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Top politicians not so calculated after all

New South Wales Education Minister Sarah Mitchell and her counterpart in the opposition, Prue Car, were put to the test while appearing live on 2GB. The two were chatting to radio host Ben Fordham after a pre-election debate when he presented them with a challenge: a problem from the Year 7 NAPLAN test’s Numeracy section. NAPLAN tests typically consist of multiple choice questions and ones where students must write their answers in the spaces provided. While calculators are permitted outside of the short non-calculator sections, they were far from the hands of Sarah and Prue as Ben sprung his test upon them. Ben opened by explaining to the two that they had to solve the question without the use of the handy devices, and that they had room to show their working, just as any Year 7 would when faced with the same test. “Pears cost $4 per kilogram,” Ben explained, reading from the question posed to the ministers, “Ben buys 4.15 kilograms of pears. How much does Ben pay for the pears?” The two wasted no time in putting pen to paper and getting started, with Ben chuckling that they were “busily working away.” Prue finished working first, cradling her chin in her hand as Ben asked if she wanted to hand in her sheet, before he explained to Sarah when to fill in her answer. “Just like the students do,” he said, “this is a test environment. Your Year 7 students in New South Wales have got to face these questions.” “You’ve outdone yourself with this today, Ben,” Prue remarked, while Sarah continued her calculations. After roughly one minute, both sheets were in Ben’s hands, and he was ready to announce the results. Prue, despite finishing first, got her answer wrong. Upon hearing the news, the minister burst into laughter, with an amused Sarah piping up that she “might be too, Prue.” Ben went on to repeat the question, and shared Prue’s answer of $4.15. “The minister Sarah Mitchell,” he continued, “has got this one right!” The correct answer to the problem? $16.60. “Can I just say, English was my strong suit,” Prue declared in light of her defeat. And to the great amusement of both Prue and Ben, Sarah announced, “so was mine, Prue!” Images: 2GB

News

We calculated the impact of ‘long COVID’ as Australia opens up. Even without Omicron, we’re worried

