update December 2014 13

health uPdate

Medical science is always evolving – so it’s difficult to keep track of new breakthroughs. Below, we explain some of the more recent medical advances.

health upDate December 2014

Breast cancer vaccine shows promise According to an early clinical trial, a new breast cancer vaccine shows promising results in patients with metastatic breast cancer. Preliminary evidence suggests that the vaccine assists in attacking tumour cells, slowing the spread of cancer – even in women with a weakened immune system as a result of chemotherapy and advanced disease. Read More >

Revolutionary device could restore sightResearchers have recently made important technological advances towards a prosthetic retina. Scientists have combined semiconductor nanorods and carbon nanotubes to create a wireless, light-sensitive, flexible film which could potentially replace a damaged retina. This revolutionary device, tested on animal-derived retinal models, has the potential to treat patients with age-related macular degeneration as well as other eye diseases. Testing in humans is needed. Read More >

Leadless cardiac pacemakerCardiac pacemakers haven’t changed much since 1958. Current technology involves a pulse generator the size of a 20-cent piece and a thin lead, which is inserted through a vein to keep the heart beating steadily. This technology has its pitfalls: in some cases, the lead can become dislodged or break and become infected. However, a new capsule-sized, wireless cardiac pacemaker can now be implanted directly in the heart while under local anaesthetic and without surgery. Download PDF > Watch Video >

Back to the subject of sight...A revolutionary new implant may mean that your reading glasses could become a thing of the past. The implant takes the form of a tiny ring, no larger than a pinhead, which is placed beneath the eye’s surface, thereby increasing the curvature of the cornea and allowing the eye to focus properly again. This hydrogel ring is made of the same substance used in contact lenses, and is inserted using a virtually painless laser procedure. More than 80 per cent of those who have had the procedure are now able to read a newspaper without glasses. Read More >

Viagra is good for heart healthWe’re all aware of the purpose Viagra serves in the bedroom, but scientists are now saying that the little blue pill could be good for your heart as well. Recent studies have found that a key ingredient in Viagra may help patients who suffer from a condition which causes the heart muscle to thicken and enlarge. The studies were conducted exclusively in men, so the next step should be a larger trial in women, as well as different ethnic groups. Read More >

YOURLifeChoices Retirement Update December 201414

tech uPdate

Feeling a little left behind when it comes to technology? Here are five new updates to keep you up to speed with the tech world.

technologY upDate December 2014

1. Metadata and privacy Debate over proposed changes to our privacy laws, specifically those pertaining to metadata retention, has been delayed until 2015. The delay was requested by the Labor Party “to give adequate time for a thorough consultation process to occur.” Labor’s Shadow Communications Minister, Jason Clare, stated that “Labor is also disappointed the Government introduced the bill without first consulting with the Australian people.” Aspects of the bill have been described as “Orwellian” by some media outlets.

Click here to read about the changes and what YOURLifeChoices readers thought about them when first proposed earlier this year.

2. Catchiest songs of all timeAn experiment conducted by the UK’s Museum of Science and Industry has revealed the catchiest songs of all time. The experiment collected data through an online game called ‘Hooked on Music’. Collecting data on over 1000 songs from over 12,000 participants, the list includes hits from the Spice Girls, Louie Bega, ABBA and more.

Read more and listen to the top 20 on CNET, or play the game here.

3. New NBN rollout plansThe National Broadband Network (NBN) has announced a new plan to bring faster internet to the masses. The new approach aims to cost less and save time whilst delivering NBN internet to almost two million houses in the next two years.

Click here to find out more and see if your house is part of the new plan.

4. Steve Jobs was a low-tech parentAn insightful article published by the New York Times has revealed that former Apple CEO Steve Jobs was strict with how much time his children spent using technology. What’s more surprising is that he isn’t alone; many other CEOs and tech giants enforce strict rules when it comes to parenting in the digital age. Should we be following their example to prevent our children and grandchildren becoming addicted to, or afflicted by technology?

Read more at The New York Times.

5. The world’s first real hoverboardJust in time for 2015, the year depicted in the classic Back to the Future film series, a kickstarter has funded the production of the world’s first hoverboard. Arx Pax labs, under the direction of founder and CEO, Greg Henderson, has created the ‘Hendo hoverboard’. The device uses the same technology as maglev trains; therefore it’s only able to hover over certain metal surfaces.

Click here to watch pro-skater Tony Hawk testing it out.

YOURLifeChoices Retirement Update December 2014 15

RetiRement RiGhts

Help is at hand for mature workers as they negotiate their workplace exit, says Age Discrimination Commissioner Susan Ryan.

Your rightS in tranSition

MOREFor more information, contact the Department of Human Services, Centrelink, Older Australians. Ph 13 23 00 or visit www.humanservices.gov.au.

