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Young homeowners are more likely to use their home as an ‘ATM’ than their Boomer parents. Here’s why

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> and <a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> For many Australians, the family home is their largest financial asset. With an increasing variety of ways to tap into home equity, the temptation to access this wealth is ever growing. Homeowners increase the debt owed on their home when they borrow against their <a href="https://doi.org/10.1080/02673037.2013.783202">equity</a>. Standard mortgage home loans now provide facilities for relatively cheap or free withdrawals of equity from the home. This turns the <a href="https://theconversation.com/your-home-as-an-atm-home-equity-a-risky-welfare-tool-22000">home into an ATM</a>, which borrowers can access when they choose. Our new <a href="https://doi.org/10.1080/02673037.2024.2400158">study</a> asks what motivates Australians to tap into their home equity, and how does this behaviour change with age? Surprisingly, despite having much lower housing equity levels, younger homeowners borrow often, and borrow more, than their Boomer parents. <h2>How common is equity borrowing?</h2> Using 15 years of data from the government-funded <a href="https://melbourneinstitute.unimelb.edu.au/hilda">Household, Income and Labour Dynamics in Australia </a>(HILDA) survey, we tracked the mortgage debt and repayments of homeowners aged 35 and over. The chart below shows younger owners are far more likely to engage in equity borrowing. In 2006, nearly 39% of the youngest homeowners, aged 35–44, borrowed against their home equity. By 2021, this number had dropped to 29%. Despite the decline, it’s still 24 percentage points more common than those aged 65 and over. The older group has remained steady at about 5% over the years. <hr /> <iframe id="Ll9Cw" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/Ll9Cw/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> <h2>How much do equity borrowers withdraw from their home?</h2> Among those who use their home like an ATM, younger borrowers now withdraw larger amounts than older borrowers. In 2006–07, equity borrowers aged 35–44 and 45–54 withdrew on average $43,000 and $57,000, respectively (expressed in real values set at 2022 price levels). By 2021, the amount withdrawn by these two age groups had climbed to $70,000 and $100,000. On the other hand, the amount withdrawn by borrowers aged 55 or older fell from more than $50,000 to less than $40,000. <hr /> <iframe id="ujq3S" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/ujq3S/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> <h2>What motivates equity borrowing?</h2> Young homeowners’ equity borrowing behaviours are sensitive to changes in house prices and debt values, and their financial risk preferences. Among those aged 35–44, a $10,000 increase in the primary home value raises the likelihood of equity borrowing by ten percentage points. Every $10,000 in debt against the primary home reduces the likelihood by 2.8% percentage points. Those willing to take substantial financial risk are eight percentage points more likely to borrow against their home than those who are risk-averse. Those aged 65+ are not inclined to borrow, and exhibit little change in equity borrowing behaviour with variations in asset, debt, income or financial risk preferences. <h2>Why borrowing practices differ between age groups</h2> As well as being more likely than older homeowners to borrow against equity, the younger group also withdraws higher amounts than their Boomer parents. This is despite younger borrowers already carrying much higher debt against their primary home. Among those in our study who engaged in equity borrowing in 2021, the median debt before borrowing was $401,000 for 35-44 year-olds compared to $0 for those aged 65+. As real house prices have risen over decades, the current generation of young homeowners has had to invest more money into purchasing their first home than previous generations. It’s therefore not surprising the primary home is now widely viewed as a financial resource to be <a href="https://theconversation.com/your-home-as-an-atm-home-equity-a-risky-welfare-tool-22000">tapped into to meet spending needs</a>. On the other hand, most Baby Boomers bought their first home at more affordable prices than their children, and at lower levels of debt. Now they don’t appear to be spending their kids’ inheritance by drawing down housing wealth. In fact, older parents may shy away from equity borrowing to <a href="https://www.pc.gov.au/research/completed/wealth-transfers/wealth-transfers.pdf">bequeath wealth to children</a>. Some also <a href="https://doi.org/10.1017/S0047279417000058">dislike passing debt</a> on to their children. Older people may also avoid equity borrowing due to concerns about <a href="https://treasury.gov.au/sites/default/files/2023-08/p2023-435150.pdf">aged care costs</a>. Some may be hampered by <a href="https://doi.org/10.1016/j.jue.2013.08.003">poor financial literacy</a>. <h2>More debt ahead without policy changes</h2> Present trends suggest young homeowners will remain indebted for longer periods, and more and more will <a href="https://theconversation.com/more-of-us-are-retiring-with-mortgage-debts-the-implications-are-huge-115134">retire with mortgage debt</a>. For indebted retirees, there are real prospects of <a href="https://theconversation.com/fall-in-ageing-australians-home-ownership-rates-looms-as-seismic-shock-for-housing-policy-120651">drawing down of superannuation</a> to pay off mortgages in retirement. This may impose extra burdens on the age pension system. Another unwelcome consequence, which may add to health costs, is the prospect of <a href="https://www.ahuri.edu.au/sites/default/files/migration/documents/AHURI-Final-Report-319-Mortgage-stress-and-precarious-home-ownership-implications-for-older-Australians.pdf">debt-related psychological distress</a> among those who can’t pay off their mortgage in old age. If the current trends continue, the <a href="https://www.afr.com/policy/economy/what-happens-when-australia-s-boomers-hand-5-trillion-to-their-heirs-20240515-p5jdvf">great wealth transfer</a> that has already begun looks set to <a href="https://theconversation.com/not-everyone-wins-from-the-bank-of-mum-and-dad-73842">further entrench inequality</a> between those who have access to the bank of mum and dad and those who do not. Encouraging older people to use their housing equity to fund their needs in old age may lighten fiscal burdens on younger generations. But policy reforms will be needed to relieve concerns about the risks of equity borrowing in old age.<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;" src="https://counter.theconversation.com/content/238924/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/rachel-ong-viforj-113482">Rachel Ong ViforJ</a>, ARC Future Fellow & Professor of Economics, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> and <a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, Research Fellow, School of Accounting, Economics and Finance, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a> Image credits: Shutterstock 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/young-homeowners-are-more-likely-to-use-their-home-as-an-atm-than-their-boomer-parents-heres-why-238924">original article</a>. </div>