Over the past two years, we’ve learned COVID-19 survivors can develop a range of longer-term symptoms we now call “<a href="https://theconversation.com/long-covid-a-public-health-experts-campaign-to-understand-the-disease-152212">long COVID</a>”. This includes people who did not have severe illness initially. Such <a href="https://www.who.int/publications/i/item/WHO-2019-nCoV-Post_COVID-19_condition-Clinical_case_definition-2021.1">longer-term symptoms</a> can affect multiple systems in the body. This can result in ongoing, severe fatigue plus a wide range of other symptoms, including pain, as well as breathing, neurological, sleep and mental health problems. So far, Australia has had far fewer COVID-19 cases than many other nations. But as we <a href="https://www.australia.gov.au/framework-national-reopening">re-open</a>, this situation may change. So we will likely see more long COVID in the months and years ahead. Our research, which we posted <a href="https://www.researchsquare.com/article/rs-1066181/v1">online as a pre-print</a> and so has yet to be independently verified, examined the shifting burden of disease of COVID-19 as Australia re-opens and as high vaccination rates reduce mortality and severe illness. We show how long COVID will increasingly drive the burden of COVID illness, even as death rates decline. We <a href="https://iht.deakin.edu.au/wp-content/uploads/sites/153/2021/12/Briefing-Paper_Long-Covid_Final.pdf">also estimate</a> the likely numbers of long COVID cases we can expect in Australia over the two years following reopening. We wrote this <a href="https://iht.deakin.edu.au/wp-content/uploads/sites/153/2021/12/Briefing-Paper_Long-Covid_Final.pdf">briefing paper</a> before the rise of Omicron, the impact of which we’re yet to fully understand. <h2>Here’s what we did and what we found</h2> We examined the 2021 Delta outbreaks in <a href="https://www.coronavirus.vic.gov.au/victorian-coronavirus-covid-19-data">Victoria</a> and <a href="https://www.health.nsw.gov.au/Infectious/covid-19/Documents/covid-19-surveillance-report-20211111.pdf">New South Wales</a> in which nearly 140,000 people had been infected by the end of October. We estimated long COVID prevalence using two sources. A large dataset <a href="https://www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/conditionsanddiseases/bulletins/prevalenceofongoingsymptomsfollowingcoronaviruscovid19infectionintheuk/1april2021">from the UK</a> found more than 13% of people had symptoms after 12 weeks. A much smaller study <a href="https://www.sciencedirect.com/science/article/pii/S2666606521001024?via%3Dihub">conducted in NSW</a> found about 5% had symptoms over roughly the same period. Our modelling suggests, by the end of October, the combined Victoria and NSW outbreaks may <a href="https://iht.deakin.edu.au/wp-content/uploads/sites/153/2021/12/Briefing-Paper_Long-Covid_Final.pdf">have already led to</a> 9,450–19,800 people having developed long COVID that could last 12 weeks after their COVID infection. Even more will have experienced long COVID symptoms for a shorter time: 34,000-44,500 people will likely have symptoms for at least three weeks after first becoming ill, but our model indicates more than half will then recover over the following nine weeks. We also estimated the likely consequences for long COVID if we follow Australia’s national re-opening plan, based on interim modelling from the <a href="https://www.doherty.edu.au/uploads/content_doc/DOHERTY_MODELLING_INTERIM_REPORT_TO_NATIONAL_CABINET_17TH_SEPTEMBER_2021.pdf">Doherty Institute</a>, which has since been updated. The Doherty Institute modelled various scenarios with different vaccination rates and public health measures in place. These gave different estimates of COVID-19 cases. We combined these with our upper and lower estimates for long COVID prevalence. We calculated that more limited relaxation of public health measures could generate 10,000-34,000 long COVID cases (people with symptoms lasting at least 12 weeks). More complete relaxation of public health measures could lead to 60,000-133,000 long COVID cases. Based on the longer-term UK data for long COVID prevalence, we calculated 2,000-11,000 people might still be sick a year after their initial infection. What we cannot be absolutely certain about is the impact of vaccination on the expected number of long COVID cases. Some studies suggest that if vaccinated people become infected, this reduces their chance of developing long COVID, but <a href="https://www.nature.com/articles/d41586-021-03495-2">the evidence remains uncertain</a>. <h2>Many impacts, beyond health</h2> Long COVID can be a debilitating and distressing health condition. It also has a number of economic impacts, for the health system and people’s ability to work. For instance, people with long COVID require <a href="https://ahha.asn.au/publication/health-policy-issue-briefs/deeble-issues-brief-no-40-managing-long-term-health">coordinated care</a> across a range of different health services and specialties. Recent data from the UK’s <a href="https://www.ons.gov.uk/peoplepopulationandcommunity/healthandsocialcare/conditionsanddiseases/bulletins/prevalenceofongoingsymptomsfollowingcoronaviruscovid19infectionintheuk/2december2021">Office for National Statistics</a> indicate that around 1.2 million people reported long COVID symptoms in the four weeks to the end of October. The UK health secretary <a href="https://www.independent.co.uk/news/health/sajid-javid-long-covid-nhs-b1934861.html">said he was alarmed</a> at the growing scale of this problem for the National Health Service. Indeed, attempts to provide long COVID care through specialised hospital-based clinics in the UK and elsewhere have led to <a href="https://www.thetimes.co.uk/article/long-queues-for-long-covid-clinics-jk8jr7tt6">long waiting times and uneven access</a>. <a href="https://images.theconversation.com/files/436524/original/file-20211209-23-1lleiea.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/436524/original/file-20211209-23-1lleiea.jpg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="Exhausted health worker leaning on hospital wall holding cup of coffee" /></a> Health systems will be under strain, particularly if health workers are struggling with long COVID. <a href="https://www.shutterstock.com/image-photo/portrait-tired-exhausted-nurse-doctor-having-1698233623" class="source">Shutterstock</a> By contrast, Australia needs to <a href="https://ahha.asn.au/publication/health-policy-issue-briefs/deeble-issues-brief-no-40-managing-long-term-health">focus urgently on</a> identifying and counting long COVID. It also needs to establish mechanisms to coordinate care for long COVID by mobilising resources across the community and private sectors, not just public hospitals. Meeting the emerging needs of people with long COVID represents an additional burden on health-care systems <a href="https://www.mja.com.au/journal/2021/215/11/entering-australias-third-year-covid-19">already battered</a> by COVID and rapidly rising backlogs of care for other conditions. If health-care workers are <a href="https://pubmed.ncbi.nlm.nih.gov/33830208/">particularly at risk</a> of long COVID as some people claim, this will further stretch health systems as they take time out to recover or leave the workforce. Beyond health care, long COVID again highlights weaknesses which were made clear early in the COVID-19 pandemic, but which have not yet been remedied. COVID-19 has <a href="https://www.theguardian.com/australia-news/datablog/2021/oct/12/delta-deaths-expose-australias-great-disadvantage-divide">more severely affected</a> those who are socially and economically disadvantaged, and who rely on insecure employment. We expect long COVID to continue to be over-represented in this already disadvantaged population. <h2>Avoiding COVID-19 in the first place</h2> While societies around the world grapple with addressing the types of disadvantage the pandemic has exposed, there are several steps individual people can take to minimise their risk of long COVID. Obviously, this means minimising your risk of COVID-19 in the first place. This means vaccination, mask wearing where appropriate, and complying with other public health measures. Meanwhile, if you test positive for COVID-19, isolate early, rest and do not return to work until you have fully recovered.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/168662/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/martin-hensher-856597">Martin Hensher</a>, Associate Professor of Health Systems Financing & Organisation, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> and <a href="https://theconversation.com/profiles/mary-rose-angeles-1274581">Mary Rose Angeles</a>, Associate Research Fellow, Health System Financing and Sustainability, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-calculated-the-impact-of-long-covid-as-australia-opens-up-even-without-omicron-were-worried-168662">original article</a>. Image: Shutterstock