You may like to read the Australian Human Rights Commission’s guide Your Rights At Retirement. Limited stocks of hard copies are available (Ph 1300 369 711).

If you experience age discrimination, you can make a complaint to the AHRC. Complaints are confidential and free of charge. Ph 1300 656 419 or email infoservice@humanrights.gov.au.

T oo often older Australians who are still working feel unable to initiate a discussion with their employer about their eventual

retirement, for fear of unwanted repercussions. Some may feel forced into retirement or may be worried that they will be denied work opportunities once the subject of retirement is broached. Such experiences can constitute unlawful age discrimination, and they do occur in some Australian workplaces.

Discussing the transition to retirement with your employer can assist you and your employer to plan for the future. However, it is essential to fully understand your rights beforehand.

Age discrimination in the workplace occurs if a person is treated less favourably than another person in a similar situation because of their age. Age discrimination also occurs indirectly when there is a rule or policy which is the same for everyone but has an unfair effect on people of a particular age.

Examples of age discrimination in employment include:• being refused training, promotion or other

opportunities by an employer because it is assumed an employee will retire soon

• older employees being targeted for redundancies• the use of restructure practices to demote mature

age workers.

Older workers now have the right to request flexible work arrangements, such as phased retirement. Under the Fair Work Act 2009 (Commonwealth),

many workers over 55 can ask their employer for a change

in working arrangements. Employers may only refuse on reasonable business grounds.

If you feel that you have experienced discrimination, you may want to deal with the situation by raising it directly with the person

or people involved, or with a supervisor or manager. You may also make a complaint to the Australian Human Rights Commission (AHRC).

At the AHRC, approximately two-thirds of the age discrimination complaints we received last year were about discrimination in employment. A high proportion of these complaints were resolved by the Commission through a conciliation process.

Older people have the right to be free from discrimination in the workplace and should be able to continue working without being discriminated against because of their age.

YOURLifeChoices Retirement Update December 201416

Finance Q&a

When it comes to retirement, it’s easy to confuse success with happiness. Maurice Patane offers five easy steps to ensure your happiness is in check during

this important stage of your life.

five eaSY StepS

“Consumerism breeds excess, frustration, greed and

fundamental delusion.”

As a financial advisor, I’m lucky enough to listen to how people define their ‘ideal’ retirement, and many years later, compare

this ideal with their reality. They can often confuse success with happiness – that is, until they are able to move from material items to memorable experiences.

Being able to tap into and discuss the experiences of those who have already retired provides great insight (and shortcuts) to make sure we understand the reality of what is about to come.

There appears to be a disconnect between how society currently defines success and real, lasting happiness. When people equate owning things with greater happiness, it can make it difficult for them to make experiences their focus. In my opinion, consumerism breeds excess, frustration, greed and fundamental delusion. It is an illusion of happiness.

But in the end, retirement is your reward for hard effort and about getting what you want – that is, being happy. And if there is a secret to being happy,

it’s this: be true to yourself. Spend the time on you and

understand what makes you happy.

I'm sure you have heard it before: If we fail to plan, then we plan to fail. It’s a

cliché because it is true!

Interestingly, we plan, research and save for our first car, wedding,

children’s education and first home. Yet only one in five of us plans our finances early enough for the last 20–30 years of our lives. The others need to accept the consequences.

So, what can you do? Here are five easy steps to consider:

1. Decide what you really want and align your financial decisions. This takes an awful lot of work, which is one reason why most of us don’t do it. But once you know what you (and your family) really want, you will know what to do.

2. Know what you have available. In the beginning of some client relationships, I feel like more of a financial organiser. Identify the exact location of all information and documents that represent your financial life. Take the time to place this pile of stuff into workable order.

3. Know where your money goes. Almost half of us don’t know what we spend our money on each week, with thousands of dollars being ‘lost’ because of leaks in spending. We don't even realise how much we're actually spending on smaller purchases. If we did, and changed our habits just a little, we could actually improve our financial future.

• These purchases may appear insignificant, but thinking about the small things you spend money on each day can really make a difference between your retirement savings outliving you, or, worse, you outliving your retirement savings.

• Put simply, having a budget is the most effective tool there is to get and keep your finances under control. You will know where your money is going, where you can cut back and where you can save.

• But here’s the thing. As I mentioned in the September issue, a budget doesn’t lock us into a situation. Instead, it provides a framework within which we make future financial decisions.

YOURLifeChoices Retirement Update December 2014 17

Finance Q&a

MOREDo you have a question for Maurice? Then send it to us now.

Maurice Patane Access Financial Management AFSL 229760 Ph (03) 9500 9988E info@accessfm.com.au

“In the end, retirement is your reward for hard effort.”

4. Determine whether you will go it alone or seek professional advice. Your retirement planning is serious stuff and there are many variables which can alter your outcome. When we go it alone, we have a tendency to assume that what we do know is more important than what we don’t know.