Money & Banking

Cleo Smith's parents share heartwarming update

Three years after her kidnapping, Cleo Smith is adjusting well to her normal life, with her parents sharing a heartwarming update. On Sunday, her parents shared the now seven-year-old's latest achievement - winning her first gymnastics competition. The snaps posted by 60 Minutes on Facebook, showed Cleo smiling as she proudly held up a medal and certificate with all her ribbons on it after a routine on the balance beam. “Such a beautiful brave girl who Australia got to know. Glad she is doing so well and you should be so proud of your gymnastics achievement,” one commenter said on the post. “I love seeing an update on how she is going.” "Bless her little heart! Her whole family are the epitome of resilience," another added. "I think the whole of Australia is behind you Cleo! Well done," a third wrote. The update was shared just two months after the family shared a collection of photos of <a href="https://www.oversixty.com.au/lifestyle/family-pets/new-photos-of-cleo-smith-show-insight-into-her-life-after-kidnapping" target="_blank" rel="noopener">Cleo enjoying life</a> with her family. The snaps included Cleo celebrating her seventh birthday, a family fishing trip, and her playing with her little sister Isla, and their first day of school. Cleo was just four-years-old when she was kidnapped from her tent while camping with her family in Western Australia's Gascoyne region, around 10 hours north of Perth, on October 16, 2021. Police and rescue personnel spent nearly three weeks looking for her, and 18 days later she was found in Terrence Kelly's home in Carnarvon, just minutes away from her own family home. Kelly was arrested near the home and has been in custody in Perth since. He is appealing the 13-year and six-month prison sentence he received for the abduction. At an appeal hearing in February, the court was told Kelly has various mental impairments, including a severe personality dysfunction, which they say was a significant factor in the crime. Images: 60 Minutes Facebook

Caring

Parents under fire for taking their sick toddler on a long-haul flight

A couple has come under fire after documenting their experience online of boarding a long-haul flight with their toddler, despite the child being sick. Alina and her husband were excited to go on their long-awaited holiday to Thailand with their one-year-old son in tow, taking off on their first big family trip. However, shortly before they were set to take off, their child developed a raging fever, and they decided to go on the trip anyway. Taking the experience to social media, Alina said her son’s temperature soared to around 40 degrees, with their little boy’s condition escalating so rapidly that the parents were considering calling off their entire trip. “My husband and I even wanted to cancel the flight,” she confessed in the video, which has received around 1.4 million views. However, after realising they would be out of pocket by several thousands of dollars if they cancelled the trip at such short notice, they decided to take the risk and board the plane. “Our tickets would have been wasted, and the trip that cost us $3,000 would have been wasted,” the mum wrote. "One plus of this flight was that the flight was at night, and the child could sleep and recover.” In the clip, the parents were seen walking their son around the plane, cradling the sick toddler as he cried uncontrollably. Luckily, the parents “managed to bring down the temperature”, but they weren’t convinced their son would keep quiet for the rest of the trip. “We were so worried about how the baby would feel on an eight-hour flight,” she continued, walking the baby up and down the corridors of the airport, trying to calm him down. As they tried to settle the child, they realised that their hopes that he would sleep the whole way were misguided. “The flight turned out to be difficult,” Alina confessed. “The baby kept waking and crying.” In the middle of the night, their son’s fever returned, which forced the parents to “bring the temperature down again” and left them “very worried” about their son’s health. Their baby’s fever took a toll on the parents as well, who complained of feeling “squeezed like a lemon” while trying to keep his temperature down, as Alina recalled, “We took turns looking after the baby so each of us could sleep.” In a later video, the parents defended their choice to take their son on the flight despite his intense fever and blamed it on his teething, not sickness. “Our baby wasn’t sick, he was teething, and that’s why he had a fever,” she said. “If our child had been sick, we would have cancelled everything … I consider myself a wonderful mother.” Despite the mother's clarification of her son's fever, the parents were slammed for even considering taking a sick child on such a long flight. “It’s OK, don’t worry about making anyone else on that flight sick,” a sarcastic comment read. “This is so tremendously selfish, you are appalling for doing this to him and others.” “I was in the same situation,” another parent said. “I lost all bookings, but who cares, my daughter comes first always and forever, no matter the amount of money!” “Trips come and go; your baby’s health is priceless!” read another comment. “Forty degrees is a hospital admission! Not a flight to Thailand!” However, not everyone was as judgmental, with many parents extending their sympathies to the first-time parents, as one person wrote, “You know what’s best for your baby. Everyone will say things. But only you will know when you are in that situation.” “Everyone is a first-time parent,” another defended. “This was a lesson learned. A baby’s health is of utmost importance. No holiday is more important than that. I hope he is OK now.” Image credits: TikTok