Caring

How much do you need to retire comfortably?

Calculating how much money you’ll need for your retirement can be difficult because you need to take a number of factors into account including how much money you have now, how long it will last you and what your plans are for your future. The other factors you need to take into account include your lifestyle and the number of years you’ll spend retired. Additionally, estimating how much you’ll have when you plan to retire depends on factors such as your current salary, super balance and assets. With so many factors, it’s easy to see why you might need a retirement calculator to get an idea of your retirement savings needs. Companies such as AMP have <a href="https://www.amp.com.au/retirement/calculator/retirement-calculator">retirement calculators</a> on their sites and you can use these to get an indication of whether there’s a shortfall between how much you are estimated to have and how much you’ll need in retirement, and put a plan in place to address the situation. How much is enough for retirement? The Association of Superannuation Funds of Australia (ASFA) estimates that Australians aged around 65 who own their own home and are in relatively good health, will need between $535 and $837 per week for one person and between $774 and $1186 per week for a couple. The lower amount will be for a more modest lifestyle but this is still better than living on the <a href="https://www.amp.com.au/retirement/prepare-to-retire/retirement-pension-types">age pension</a>. While the higher amount would be for a more comfortable lifestyle with a broad range of leisure and recreational activities – including domestic and international travel. For Australians on above-average incomes, another rule of thumb to estimate how much money you’ll need in retirement is to assume you will require 67% (two-thirds) of your pre-retirement income to maintain the same standard of living. What are your retirement lifestyle expectations? Ultimately, how much money you'll need for your own retirement is very personal, and will depend on your own situation, wants, needs and lifestyle expectations. It may help to factor in your day-to-day spending habits, your recreational activities and hobbies and whether you’ll be entering retirement debt-free. How long will you work for? The age at which you retire can have a significant impact on how much money you have and how much money you need in retirement. It can depend on factors such as your health, debts, super balance, age you can access your super, whether you have dependants and your partner’s retirement plans (if you have one). How long will you be retired? Keep in mind if you're planning to retire at around the age of 65, it’s likely you’ll live for another 20 years or so. Men aged 65 can expect to live to 84.6 years, while women can expect to live to 87.3 years. How much money will you have in retirement? The money you use to fund your life in retirement will likely come from a range of different sources including the following: Superannuation Knowing your super balance is a crucial part of planning for retirement because it's likely to form a substantial part of your retirement savings. The age pension Depending on your circumstances and assets, you could be eligible for a full or part age pension or alternatively, you may not be eligible for government assistance at all. Check up on this by <a href="http://www.yourpension.com.au/APCalc/">visiting this age pension site</a> which has a calculator and you can ascertain your eligibility. Investments, savings and inheritance You may be planning to downsize your house, sell shares or an investment property, or use money you’ve saved in a savings account or term deposit to contribute to your retirement. Or perhaps an inheritance or the proceeds from your family’s estate may help you out in your later years. So these will all need to be taken into account. How retirement calculators can help If you use one of the <a href="https://secure.amp.com.au/ddc/public/ui/retirement-needs/">retirement calculators</a> available online, you can work out how much you’ll need in your retirement. Often when you go through all the steps of using a retirement calculator, it shows you how much you’ll need to fund your entire retirement and sometimes this points to a shortfall. While this news may seem scary, it’s not an uncommon situation. Luckily, finding out about the possible shortfall now means there may still be ways to boost your savings before retirement. What do you do if you won’t have enough to retire? If you find you’re facing a shortfall in retirement, there are several things you can do to get your retirement on track. You could consider boosting your super through additional contributions, delaying your retirement, adjusting your retirement lifestyle expectations, or selling other assets. Simply by having an idea of your current and projected retirement savings, thanks to using retirement calculators, you can work out a plan to improve your situation. The earlier you start, the easier it may be for you to reach your retirement goals. Image: Getty Images