• A qualified professional is required to meet stringent training and will support you through the maze of options you will encounter. This will include maximising your superannuation and income stream options, your Centrelink entitlements, and making sure your investments work together as well as match your goals.

• But the real benefits will often be intangible and ensure your behaviour is consistent with the promises you made to yourself. For example, a professional can:

• bring order to that pile of stuff

• stand between you and doing something silly especially when financial markets react negatively

• ensure that you stick to your plan when your neighbour, brother-in-law or someone else provides you with the next ‘sure thing’ investment.

• Regardless of which option you choose (going it alone or seeking professional advice), make sure you invest in low cost funds and don’t look at your investments each day.

5. Don’t compare yourself to others. Go back to step one and don’t be side tracked by someone else’s goals.

And here is my bonus tip:

Quite often we fall in love with the idea of retirement, believing it is the ‘magic pill’ that will ensure we ‘live happily ever after’. We then cease work only to find we have lost our identity and purpose.

I have learned that planning your retirement income needs is just as important as planning your retirement lifestyle needs. So, also think about how you will spend your time.

A good friend and client shared with me some years after his retirement what he termed ‘relevance deprivation syndrome’ – that is, being used to being someone, and then one day you are not. Fill that void early.

YOURLifeChoices Retirement Update December 201418

FoFa

The reversion to FoFA regulations has caused some confusion so Dante De Gori of the Financial Planning Association of Australia (FPA) offers some clarification.

fofa – changeS explaineD

MOREDante De Gori is General Manager Policy and Conduct at the FPA.It is the recommendation of the FPA that you first seek out the services of a Certified Financial Planner (CFP®) who is a professional member of the FPA for trusted advice in your retirement planning.

Find a planner

T he Future of Financial Advice (FoFA) reforms have endured industry lobbying, political jockeying, media scaremongering and Senate

repeal attempts, which have no doubt confused consumers, particularly retirees and pre-retirees.

Consumers want access to trusted advice from a professional, therefore it’s important to understand what FoFA means to you when you are seeking services in planning for or maximising your retirement income.

The disallowance motion of 19 November that repealed the government’s FoFA regulations means that the previous government’s FoFA laws are now in place and these include the following consumer protections and obligations on financial planners:

Best interestsYour financial planner must, under law, act in your best interests when providing you with financial advice. In practice this means that the planner must place your interests ahead of his/her own when making recommendations, such as the purchase of a product or the implementation of a strategy. Simply put, you must benefit from the recommendation and not the financial planner.

Conflicted remunerationYour financial planner is banned from receipt of remuneration that is conflicted (that is any remuneration (monetary or non-monetary) that would likely influence his/her advice). This includes commissions on investments and superannuation, volume bonuses and rebates, as well as trips to conferences and holidays. This will protect you from planners who would otherwise only recommend the purchase of a product on the basis of receipt of a commission, bonus or reward.

Fee Disclosure StatementYour financial planner must provide you with an annual Fee Disclosure Statement that outlines the fees you have paid your planner and the services you received for those fees. This will provide you with ongoing disclosure and transparent information for the previous 12 months, allowing you to decide if there is continued value from your planner and his/her ongoing services to you.

Opt-in clauseYour financial planner must, every two years, provide you with a notice of renewal for his/her ongoing fee arrangement. This means that you must opt-in if you wish to continue to receive ongoing advice and services and agree to pay the ongoing fee to your planner.

Overall the FoFA reforms are a positive move that will help consumers in need of financial advice in planning for retirement and throughout retirement. Although these laws are for all financial planners, not all planners are the same, with many who are not members of a professional body and not subject to a code of conduct or higher levels of ongoing education and professional standards.

YOURLifeChoices Retirement Update December 2014 19

suPeR uPdate

A new year is not only a good time to review how your superannuation is performing, but also, as Jeff Bresnahan explains, to check how insurance premiums

may be eroding your retirement savings.

iS Your Super funD Still right for You?

With the New Year fast approaching, many people use the holidays to reflect on their achievements throughout the year. This

often includes financial considerations, such as how much you have saved, how big a dent you may have made in your mortgage or how much you have invested.

However, one of the often forgotten considerations is the performance of your superannuation fund, both in terms of your investment returns and your level of contribution. Another key factor that many people don’t take into account is their level of life insurance cover. Insurance cover continues to be a key issue within Australia, with the majority of households deemed to be under-insured in terms of life and disablement cover when compared to world standards.

Whilst very few people hold life insurance directly through an insurance policy with a financial institution, almost all Australians with a superannuation account will hold some form of insurance cover through their superannuation fund. The cost of this insurance cover is deducted from the account balance in the fund.

In recent times, the cost of insurance cover within superannuation has increased significantly for many funds, mainly due to there being greater awareness

of the insurance held, resulting in more claims being paid.