Travel Trouble

Parents' devastation after baby attacker flees the country

The parents of an infant boy who suffered severe burns after having hot coffee poured over him have spoken of their devastation after learning their son's <a href="https://www.oversixty.com.au/finance/legal/manhunt-after-stranger-pours-scalding-hot-coffee-on-baby-in-public-park" target="_blank" rel="noopener">alleged attacker</a> fled the country. The nine-month old baby boy was attacked while having a picnic with his mother at a Brisbane park on August 27. The man allegedly came up to the boy and poured a Thermos of hot coffee on the baby, burning his face and chest. The boy has since undergone three rounds of surgery to treat his wounds. On Monday, Queensland police said that the 33-year-old man accused of the attack has fled the country on his own passport a day before they identified him. The foreign national had travelled by car to NSW on August 28 before flying out of Sydney airport on August 31. Police said that a warrant has been issued for his arrest. The babies parents, who chose to remain anonymous, have spoken of their devastation. “It sounds like they were very, very close in catching him, and this obviously means that we’re going to have to wait who knows how long to get justice for our son,” the mother told the ABC. “It’s a bit heartbreaking.” She said the incident had left her living in fear and it would affect her mental health for the rest of her life. "Returning home I had panic attacks, and still continue to do so. I do feel relief that he's not in this country, in some sense, but I will always have fear and anxiety being out in public with my son," she said. "It should be a happy, joyful time. I'm a first-time mum and he's taken that away from me." Luka's father said his baby boy was in "good spirits" and didn't "want to sit still" despite his injuries. Queensland Police Detective Inspector Paul Dalton said the investigation was one of the most “complex and frustrating” he had been involved in. He said the alleged attacker was “aware of police methodologies” and was “conducting counter-surveillance activities” that made it more complex. “It wasn’t until September 1 that we were able to put a name to the face in the CCTV,” Inspector Dalton said. He added that it was still too early in the investigation to disclose the name of the suspect publicly as it could "jeopardise the integrity of this investigation and any chance of bringing this person to justice". “We will keep going until we find you, and I have not lost that determination,” Inspector Dalton said. “I’ve got 30 detectives working for me. They are devastated that they missed this person by 12 hours. I think only the family would be more upset about that.” He urged the man, who had been "coming and going" from Australia since 2019 on working and holiday visas, to return to Australia and come forward. “I encourage him to do that. There’ll be no judgment on you whatsoever,” Inspector Dalton said. Images: ABC News/ news.com.au

Legal

Parents of Aussies killed in Mexico share heartwarming update

The grieving parents of the two Aussie brothers who were killed in Mexico while on a surfing trip have shared a heartwarming update more than four months after their deaths. Jake and Callum Robinson were tragically killed in the province of Baja California in Mexico on April 27th, as their bodies were discovered at the bottom of a 15-metre-deep well during a large scale police operation. Following their deaths, more than $520,000 was raised by the community to help the boy's parents, Martin and Debra, who have revealed the money has helped create a foundation to continue their sons' legacy through philanthropic activities. The heartwarming update was shared by Perth not-for-profit group Indian Ocean Paddlers on the family's behalf on Monday. The group was among thousands of donors, who rallied behind the family to assist with costly expenses, including repatriation and funeral costs. The Robinsons are "forever grateful" for the support received, writing, "We have been overwhelmed by the love we have received in Australia." "To drive this initiative, we have created a foundation as a tribute to Callum and Jake and will be guided by people well versed in caring for others." "Although it’s early days, we hope to have a webpage available soon which will provide information on how your precious donation money will be spent. Your support is more than just a financial gift; it’s testament to the power of community and the belief that together, we can create lasting change." "You have played a crucial role in making our vision a reality, and for that, we will be forever grateful." The Robinsons also opened up on how they're coping four months on from losing their sons, saying, "Not a day goes by when we don’t think about our beautiful sons, the connections they had with people like you and the lives they could have had." Image credits: Instagram

Family & Pets

"What do you say?" TV host's heartbreaking parenting plea

An Aussie TV host has shared a heartfelt plea for advice after revealing that his 12-year-old daughter has been bullied at school. Barry Du Bois, co-host of The Living Room, shared an emotional post on Instagram admitting he is struggling to help Arabella with the bullying issue, and asked other parents for advice. “I just watched my little girl walk out the gate of our home, a place where I know she is safe and feels a sense of security and belonging,” Barry said. “She is heading to a place that doesn’t offer that same security, her school. As a parent, I’m supposed to protect and guide her through difficult times, but this morning, I am lost.” “Yesterday, Arabella came home from school claiming she was sick,” he continued. "This isn’t the first time it has happened. She wasn’t actually sick but is instead being bullied again.” Barry then asked for help from his followers on how to help his daughter, asking, “What do you say to a child when you’ve already said, ‘Don’t let them upset you. Just keep being kind. You are not the horrible things they say’.” “She said, ‘I don’t want to be special; I just want to be liked’,” the TV star added before revealing he felt “weak, angry, confused and a little fearful”. The touching post encouraged some of his famous friends to share their own stories of helping their kids deal with bullying. “My mate sent his daughter to Jiu Jitsu after being bullied. She fell in love with it and gained another level of confidence,” wrote The Bachelor Australia star Tim Robards. “Sometimes you’ve just got to go up to the parents and say, ‘your kid bullies mine’,” added Married At First Sight’s Ryan Gallagher. Image credits: Instagram

Family & Pets

"He was at peace": Sam Landsberger’s parents break silence after sudden death

The heartbroken family of Sam Landsberger have revealed what he was doing in his final moments before he tragically <a href="https://oversixty.com.au/health/caring/prominent-sports-journo-killed-at-just-35" target="_blank" rel="noopener">died</a> at the age of 35. Landsberger, 35, was struck by a truck driven by a 45-year-old Seaford man at the intersection of Bridge Rd and Church St in Richmond, Melbourne on Tuesday morning. According to Sam's father Jake, his son's final moments were spent on the phone to his mother Anne while he was walking to meet a friend. “Anne was on the phone with Sam when it happened, heard the hit, she heard the commotion, and we’ve been beside ourselves worrying whether she actually possibly distracted him,” Jake told The Herald Sun on Wednesday. ‘The next thing there was commotion, a stranger picked up the phone, and said: ‘Who am I talking to’, so Anne said: ‘I’m Sam’s mother, who are you’." “And he said, ‘I’m sorry to say but your son has just been hit by a vehicle … he’s lying on the ground’. “The man conversed with Sam initially until he lost consciousness’.” Landsberger was rushed to hospital but later died from his extensive injuries. His father said the family received a message from the man who helped Landsberger on Wednesday, saying, “He messaged us and said, ‘I told Sam I was on the phone with his mother and he was at peace knowing that he was communicating with you through me’." Victoria Police have since confirmed the truck driver, 45, who stopped at the scene, underwent “standard” roadside alcohol and drug tests, which were both negative. “He was requested by Melbourne Highway Patrol officers to provide a blood sample as per standard procedure under the Road Safety Act being a driver involved in a serious collision,” a spokesman said. “The driver allegedly refused and was charged on summons with refusing to provide a blood sample.” The man was “immediately” given a notice banning him from driving, and is due to appear at Melbourne Magistrates Court on September 19th. Sam's father said that while his family are "angry" over what happened, they have been overwhelmed by the amount of love they have received since Sam's tragic passing. “I can’t put into words the comfort, the joy and the pride we are getting from that,” Jake said. “By the time we both took two sleeping pills to go to bed about 9pm on Tuesday, I personally had received in excess of 250 messages and Anne probably the same." “The tributes, watching AFL360, seeing The Tackle had been postponed, the stories all over the media … I said to Anne while we sat at our table bawling our eyes out, I wish I could go back to the morgue in the coroner’s court, just wake Sam up briefly and say, ‘Sam, look how much you were loved, look how much you were admired’." “Because he had no idea. He did not realise. The degree to what we’ve seen has blown us to smithereens.” Image credits: Twitter