Retirement Income

Online calculator reveals how likely you are to die from coronavirus

A team of scientists in the UK have built a calculator that can predict a person’s risk of dying from COVID-19. The <a href="http://covid19-phenomics.org/PrototypeOurRiskCoV.html">online tool</a>, developed by researchers at University College London, predicts a one-year mortality rate based on factors such as sex, age, and underlying conditions as well as the levels of coronavirus infection in the population and strain on the health service. The calculator is a part of <a href="https://www.thelancet.com/pdfs/journals/lancet/PIIS0140-6736(20)30854-0.pdf">a study</a> involving 3.8 million health records from England, which concluded that “stringent” restrictions must be sustained to prevent excess deaths. Lead author Dr Amitava Banerjee said older people, particularly those with underlying conditions, were asking what easing coronavirus restrictions could mean for their health. “For example, we show how a 66-year-old man with chronic obstructive pulmonary disease has 6 per cent risk of dying over the next year and there are 25,000 ‘patients like me’ [men of the same age with the same condition] in England,” he said. “The calculator estimates 164 excess COVID-19-related deaths on top of the expected 1,639 deaths over a year in patients in a similar situation. “Our findings show the mortality risk for these vulnerable groups increases significantly and could lead to thousands of avoidable deaths.” The calculator works using a given age, sex, and underlying health condition along with the level of suppression measures in the area using a mortality impact of 1.5 per cent. The tool then calculates the one-year mortality rate, or the number of people with similar characteristics in England who would have died pre-coronavirus from other causes. It also forecasts the excess mortality under the COVID-19 emergency – that is, the number of additional deaths among the group of people due to coronavirus. The study’s co-author Professor Harry Hemingway told <a href="https://www.independent.co.uk/news/health/coronavirus-death-risk-calculator-uk-university-college-london-study-a9511591.html">Independent.co.uk</a>: “Our findings emphasise the importance of delivering consistent preventive interventions to people with a wide range of diseases, who are cared for by a wide range of clinical specialties.”

Technology

Can you solve this maths quiz without using a calculator?