Many members would have received communications from their superannuation fund outlining the increase in the cost

of cover but, like many, we are often too busy to take

much notice. Through SuperRatings research, we have seen increases in the cost of life and

disablement cover in superannuation of up to 156 per cent during the most recent year. What this means for someone who may have been paying $350 per year for $300,000 of life and disablement cover, is that they could now be paying as much as $890 annually.

As this premium is deducted from your superannuation account and not directly from your hip pocket, the increased cost will have a direct impact on the final benefit you receive from your superannuation fund when you retire. On this basis, it is very important to take the time to review how much cover you have in your fund and what the cost of this is to ensure it is appropriate for your needs and doesn’t drain your retirement savings.

Whilst insurance is very important, individuals should also ensure their superannuation fund is working at its best for them in relation to the levels of investment return achieved as well as the fees charged.

So to ensure you are well positioned for 2015, include a review of your superannuation fund within your New Year’s resolutions and take the time to look at not only the fees you are paying, but also your investment returns. It would also be an opportune time to review the level of insurance and its cost to ensure it remains appropriate for your personal situation.

YOURLifeChoices Retirement Update December 201420

With the New Year upon us, it’s a good time to look at some of the many financial pitfalls that can affect our financial wellbeing.

While these are numerous, here are five to consider.

Avoid investing for the wrong reasons Choose investments that best suit all of your needs and objectives. For example, it may sound attractive to place funds in an investment to minimise tax or potentially earn higher returns; however, the investment may not suit objectives you consider important, such as investment security and immediate (at-call) access.

Don’t forget to update your details with DHS for GISIf you receive Government Income Support (GIS), you have an obligation to advise the Department of Human Services (DHS), or any other relevant department, of any changes to the circumstances of you or your partner, where applicable, within 14 days of the change. This is to ensure you receive the correct amount.

Failing to report changes could mean that you either miss out on benefits or, conversely, you could be overpaid. The department recovers amounts owed as a result of overpayment.

Don’t deprive yourself of assets simply to increase GISSometimes it is necessary to help family or friends financially; however, some GIS recipients believe that reducing assets this way will increase their GIS entitlement. Deprivation rules mean that if your annual

‘gifted’ amounts exceed a certain threshold, the excess will still be assessed for five years. On top of this, you don’t receive the earnings which those funds could generate.

Not taking advantage of available opportunities and concessionsDon’t assume you are getting everything to which you are entitled. Ensure you research any concessions available, particularly in relation to discounts on rates, public transport and medical services. Many organisations as well as local, state/territory and federal governments provide a wide range of concessions on goods and services to those eligible.

If you fail to plan, then you plan to failConduct a detailed budget and put measures in place to avoid your expenditure exceeding income. Plan to repay debt, particularly high interest debt such as credit card balances.

Ensure you plan for the future. Setting goals and putting strategies in place is critical to safeguard and enhance your financial wellbeing over the long term. Research investments available and speak with a licenced financial planner, as you may not be aware of the latest products or effective strategies that can help you realise your goals.

You may think you’re financially savvy but, as NICRI’s Craig Hall explains, even the simplest money mistakes can cost you dearly.

finance pitfallS to avoiD in 2015

The National Information Centre on Retirement Investments (NICRI) Inc. is

an Australian Government funded, independent consumer agency

providing information to the general public on investment products.

MOREIf you require further information on these issues or investing in retirement, please contact NICRI. Ph 1800 020110 (toll free) or email nicri@nicri.org.au Information leaflets are also available on its website.

money exPlained

YOURLifeChoices Retirement Update December 2014 21

two oF us

Every now and again, it’s a good idea to take stock of our relationships, but as Jo Lamble explains, that doesn’t mean ending them altogether.

relationShip Stocktake

MOREFor more information on relationships, visit JoLamble.comYou may also wish to visit Relationships Australia

One of the most important factors of future happiness is the quality of our relationships. Every now and then, it’s a good idea to

take stock of our relationships and see what’s working and what’s not. If a relationship isn’t what we want it to be, it doesn’t mean that you have to call it quits. There may be things you can do to improve the dynamic. But there comes a time in some relationships when you realise you have tried everything, yet the problems remain and the effect is too draining to continue.

Obviously the relationship with your partner, if you have one, needs to be addressed first – because if that’s not working, life will be much more difficult. But our relationships with our friends and extended family also need to be regularly assessed. Perhaps you are feeling worn down by a demanding friend who always seems to need something from you. Or maybe your adult children are always willing to offload the grandchildren but rarely stay to chat. It might be an ageing parent who still manages to undermine your confidence by questioning your decisions and criticising your choices.

Here are some signs that a relationship isn’t working:• you don’t feel good about yourself after seeing them• you feel resentful• the relationship doesn’t feel like it’s two-way• you couldn’t call on them in an emergency• you feel judged.