Caring

You don’t need a doctor to get more physically active – here are 10 simple steps you can take by yourself

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/nerys-m-astbury-410114">Nerys M Astbury</a>, <a href="https://theconversation.com/institutions/university-of-oxford-1260">University of Oxford</a> We all know physical activity has many <a href="https://www.nhs.uk/live-well/exercise/exercise-health-benefits/">health benefits</a>, including for mental health. It helps <a href="https://theconversation.com/exercise-can-reduce-stress-and-improve-sleep-particularly-for-women-with-breast-cancer-186144">manage stress</a>, ease joint or back pain, and boost energy levels. Exercise can also improve <a href="https://theconversation.com/exercise-and-the-brain-three-ways-physical-activity-changes-its-very-structure-150203">brain function</a> and <a href="https://theconversation.com/exercise-really-can-help-you-sleep-better-at-night-heres-why-that-may-be-192427">sleep</a>, and lift mood. In contrast, inactivity or spending too much time <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6308180/">sedentary</a> is a leading factor in developing a range of diseases. The <a href="https://www.who.int/publications/i/item/9789240015128">World Health Organization</a> recommends we should do a weekly minimum of 150-300 minutes of moderate intensity physical activity, such as walking, or 75 minutes of vigorous physical activity, such as swimming, jogging or an exercise class – as well as <a href="https://theconversation.com/strength-training-could-be-the-answer-to-one-of-the-worlds-worst-killers-228665">regular strength training</a>. However, many people <a href="https://www.who.int/teams/health-promotion/physical-activity/global-status-report-on-physical-activity-2022">fail to meet these guidelines</a>. So what to do about this <a href="https://www.weforum.org/agenda/2022/12/lack-exercise-inactivity-preventable-diseases/">health crisis</a>? There is already <a href="https://www.bmj.com/content/376/bmj-2021-068465">evidence</a> that when GPs give patients guidance and continued support to increase physical activity, this encourages them to be more physically active – at least in the short term. However, we don’t yet know the best way for doctors to communicate with patients to help them sustain these increased activity levels so the current guidance and support on offer to patients isn’t as effective as it could be. <figure><iframe src="https://www.youtube.com/embed/vCCD1xHKpZc?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> For example, my <a href="https://www.bmj.com/content/386/bmj-2023-078713">latest research</a> examines the <a href="https://www.bmj.com/content/340/bmj.c1900">“motivational interviewing” (MI)</a> method GPs currently use to encourage patients to change their lifestyle. MI is a patient-centred, non-confrontational communication style that helps patients address any problem behaviour by exploring their ambivalence towards changing it. MI has been shown to help patients with a host of health problems, including <a href="https://pubmed.ncbi.nlm.nih.gov/25577724/">addiction issues</a>, <a href="https://pubmed.ncbi.nlm.nih.gov/23001832/">eating disorders</a>, <a href="https://pubmed.ncbi.nlm.nih.gov/25726920/">smokers</a> and those with <a href="https://pubmed.ncbi.nlm.nih.gov/33637368/">diabetes</a> to change their behaviour. However, I found that while MI programmes can help patients increase their total amount of physical activity – the benefits are only short term. <h2>Ten simple ways to be more physically active</h2> If you want more physical activity in your life, then, there are many self-directed things you can do to help yourself, without joining a programme or seeing your GP. Here are ten simple and effective ways to help you become – and stay – more physically active: 1) Don’t sit, stand We <a href="https://theconversation.com/sitting-is-bad-for-your-health-and-exercise-doesnt-seem-to-offset-the-harmful-effects-225056">sit a lot</a>. In fact, it’s likely you’re sitting right now – and you needn’t be. Sitting for long periods has been <a href="https://doi.org/10.1016/j.amepre.2010.05.024">linked</a> with many adverse health outcomes, so try to stand more. <figure><iframe src="https://www.youtube.com/embed/wUEl8KrMz14?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe></figure> 2) Take the stairs Being physically active needn’t mean expensive gym memberships. Try building physical activity into your daily routine. One easy way to do this is by swapping the lift or escalator for the stairs. 3) Make it fun If you like doing something, you’re <a href="https://theconversation.com/why-you-shouldnt-let-guilt-motivate-you-to-exercise-220342">more likely</a> to continue doing it. Why not try an activity you liked doing as a child, or even something new? Who knows, you might enjoy it. 4) Phone a friend Exercising <a href="https://theconversation.com/exercise-can-be-punishing-but-heres-how-to-stop-thinking-of-it-as-a-punishment-76167">with a friend</a> or loved one is a great way to stay motivated, and it can make physical activity more fun too. 5) Do less, more often <a href="https://pilotfeasibilitystudies.biomedcentral.com/articles/10.1186/s40814-023-01272-8">“Snacktivity”</a> – a term for breaking up your activity into shorter <a href="https://theconversation.com/forget-the-gym-in-january-exercise-snacking-is-the-way-forward-69702">activity “snacks”</a> – can help you increase activity in convenient, manageable bursts while reaping the health benefits. 6) Track your progress Activity trackers aren’t a fad. There is <a href="https://doi.org/10.1016/S2589-7500(22)00111-X">evidence</a> that just using an activity tracker such as a pedometer to count steps or a smart watch that logs activity can help increase your activity levels, reduce body fat and increase muscle mass – and increase your overall physical fitness. 7) Get into a habit We know it takes about ten weeks to <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3505409/">form a habit</a>. Repetition is key – so stick with it and keep going. Once you’ve formed a physical activity habit, it will be <a href="https://www.psychologytoday.com/gb/basics/habit-formation#:%7E:text=Building%20healthy%20habits%20can%20involve,listening%20to%20music%20while%20exercising">hard to shake it off</a>.). 8) Hold still Try to incorporate <a href="https://en.wikipedia.org/wiki/Isometric_exercise">isometric exercises</a> like the plank or wall squats into your routine. These exercises, which need no equipment, require you to tighten muscles and hold still – and have been shown to <a href="https://bjsm.bmj.com/content/57/20/1317">lower your blood pressure</a>. 9) Set a goal Give yourself an achievable target to work towards – it will <a href="https://theconversation.com/three-tips-to-help-you-stay-motivated-to-keep-exercising-all-year-long-175868">motivate you</a> to reach your goal. 10) Reward yourself And don’t forget to reward yourself when you meet that goal. You can also build in rewards to mark your progress along the way. After all, who doesn’t like to treat themselves when they’ve done well?<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;" src="https://counter.theconversation.com/content/231991/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/nerys-m-astbury-410114">Nerys M Astbury</a>, Associate professor, <a href="https://theconversation.com/institutions/university-of-oxford-1260">University of Oxford</a> Image credits: Shutterstock 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/you-dont-need-a-doctor-to-get-more-physically-active-here-are-10-simple-steps-you-can-take-by-yourself-231991">original article</a>. </div>