Are you ready to put your maths skills to the test? According to Playbuzz user Bruce Boyena, only one in 10 people can pass this tricky 12-question quiz without using a calculator. The quiz starts off relatively simple but don’t be deceived, towards the end the questions get a whole lot tougher. So grab some paper, test yourself, and let us know how many did you get right? Note: To discover the answer, click on one of the options given under the question. The correct answer will be highlighted in green. <div class="pb_feed" data-embed-by="0b63bda6-9ef8-47b6-abb4-7474ed187ba2" data-item="564c1c6f-ebc7-4ad2-af5b-12a75aef5504" data-recommend="false" data-game-info="false" data-comments="false" data-shares="false"></div>

Mind

The one thing to check before applying for a home loan

A home loan is a daunting prospect for anyone, let alone seniors who may have to make do on a fixed income. But if you’re planning on a sea or tree change it may be a necessity. So how do you find the right loan for your situation? Well, the good news is <a href="http://www.oversixty.com.au/finance/comparison-tables/home-loans/mortgage-calculator/?utm_source=over60&utm_campaign=RateCity&utm_medium=in-article-link-mortgage-calculator&utm_content=comparison-tables" target="_blank">there’s now a tool</a> that can help you navigate the clutter of financial products available and identify the one that best suits your individual needs. Over60 Comparison Tables has launched a <a href="http://www.oversixty.com.au/finance/comparison-tables/home-loans/mortgage-calculator/?utm_source=over60&utm_campaign=RateCity&utm_medium=in-article-link-mortgage-calculator&utm_content=comparison-tables" target="_blank">mortgage calculator</a> that’s makes it easy to visualise and compare the home loans available and ultimately make the right call. Powered by RateCity, one of Australia’s leading comparison websites, the mortgage calculator is full of information, with an interface that is easy to use and understand. Filter products by Property Value, Loan Amount, Interest Rate and Loan Term, as well as Repayment Frequency and Repayment Type. The <a href="http://www.oversixty.com.au/finance/comparison-tables/home-loans/mortgage-calculator/?utm_source=over60&utm_campaign=RateCity&utm_medium=in-article-link-mortgage-calculator&utm_content=comparison-tables" target="_blank">mortgage calculator</a> will break down your home loan repayments, interest payable and the total cost of the loan, while also generating a graph of the repayments schedule. To find out which home loan is the right choice for you, compare it to the market with the Over60 Comparison Tables <a href="http://www.oversixty.com.au/finance/comparison-tables/home-loans/mortgage-calculator/?utm_source=over60&utm_campaign=RateCity&utm_medium=in-article-link-mortgage-calculator&utm_content=comparison-tables" target="_blank">mortgage calculator.</a>

Money & Banking

New online tool calculates your fitness age

We all have those moments when we forget how old we really are until we look in the mirror, only to find what looks back at us doesn’t reflect how we feel on the inside. Researchers at the Norwegian University of Science and Technology understand this, and have developed an exciting new tool to help us figure out how old our bodies really are. Simply by entering your gender, height, weight, waist circumference and answering a few lifestyle questions, this smart calculator can determine your VO2max – that is, how much oxygen the body can take in – and tell you how fit you actually are. The Body Mass Indicator (BMI) system has long been questioned for its accuracy, as it doesn’t take into account body fat, muscle mass and waist circumference. The tool’s developers say VO2max is “the most precise measure of overall cardiovascular fitness,” giving an indication of your body’s ability to take in and distribute oxygen. The calculator then measures your VO2max score against others in your age group, revealing your true fitness age. Researchers hope that those who receive a fitness age older than their biological age will be inspired to change their lifestyle habits and decrease their risk of death from lifestyle-related diseases. In fact, studies have shown that 20 minutes of intense exercise three to five times a week can help improve VO2max scores. To find out your fitness age, <a href="https://www.worldfitnesslevel.org" target="_blank">click here</a>, and share your results with us in the comments below. Related links: <a href="/health/body/2016/07/stay-motivated-to-exercise-during-winter/">5 ways to stay motivated to exercise during winter</a> <a href="/health/body/2016/07/do-we-gain-weight-in-winter/">Do we really put on weight over the winter months?</a> <a href="/health/body/2016/07/doctors-tips-on-living-a-long-and-healthy-life/">Doctor’s tips on living a long and healthy life</a>