If some of these signs ring a bell, it’s time to make some changes. You don’t have to sit down with the person and tell them what’s wrong. A relationship dynamic is similar to a dance. If only one person changes the dance steps, the dynamic can still shift. Start by being less available to the demanding person. Learn to say No more often by simply saying: Sorry, but that won’t work for me. Don’t defend yourself against criticism or judgment. Instead, simply say that you’re happy with your decisions.

If these strategies don’t improve the relationship in any way, then it might be time to cull. Once again, you don’t have to make any announcement. Simply be ‘busier’ and share less about your life. Needy people will drop off as they will find others to depend upon. And some true friends may get the wake-up call that they needed.

YOURLifeChoices Retirement Update December 201422

eat well FoR less

eat Well for leSSI t was with some degree of shock that I recently

realised I've now been cooking for six decades.

My culinary journey began in London with my mother, and then in Brussels where I learned Belgian cuisine with a housekeeper named Louise.

Mostly, I've been cooking for two, with frequent breakouts of large-scale catering. The largest was probably at G'DAY USA in Los Angeles, where our team prepared some 10,000 meals over a couple of weeks to promote Australia. That experience, and 10 years of filming Consuming Passions for ABC TV, taught me three things: keep it simple, keep it local and keep it seasonal. This is what I always try to do in my own kitchen as well.

I say ‘my kitchen’ because though my partner of 32 years, Ann, does magnificent things in the garden, I'm the captain on the culinary bridge.

Although most of my dishes are for two people, I usually prepare dishes for four if I know I can store them in the fridge or freezer. So I seldom make salads with lettuce, preferring ones that can be served over a couple of days. Or I add lettuce at the last minute, before serving.

So it is in this light that I share my Basic Rice, French Provincial Chicken and Tuna Rice Salad recipes, which involve a handy mixture of simple techniques. I hope you enjoy them.

Bon appétit! Ian Parmenter

Basic RiceA simple accompaniment for many of my dishes, this basic rice dish is cooked in my favourite way – the absorption method.

Ingredients2 cups long grain rice (such as basmati)3 cups water2 teaspoons olive oilpinch of salt¼ teaspoon white pepper

MethodIn a heavy saucepan over medium heat, toss the rice with the oil until it is coated and some of the grains have started to turn golden.

Add water, salt and pepper. (For savoury rice, chicken stock may be used.)

Cover and simmer slowly. Check after 15 minutes – if dry, add a little more water.

When all the water is absorbed and the rice is slightly nutty, it is cooked. (I usually find that 16 minutes does it.)

Leave for five minutes before serving.

Serve with your favourite meat or vegetable dishes.

YOURLifeChoices Retirement Update December 2014 23

eat well FoR less

FRench PRovincial chickenOne of the most delightful flavour combinations is tomatoes with chicken. The Italians acknowledge this fact with their pollo al cacciatore, as do the French with their poulet à la provençale. Here is an Australian recipe which is easy to make, and can be made well in advance of serving. The alcohol flaming is optional, for which you could use a couple of tablespoons of brandy instead of sherry. Reserve some of the tomato sauce for the Tuna Rice Salad (see recipe below) if you’re making it. And double the quantities to have leftovers for two. This dish freezes well. I suggest Pinot Noir as a wine accompaniment.

Tuna Rice saladUsing mostly canned foods, this is one of the simplest of recipes. It can be made with leftover cooked rice. As an option, you can also add some sauce from the French Provincial Chicken (see recipe above) to the salad. Double the quantities if you want to have leftovers for the next day.

Ingredients1 cup cooked rice1 small can of chilli tuna in oil1 can beans (butter/kidney/haricot), drained1 tablespoon pickled cucumber1 or 2 tablespoons finely chopped onion2 or 3 chopped gherkinspinch of chilli (optional)sprinkling of fried shallots (optional)1 teaspoon horseradish cream2 tablespoons tomato sauce

MethodBreak up tuna and mix ingredients together.

Ingredients300g skinless chicken thighs1 tablespoon extra virgin olive oil1 or 2 garlic cloves, peeled but kept whole2 tablespoons dry sherry (optional)250g fresh (or canned) tomatoes, roughly chopped 150ml chicken stock1 tablespoon chopped fresh basil (optional)

MethodIn a pan, brown the chicken pieces in a little olive oil along with the garlic cloves.

Over high heat, flame with a glass of dry sherry. Don’t worry about the alcohol; it will evaporate, leaving only the beautiful sherry flavours.

Once the flame has gone out, remove the chicken pieces from pan and keep aside.

Add the tomatoes and chicken stock to the pan, reducing them to a syrupy sauce. This will take about 15 minutes.

Place the chicken into the sauce. Cover the pan and simmer slowly for about 25 minutes.