Body

"The pain is unbearable": Nick Campo's family speaks out

The parents of a Perth teenager who tragically died in a car crash have started an emotional campaign for road safety in the name of their late son. Budding footballer Nick Campo, who had just turned 18, was the rear passenger in a Toyota HiLux that rolled and collided with a Jeep Patriot in Perth’s southern suburbs on Saturday night and was pronounced <a href="https://www.oversixty.com.au/health/caring/rising-star-footy-player-dies-at-just-18" target="_blank" rel="noopener">dead</a> at the scene. Campo's parents Daniel and Bianca told <a href="https://www.9news.com.au/national/nick-campo-parents-speak-of-unbearable-pain-after-losing-son-to-horror-crash/a5ab695f-d536-4fbb-9a95-088e155e3cba" target="_blank" rel="noopener">9News</a> of their "unbearable pain" since the sudden and tragic loss of their son. "My Nick, he was definitely one of a kind," his mum Bianca said. "I knew he was special, but he was really special to a lot of people." "And he was a beautiful boy, and he's going to be missed by so many, so many people." His father Daniel said his son was "the complete package" but was best known for his quick wit cheekiness. "If you had to sum Nick up in one word, 'cheeky'," he said. "From day dot .... Cheeky, cheeky." Sitting in the ute alongside Nick at the time of the crash were two of his teammates from the South Fremantle Football club, as well as the 17-year-old driver and one other young man. "He loved footy, he loved cricket, he just was so committed," his mum said. "He loved getting around all the boys, you know all the teammates. He loved being in the clubs." The 17-year-old boy accused of being behind the wheel, who was also injured in the crash alongside one of the other passengers, is facing serious charges. Another boy is fighting for his life in Royal Perth Hospital. Nick's parents are praying their son's friend pulls through and don't want other families to go through what they have gone through. "(Because) It is, it is the worst nightmare that you can imagine and the pain is unbearable," his mum said. The family is now channelling their grief towards a road safety campaign called "Call Out for Nick". "If it doesn't look right, that person doesn't look right to drive, the habits - it's got to be called out," his father said. "We see it every day - young kids they think they're bulletproof, they're not." Image credits: Nine

Caring

Your parents’ income doesn’t determine yours – unless you’re ultra rich or extremely poor