Body

Free online retirement calculators are misleading

Free online retirement calculators are a dime a dozen these days, and a recent study seems to indicate that this may well be an area in life where you get what you pay for. A <a href="http://www.cnbc.com/2016/05/08/using-a-free-online-retirement-calculator-be-cautious.html" target="_blank">recent paper</a> from Barry S. Mulholland, assistant professor, Dept. of Personal Financial Planning, Texas Tech University, suggests that many of these online calculators are offering misleading advice and should only ever be used with upmost of caution. The study also suggest that many of these tools offer a level of analysis that is not very accurate, in terms of what an individual needs to enjoy a secure retired life. For the study, Professor Mulholland and his colleagues compared the advice given by professional adviser software with that which was given freely by over 36 of the most commonly-used online retirement calculators found on the internet. And the results where startling. Professor Mulholland wrote, “Only 30 percent of the online tools suggested the clients needed to save more — the other 70 percent gave inaccurate advice by suggesting the family was on track for their retirement goals or gave an answer that wasn't clear on what they needed to do.” “But even the 30 per cent of tools that suggested more savings gave wildly different answers, so some of those may not be very useful.” Professor Mulholland’s paper suggests that part of what makes the advice offered by these online retirement calculators so misleading is the fact that even at the best of times they’re generally drawing from a limited amount of information. Professor Mulholland suggests that if you are going to use an online retirement calculator, make sure it’s one that takes the following aspects into account: <ul> <li>Age</li> <li>Income</li> <li>Assets</li> <li>Rates</li> <li>Household structure</li> </ul> Mulholland suggests in preparation of retirement it’s important to seek professional advice, and, “Keep reassessing on a regular basis... what you need to save for retirement and make the appropriate adjustments over time to successfully meet your retirement goals.” Related links: <a href="http://www.oversixty.co.nz/finance/retirement-income/2016/04/planning-an-emergency-fund-retirement/">Do you have an emergency fund?</a> <a href="http://www.oversixty.co.nz/finance/retirement-income/2016/03/maori-veteran-humbled-by-support-for-cut-pension/">Maori Veteran humbled by support for cut pension</a> <a href="http://www.oversixty.co.nz/finance/retirement-income/2016/03/products-up-to-date-ageing-population/">Are products keeping up to date with the ageing population?</a>

Retirement Income

How to calculate the bank balance you’ll need to retire

When most people think about retirement, they foresee a need to make sacrifices and reduce their every day spending. For those of you still able to avoid quitting work just yet, it’s imperative that you begin a thorough check on the reality of your spending.Do you know exactly how much you spend in a day?Knowing how much you cough up before retirement is crucial in determining how much you will need when you’ve completely phased out of working. Budgeting for groceries and bills don’t cut it.What are usually left out of budgets are things like: gifts, cash spending, and entertainment. These things are usually averaged out to an approximate number – which is all right when you’re still earning a full-time or part-time income. But when that stops, not looking at how much you really spend each year might leave you underestimating by 20 to 30 per cent.Instead of a guesstimate, pull out your credit card reports and bank statements from the last three months and see how they stack up to what you think your average is. If you’re missing any annual expenses from these statements, add them in to your total. This will help you get a clearer picture of how much you spend on average across the year.You can get an even clearer picture by doing this exercise for the last twelve months in order to capture everything.Since there’s no guessing involved, and the numbers don’t lie, you’ll be armed with the knowledge of exactly how much you’re going to need once you reach full retirement – and whether you need to start cutting back your spending now in order to enjoy a more comfortable retirement.

Retirement Income

How to calculate the bank balance you’ll need to retire

Retirement Income

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Top politicians not so calculated after all

We calculated the impact of ‘long COVID’ as Australia opens up. Even without Omicron, we’re worried

How much do you need to retire comfortably?

Online calculator reveals how likely you are to die from coronavirus

Can you solve this maths quiz without using a calculator?

The one thing to check before applying for a home loan

New online tool calculates your fitness age

Free online retirement calculators are misleading

How to calculate the bank balance you’ll need to retire

How to calculate the bank balance you’ll need to retire

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