Serve with rice (see recipe on page 22), pasta or creamy mashed potatoes. Garnish with basil leaves if you prefer.

YOURLifeChoices Retirement Update December 201424

leGal news

With his five clear-cut steps for estate planning, Rod Cunich suggests how you can reduce risks associated with the uncertainties of life.

eState planning in five clear-cut StepS

Estate planning is a process. The outcome commonly involves preparing basic documents such as a will. But in some

cases, more complex documents are needed.

However, it’s not only about the outcomes.

Often the journey through the process is just as important as the documents. The process helps you identify issues that require addressing long before you pass away.

Here are five steps which you can do at home to help identify and address any concerns you may have. By the time you work through these, engaging a lawyer to produce documents will be an easy task.

1. Identify the basicsWrite out a list of assets which you treat as ‘yours’, and then separate these assets into those assets owned by:• you personally• you jointly with someone else• a company or trust • a superannuation fund.

Next, calculate whether your family has sufficient money if you die prematurely.

2. Identify your familyWhile it may seem obvious, it’s a good idea to list your family members to obtain a clear, overall picture of who they are. List anyone who is an immediate family

member, and anyone you want to include in your will. Such

as:• your spouse/partner• children from your current

relationship

• children from any prior relationships• any person to whom you wish to leave particular

assets.

Consider making a note of any special arrangements you wish to take place following your death, such as allowing someone to live in your home for a period of time after you pass away.

3. Special Concerns If you have any concerns about what might happen after your death, it’s a good idea to make a note of them now. For example, you may wish to list any potential beneficiaries who:• are exposed to bankruptcy or divorce• can’t handle money due to mental capacity or an

addiction (e.g. drugs, gambling, etc.)• are under the influence of a third party you don’t

trust• have special needs.

YOURLifeChoices Retirement Update December 2014 25

MORERod Cunich is National Practice Group Leader for Wealth Protection, Succession & Estate Administration at Slater & Gordon.

For more information visit the Slater & Gordon website at: www.slatergordon.com.auThe information provided by Slater & Gordon in this article is general in nature and should not be relied upon as legal advice. Legal advice should be sought for specific matters.

4. Ongoing responsibilitiesIf there are important responsibilities which need attention during a potential illness or accident, or after your death, list whom you’d like to be responsible. For example, whom:

• would you wish to care for your children if they are still minors?

• do you trust to look after your financial affairs?

• do you trust to look after your health and medical affairs?

Also, if you run a business, what are your plans? Do you want it to be sold, passed on to your children or someone else?

5. Surprises and disappointments List any person who might be surprised or disappointed about their ‘gift’, or who you nominate as executor or power of attorney. Or anything else that comes to your mind. Have a conversation with your family about your intentions and iron out any problems. Don’t leave it up to them to ‘fight it out’ when you are gone.

Congratulations you have now completed the heavy lifting involved in the process of estate planning.

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YOURLifeChoices Retirement Update December 201426

RemaininG Relevant

Retirement doesn’t have to signify an end to your income – or identity. Here, Lesh Karan shares seven ways to keep earning money.

hoW to booSt Your retirement income

We are living for much longer. As such, there’s a real need to ensure we can fund our retirement years. So if you find

your income isn’t stretching far enough, these seven income-earning ideas may help make your retirement all the more enjoyable. They may also offer a renewed sense of self, even though you’ve ‘officially’ stopped heading into work.

1. TutorIf you have a particular strength in English and maths, why not use it to your advantage by helping students who are struggling in such subjects? Start by approaching people within your community – i.e. those who know and trust you. You could also advertise on local community boards. Once the word of mouth spreads, you can take on as much tutoring as you please.

2. Freelance writing and editingDo you have a natural love of writing? Or perhaps you think of yourself as a grammar ‘snob’? Then why not consider using those talents for a freelance writing or editing job?

If you've retired from a similar job, you’re likely to have some contacts you could approach. Otherwise, look for organisations seeking technical writers and editors. Or make direct contact with the editor of magazines and other publications which you enjoy. If that’s not your thing, you could offer services such as writing and editing professional resumés from home. And don’t forget to collate samples of your writing to show potential clients.

This kind of job almost always requires a computer with Microsoft Word software, and reliable internet access. The Australian Writer’s Marketplace is a handy resource.

3. Make artDo you love to paint, sew, make things out of wood or knit? Whatever your forte, it could become an income stream.

Consider Sheryl’s story. She retired at the age of 60, but had a penchant for painting – which always took a back seat while she worked in a high-pressure corporate job. After retiring, Sheryl further developed her creativity at university, which then opened doors for exhibiting her artwork and selling it at ‘arty’ prices.

While you don’t need to go to the extremes of studying and exhibiting, eBay and Etsy make it easy to showcase and sell your creations online.