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/catherine-de-fontenay-5631">Catherine de Fontenay</a>, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Australia is among the strongest global performers in terms of income mobility between the generations, according to a new <a href="https://www.pc.gov.au/research/completed/fairly-equal-mobility">Productivity Commission report</a>. The country’s long-term economic growth has led to each generation earning more than the last, on average. Our report finds 67% of the so-called <a href="https://www.businessinsider.com/xennials-born-between-millennials-and-gen-x-2017-11">“Xennial”</a> generation – those born in 1976–1982, on the cusp of the Millennial/Gen X divide – earn more than their parents did at a similar age. This is particularly true of those born into poorer families. <hr /> <iframe id="NsmB3" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/NsmB3/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> When we look at where people rank in an income distribution, the picture is a little less rosy. While children with parents at the bottom or top of the income scale are more likely to remain there, almost 15% of people with parents in the lowest income decile, remain there while just 6% move to the top. And those living in poverty - who often include renters, people from migrant backgrounds who don’t speak English at home and single parents - face some of the biggest barriers to improving their economic lot. <a href="https://www.pc.gov.au/research/completed/fairly-equal-mobility">Fairly Equal? Economic mobility in Australia</a>, released on Thursday, measures intergenerational income mobility by examining the relationship between a person’s income and the eventual income of their children. <h2>Measuring inequality</h2> Most countries anxiously monitor income distribution and economic mobility amid concerns inequality may be increasing. And countries with high inequality tend to have low mobility: the rungs of the social ladder are far apart making it difficult to move up to the next level. If mobility is low, the consequences are serious. Low mobility is discouraging, unproductive and unstable. If young people have little chance of achieving their aspirations, their wellbeing is affected. <a href="https://ideas.repec.org/p/cor/louvco/2023026.html">Social unrest is more likely</a>. And the abilities of young people from less affluent backgrounds are under-used. The next tech entrepreneur Steve Jobs may never be discovered, and many other opportunities are lost. In Australia we are used to thinking of ourselves as having inequality and mobility somewhere between Scandinavia and the US; but that comparison is not as comforting as it used to be, if inequality and mobility are worsening in the US. Our report considers people’s income mobility over the course of their lives, and across generations. If income mobility is low, people will struggle to recover from initial disadvantage, and those born into privilege will be financially secure. First we look at whether people move in the income distribution; there is a surprising amount of movement. And we look for evidence people can access opportunities throughout life, after setbacks. <h2>Recovering from setbacks</h2> There is not much evidence of recovery after a person experiences a severe illness or a job loss, perhaps because the causal factors are still at work. More encouragingly, the income of women who experience separation <a href="https://melbourneinstitute.unimelb.edu.au/__data/assets/pdf_file/0020/4815110/HILDA-User-Manual-Release-22.0.pdf">does increase</a>, eventually restoring the buying power of their household. This is in part due to well-targeted government support. For intergenerational mobility, we extended the dataset developed by <a href="https://www.aeaweb.org/articles?id=10.1257/jel.20211413">an analytical dataset</a> to measure the influence parents’ income had on the income their offspring were likely to earn. We found Australia’s intergenerational mobility is actually higher than the <a href="https://onlinelibrary.wiley.com/doi/10.1111/sjoe.12197">Scandinavian</a> countries, and second only to <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3662560">Switzerland</a> among comparable studies. <hr /> <iframe id="5DFB9" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/5DFB9/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> In all countries studied there was some link between parents’ income mobility and that of children, because parents pass on tastes, ambitions and abilities. And there was greater correlation between the incomes of mothers and daughters, and fathers and sons than with parents of the opposite gender, perhaps because of role model effects. <hr /> <iframe id="BJ4hD" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/BJ4hD/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> While Australia’s strong income mobility between generations is remarkable, it’s concerning there is less mobility among those at the very bottom and top of the income distribution scale. The fact children born into the poorest families were more likely to remain in the lowest deciles, while those born into the top earning families tended to remain in the top deciles, suggests privilege is often passed on. People who grew up in frequently poor households were <a href="https://melbourneinstitute.unimelb.edu.au/__data/assets/pdf_file/0009/3537441/HILDA-Statistical-report-2020.pdf">three time more likely</a> to be poor at age 26 to 32 than those who never experienced poverty. <hr /> <iframe id="SxHBo" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/SxHBo/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe> <hr /> And consistent with <a href="https://www.aihw.gov.au/getmedia/37c2c8b7-328c-41e1-bace-87ed7a551777/australias-welfare-chapter-2-summary-18sept2019.pdf.aspx">other studies</a> we found children whose family received government payments were twice as likely to receive support as adults, compared with those whose families received no help. <h2>Movement in the middle</h2> Taken together, these results suggest some segmentation of opportunities. In the middle of the income distribution, there are opportunities to get ahead, and individuals’ careers are not restricted by their families’ circumstances. At the bottom, things are a lot more “sticky”, and finding opportunities to permanently escape poverty is more difficult. Some of this boils down where people live, peers, school quality and local job options. Researchers <a href="https://www.aeaweb.org/articles?id=10.1257/jel.20211413">Deutscher and Mazumder</a> (2023) have shown regional economic conditions have a big impact on mobility, and we show remoteness limits movement out of poverty. Overall, the mobility picture is extremely good news for most Australians. But this should not blind us how difficult it is to move out of poverty, especially for those in remote areas. Identifying where mobility fails to deliver allows us to focus our policy response.<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;" src="https://counter.theconversation.com/content/234158/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/catherine-de-fontenay-5631">Catherine de Fontenay</a>, Honorary Fellow, Department of Economics, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Image credits: Shutterstock 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/your-parents-income-doesnt-determine-yours-unless-youre-ultra-rich-or-extremely-poor-234158">original article</a>. </div>

Money & Banking

"I want her parents to know": Fellow Qantas passenger reveals final moments of young woman

The passenger who was seated next to the woman who tragically <a href="https://oversixty.com.au/travel/travel-trouble/young-woman-dies-on-qantas-flight" target="_blank" rel="noopener">died</a> after boarding a Qantas flight has broken his silence on her last moments. Ravinder Singh was seated next to Manpreet Kaur, who passed away shortly after boarding a flight from Melbourne to Delhi on June 20th. The 24-year-old student, who had dreams of becoming a chef, was travelling to see her parents in India for the first time in four years, but did not make it to her destination. Now, Ravinder Singh has shared details on her final moments in the hopes it will bring her grieving parents some comfort. “I was sitting next to her on the Qantas flight from Melbourne to Delhi and was actually the last person to talk to her,” Ravinder Singh exclusively told <a href="https://www.news.com.au/travel/travel-updates/incidents/passenger-speaks-after-woman-dies-next-to-him-on-qantas-flight/news-story/24e8396d8eb3a1d35aea4a4291b847ba" target="_blank" rel="noopener">news.com.au</a>. “When I boarded the plane, she was already seated in the aisle. I was in the window, so I asked if she could please get up so I could occupy my seat. “I noticed that she began scrolling through photos on her mobile phone and stopped at a photograph of an elderly couple. I asked if they were her parents. She smiled and nodded and kept staring at it.” Mr Singh, who had been in Australia to visit family, said that everything seemed fine and the plane eventually began moving towards the runway, ready for take off. He explained that Ms Kaur had then put her phone down and rested her head on the seat in front, when he realised something was not right. “She was wearing her seatbelt and leaned forward to rest her head on the seat in front. As the plane was preparing for takeoff, I wanted to alert her to sit upright,” he shared. “But the plane jerked and I expected her to wake up. But instead, her head just moved towards me." “I got the attention of a flight attention and told her that this woman does not seem very well. She checked her pulse and after that, the reaction of the cabin crew was very commendable." “They tried their best to revive her. She was then evacuated by medical staff.” The retired army officer said the incident still “haunts him” and he wants her parents to know that she “left the world peacefully”. “The incident has been etched in my memory for life,” he said. “It is very difficult to digest that a young girl with whom you were just interacting with has passed away in front of your eyes." “Her innocent face stills haunts me and I want her parents to know she loved them a lot. She left this world peacefully looking at their photograph." “My heart breaks for her family who would have been looking forward to seeing her after a long time.” It is understood that Ms Kaur had been feeling "unwell" when she arrived at the airport and boarded the plane with no issues, with reports suggesting she died of tuberculosis. Image credits: news.com.au