4. After-school careMany schools run before and after school care programs for parents who work. These schools are often seeking people who are experienced and have a rapport with children. All you need is some patience and a Working with Children Check.

Another option is to care for children in your home by becoming a Family Day Care Educator. You’ll need a Certificate III in Early Childhood Education and Care, which you can obtain online over 120 hours. You’ll find all the details you need at Family Day Care Australia.

YOURLifeChoices Retirement Update December 2014 27

RemaininG Relevant

5. ConsultIf you’ve been working since your early twenties, you’ll have a few decades’ worth of skills and experience under your belt. This can benefit people, companies and even entire industries, so you might as well use your capabilities for your own benefit.

The upside of consulting is that you can do what you did before you retired, but on a much more accommodating – and self-directed – scale. To get started, simply contact the organisations and people for whom you’ve worked in the past and let them know you’re available for short-term projects.

6. Dog walkingWould you love to have a dog without the full time commitment or need for a yard? Why not consider walking dogs for owners who are too busy to do it themselves? This is a great way to walk close to home and keep fit. Consider informing your neighbours and placing a notice on community bulletins. You could also advertise on Gumtree.

7. Homestays and B&B staysIf you have a spare room, rather than incurring the expense of downsizing, why not consider using it to earn some income? You could board students, refugees or offer the rooms for bed and breakfast stays.

If you enjoy meeting new people from different cultures, the Australian Homestay Network connects Australian students with hosts throughout Australia. It also has an initiative called the Community Placement Network, in which short-term accommodation is offered to eligible asylum seekers.

If that’s not for you, why not use airbnb, a clever website founded in 2008 in San Francisco? It allows people to list their accommodation all over the world. You can offer a whole

house, apartment or a single room in your home. Airbnb also offers support in the event of something going wrong.

Remember to declare any earnings to the Australian Tax Office. In some cases, you

may need an Australian Business Number (ABN) as well as your tax file number. Your earnings

may also affect your Centrelink payments, so make you sure you obtain qualified advice.

YOURLifeChoices Retirement Update December 201428

lessons leaRned

How does a marriage recover from a 50-year secret? With deep affection and acceptance says Barrie Cassidy in his moving tale of love and war.

leSSonS learneD barrie caSSiDY

Dad was reluctant to talk about the war for a long time. At first, we, his children, were too young, so it would have been inappropriate.

But then we never seemed to reach an age where we were quite old enough.

And then in the 1980s, when he was cutting wood with my brothers up in Chiltern, he started to open up. On my next visit, I asked whether I could record his experiences in a family diary, and ended up with a 3000-word record. One day I was talking about this on radio to host Jon Faine, and I was subsequently asked to share Dad’s memories in an article for The

Drum, an ABC current affairs website. Next thing, I had two book offers and realised that there was a much bigger story to be revealed. But taking 3000 words to 50,000 would require a lot of work.

When Private Bill was finished, I shared it with my four brothers and sister during a family time-out on a houseboat on the Murray. The book revealed Mum’s secret. Mum and Dad had already passed away, so I needed my siblings’ permission. Two of them were initially uncomfortable, but all eventually agreed that this project should go ahead.

The research for Private Bill was exhilarating, visiting museums and libraries and uncovering names, places, people and anecdotes in Australia, New Zealand, London and Europe. I even managed to locate three eyewitness’ accounts of Dad’s time as a Prisoner of War (POW).

In the early years, Mum and Dad’s marriage was constantly tested. They only had three years together before he went to war and he was away for five. He left an 18-month-old child and returned to a six-year old. Upon his return, they both experienced a great deal of apprehension about whether they would be able to pick up the pieces. But when they were reunited, they knew very quickly that the love was still there.

In 1991, they had been together for 53 years and were living an ordinary, but happy life when a letter arrived from a man called Richard saying that he believed our Mum was also his mother. Mum confessed immediately that this was likely to be true. As we grew up, we had all just thought it an oddity that Mum would never leave the house but, in retrospect, she had a fear that in such a small town, she would run into the man with whom she’d had a relationship.

Dad was in his 80s, and Mum’s disclosure triggered Post Traumatic Stress Disorder (PTSD). What troubled him the most was that Mum could keep such a secret for 50 years. He spent days of moping, simply not knowing how to respond.

YOURLifeChoices Retirement Update December 2014 29

lessons leaRned

Mum made five separate – and difficult – phone calls to their children. And she stayed on the phone as long as it took to try to share some kind of understanding of how this had happened. Circumstances had created the affair. First her husband was in Greece and missing. Then he was wounded and missing. And that was all she knew for years. Dad just sat and listened. And afterwards he said, “We have to deal with this together. We need to face it and get on with it.”

So they did. Together they went to visit Richard, Mum’s newfound son, and Dad sat through their reunion. In the long run, this extraordinary revelation enhanced their marriage. An even deeper affection emerged.