Caring

"Take it back to her”: Parents' heartbroken plea to thieves who targeted their daughter's grave

When three-year-old Brittany Conway died after swelling a button battery, news of her death made headlines and prompted urgent warnings to parents everywhere. Now, just one month out from the four-year anniversary of Brittany's death, her parents are grieving all over again after their daughter's grave was targeted by callous thieves, who took off with a "precious" keepsake. “She was a vivacious little girl, there was a sparkle in her eye,” Brittany’s mother Lorraine told <a href="https://7news.com.au/news/our-little-princess-parents-anguish-after-precious-item-stolen-from-childs-grave-c-15205766" target="_blank" rel="noopener">7News</a>. “She was a very loving, gentle, funny character.” Brittany’s love of tiaras was immortalised when one was placed inside a locked glass-front box attached to her grave. “Brittany loved wearing big bows and pretty dresses, she loved the tiaras and high heels,” Lorraine said. “We just wanted her to know she was our little princess.” Brittany's parents were heartbroken when they discovered that thieves had pried open the lockbox on the grave and stolen the tiara. “I was so angry to think someone had taken something so precious, taken it out of somewhere so sacred,” Lorraine said. The local Gold Coast community has rallied around the family, offering to replace the tiara and even reward money for the beloved item to be returned. Brittany’s parents are still hoping the tiara will be returned, and sharing a public message to the thief that they “did not hate them” for what they had done, but urged them to give the item back. “I’m still angry, I’m hurt, but my main thing now is to get (the tiara) home, and bring it back to Brittany where it belongs,” Lorraine said. “They haven’t thought about how much of an impact it has had on the family." “If you’re watching this, and you’ve taken it, I don’t hate you — just take it back to her.” Image credits: 7News

Family & Pets

John Farnham steps out at son's wedding for first time since jaw surgery

Beloved Aussie rock legend John Farnham exuded pride and joy as he stepped out in style at his son Robert's wedding on the weekend. After enduring extensive surgery due to oral cancer, Farnham, now cancer-free, appeared in high spirits at the intimate wedding of his oldest son and his new wife, Melissa. The 74-year-old icon looked remarkably well and largely unchanged since his challenging surgery in August 2022. In the heartwarming photos shared on Instagram, John posed alongside his son, both beaming with happiness. John looked dapper in a black suit with a bronze tie and matching pocket square, while Rob opted for a stylish white tux with black accents. The joyous occasion was beautifully captured in a series of family photos, including John's wife, Jill, and other close family members. Fans flooded the comments with heartfelt messages, celebrating the happy family and John's remarkable recovery. "Such a beautiful father and son pic," one fan wrote, while another added, "Congratulations to you both. It's so nice to see your Dad, he looks fantastic! Love to you all." The bride, Melissa, looked stunning in an off-the-shoulder ivory gown, posing for romantic photos with her new husband against the lush backdrop of their wedding venue. Rob's touching caption on Instagram encapsulated the joy of the day: "Shared the happiest moment with my favourite person in the universe and she said I do. Melissa, my life is forever better that you’re apart of it. You looked radiant, beautiful and elegant. I can’t wait to see what the future has in store for us and I’m truly honoured to have you by my side as my wife for life❤️." The couple had announced their engagement in November 2022, with Rob expressing his excitement about their future together: "My best friend and love of my life said yes to marrying me. I can't wait to spend the rest of my life with you." John Farnham's presence at the wedding was particularly special, as it marked a year since his successful battle against cancer. In August 2023, Farnham revealed he was cancer-free, a triumph after numerous surgeries and a challenging recovery process. In a heartfelt statement, he shared his gratitude: "It's been a year since my first surgery and to be honest, I've lost count as to how many other procedures there have been since then. But, I'm home now and I'm a very grateful and happy man. I'm sitting here in my living room lapping up the attention from my beautiful wife, Jill, my boys Rob and James, and my mini Schnauzer, Edmund." Throughout his recovery, John's family provided updates on his progress. His son Robert shared that his father was "doing fantastic" after a 12-hour surgery for throat cancer and was even dancing a little and walking his dog regularly. "He's really, really happy. He's doing really good, he's super positive," Robert said in an interview. While it is unlikely that John will perform again after his extensive surgery, the love and joy he shared at his son's wedding are a beautiful reminder of life's precious moments. Images: Instagram