I couldn’t have written this book while my parents were still alive; it would have been too difficult for them. And I had last minute pangs before

publication because I felt like such a snitch. But my wife, Heather, said Mum’s secret was a really important part of their story.

Dad’s story teaches us all the importance of being more open. He couldn’t talk to his young family. And he had seen how the Germans treated Russian prisoners, had a sense of the genocide of the Jews, the cruelty of Japanese captors towards Australian servicemen. As such, he felt it was not ‘so bad’ for him, so he withdrew when he should have opened up. There were ex-POWs who lived in the district but he didn’t talk much with them. Mum didn’t want to talk about the war years either. She wanted to move on, so they were both bottling things up.

I took three months’ leave to write Private Bill. And, yes, I did wonder what impact it would have on my role as host of The Insiders. But I learned that I am not yet ready to disengage. I now work a four-day week. Something had to give, so I relinquished my role on The Outsiders to get more time – and I don’t regret that for a second.

Dad died five years before Mum, and they had fully reconciled. But she still needed constant reassurance from him. I’ve learned that we can’t just say something once and think it has settled a situation – we all need far more than that.

MOREBarrie Cassidy’s book Private Bill: In Love and War is published by MUP, and is available from all good bookstores.

YOURLifeChoices Retirement Update December 201430

discounts and deals

Save money and still have some fun with these 10 excellent deals and discounts on entertainment, dining, activities, motoring, travel, accommodation and health.

DiScountS anD DealS

EntertainmentFrock up and enjoy a night at the Opera! Simply show your Seniors Card to receive concession prices. www.opera.org.au

Dining Looking for a place to dine in Qld, NSW or WA? Try a Sizzler Restaurant, they offer a 20 per cent discount to all seniors. www.sizzler.com.au

Feel like chicken tonight? Drop into your local Red Rooster to receive 10 per cent off your meal.www.redrooster.com.au

Activities If you find yourself in Sydney or Dubbo, why not visit the animals at either city’s Taronga Zoo? Save over $10 on entry with your Seniors Card. www.taronga.org.au

MotoringWhen your car needs a tune up, visit a Bob Jane T-Marts store and receive 5 per cent off all their services. www.bobjane.com.au

TravelAre you planning a holiday to France? France Tourism is offering 5–10 per cent discount on accommodation, tours and holiday packages for all Senior Card holders.www.francetourism.com.au

AccommodationEnjoy 10 per cent off the price and a two-for-one meal at participating restaurants when you book a luxury getaway with SilverNeedle Hotels. Just quote ‘Senior Stays’ at the time of booking.www.silverneedlehotels.com

If you’re on the road, why not stop in at Port Fairy Caravan Park and receive a 10 per cent discount with your Seniors Card?www.caravanwa.com.au

HealthDo you hold a Seniors Card? Then you’ll pay only $5.90 for most generic PBS prescriptions when you fill your PBS scripts with Chemist Warehouse.www.chemistwarehouse.com.au

Is it time to review your health insurance? Save 15 per cent when you request a quote from Apia online. www.apia.com.au

YOURLifeChoices Retirement Update December 2014 31

diaRy dates

The start of the year can be hectic and important dates can slip by; here are some key days for you to put in your diary.

DiarY DateS januarY – march

January 1 January New Years Day: Welcome to 2015!

Have you decided on any New Year resolutions?

4 January World Braille Day: Today is the birthday of Louis Braille; the man who invented the Braille language which helps blind people read and write.

11 January Human Trafficking Awareness Day: A day dedicated to raising awareness of sexual slavery and human trafficking worldwide.

19 January Martin Luther King Day: Celebrate the birth of this influential American civil rights leader.

26 January Australia Day: Throw another shrimp on the barbie!

February 2 February Groundhog Day: According to

tradition, the groundhog emerges from hibernation; if it sees its shadow, it returns to its burrow for six weeks, as a sunny day indicates a late spring, while a cloudy day would mean an early spring.

5 February World Nutella Day: The one day it’s ok to indulge in this choc–nutty goodness!

14 February Valentine’s Day: Don’t forget to send flowers or a card to your loved one.

18 February Ash Wednesday: The anniversary of one of the most devastating natural disasters in Australia.

19 February Chinese New Year: Today marks the beginning of Chinese New Year, the year of the Sheep.

March 8 March International Women’s Day: A day

to recognise, respect and appreciate women, and their economic, political and social achievements.

12 March World Kidney Day: It’s very important to educate yourself on the importance of good kidney health.

17 March Saint Patrick’s Day: To be sure, to be sure! Enjoy today with a pint of Guinness.

20 March March Equinox: It occurs twice a year, when day and night are of approximately equal duration.

29 March Palm Sunday: The Sunday before Easter and Jesus’ triumphal entry into Jerusalem.