Relationships

Teen actress' parents share update after five-storey fall

Mamie Laverock's parents have shared a promising update with fans, after she was left fighting for her life following a five-storey <a href="https://www.oversixty.com.au/health/caring/teen-actress-on-life-support-after-devastating-mishap" target="_blank" rel="noopener">fall</a>. Her parents Nicole and Rob updated their GoFundMe page for the 19-year-old and said that she was “out of her big surgeries," and confirmed that doctors say she's “doing well.” "Mamie is out of her extensive surgeries and the doctors say she is doing well," they wrote. “It’s impossible for us to be happier,” her parents continued. “Thank you all for your support.” On May 11, Laverock experienced a “medical emergency” and was hospitalised in Winnipeg, Canada before being transferred to another hospital in Vancouver. At the time her parents said her recovery was “unclear", but she was “showing signs of improvement.” More than two weeks later, they shared a harrowing update on their daughter's condition informing fans that she was now on life support after she fell five stories from a balcony walkway while being escorted out of a secure unit in the hospital. Many of her When Calls the Heart co-stars took to social media to promote the crowd-funding page and express their heartbreak. “I love this family, my heart is broken. A devastating time for all who care for Mamie. Please help if you can. They need all the support they can get to make it through this," Laverock’s on-screen mother Molly Sullivan wrote on X. "I just donated. If you have the means to do so, I hope you will too. Link in bio,” wrote the show's leading actress Erin Krakow. The fundraiser has now exceeded the $30,000 CAD target, raising almost $33,000 CAD. Image: GoFundMe

Caring

Step up: take the stairs to help your heart

Climbing stairs is associated with a longer life, according to research presented this week at an annual meeting of Europe’s leading cardiologists. <div class="copy"> The systematic review of 9 previous studies covering nearly 500,000 participants investigated whether climbing stairs as a form of physical activity could play a role in reducing the risks of <a href="https://cosmosmagazine.com/science/biology/how-organ-on-a-chip-technology-is-revolutionising-the-way-we-study-cardiovascular-disease/">cardiovascular diseases</a> and premature death. Study author Dr Sophie Paddock, of the Norfolk and Norwich University Hospital Foundation Trust, UK, says: “if you have the choice of taking the stairs or the lift, go for the stairs as it will help your heart”. “Even brief bursts of physical activity have beneficial health impacts, and short bouts of stair climbing should be an achievable target to integrate into daily routines.” Cardiovascular diseases (CVDs) are a group of disorders of the hearth and blood vessels. They are the leading cause of non-communicable disease death globally, with 17.9m people estimated to have died of one in 2019 alone. Physical inactivity is one of the most important behavioural risk factors for developing CVDs. More than 1 in 4 adults do not meet the global <a href="https://www.who.int/news-room/fact-sheets/detail/physical-activity" target="_blank" rel="noreferrer noopener">recommended levels</a> of physical activity. The <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3049418/" target="_blank" rel="noreferrer noopener">meta-analysis</a> on the best available science covered 480,479 individuals aged 35-84 years old. 53% of participants were women. Stair climbing was significantly associated with a 24% reduced risk of dying from any cause and a 39% lower likelihood of dying from cardiovascular disease, compared to not climbing stairs. It was also linked to a reduced <a href="https://cosmosmagazine.com/health/covid-19-impacts-on-cardiac-health/">risk of CVDs</a> including heart attack, heart failure and stroke. “Based on these results, we would encourage people to incorporate stair climbing into their day-to-day lives,” says Paddock. “Our study suggested that the more stairs climbed, the greater the benefits – but this needs to be confirmed. So, whether at work, home, or elsewhere, take the stairs.” The research was presented to <a href="https://www.escardio.org/Congresses-Events/Preventive-Cardiology" target="_blank" rel="noreferrer noopener">ESC Preventive Cardiology 2024</a>, an annual congress of the European Association of Preventive Cardiology in Greece this week. Image credits: Shutterstock <div> <noscript data-spai="1"><img decoding="async" class="aligncenter size-full wp-image-198773" src="https://cdn.shortpixel.ai/spai/q_lossy+ret_img+to_auto/cosmosmagazine.com/wp-content/uploads/2023/12/MICROSCOPIC-TO-TELESCOPIC__Embed-graphic-720x360-1.jpg" data-spai-egr="1" width="600" alt="Buy cosmos print magazine" title="step up: take the stairs to help your heart 2"></noscript> </div>  <img id="cosmos-post-tracker" style="opacity: 0; height: 1px!important; width: 1px!important; border: 0!important; position: absolute!important; z-index: -1!important;" src="https://syndication.cosmosmagazine.com/?id=302751&title=Step+up%3A+take+the+stairs+to+help+your+heart" width="1" height="1" loading="lazy" aria-label="Syndication Tracker" data-spai-target="src" data-spai-orig="" data-spai-exclude="nocdn" /> </div> <div id="contributors"> <a href="https://cosmosmagazine.com/health/body-and-mind/step-up-take-the-stairs-to-help-your-heart/">This article</a> was originally published on <a href="https://cosmosmagazine.com">Cosmos Magazine</a> and was written by <a href="https://cosmosmagazine.com/contributor/imma-perfetto/">Imma Perfetto</a>. </div>

Body

How do I plan for my retirement? Step one – start right away

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Planning for retirement is important because it will help you build the nest egg you’ll need to financially sustain your retirement years. Past <a href="https://www.tandfonline.com/doi/epdf/10.1080/03601277.2012.660859?needAccess=true">studies</a> have shown that those who plan for their retirement are more likely to be better off at retirement compared to those don’t. The sooner the planning process gets underway, the better. This gives your money more time to grow by generating investment returns. And the income from your first job is your first opportunity to save for retirement. As the saying goes: “The best time to plant a tree was 20 years ago. The second best time is now.” As people <a href="https://www.statssa.gov.za/?p=15601">can expect to live longer</a>, they must save more for retirement so that they don’t outlive their savings. This is particularly true given that the pensions landscape worldwide has undergone some major changes. In the past, governments and employers provided retirement income for individuals through government social security benefits and employment-based retirement funds. Because of increasing life expectancies, pension plans that guaranteed a retirement benefit to employees are now rare. Employees are now responsible for making contributions towards their own pensions as well as choosing the investments offered by the pension fund. Since employers are no longer responsible for funding their employees’ retirement and governments lack resources to provide a universal state pension, each person is ultimately responsible for ensuring they have enough retirement savings. So it’s very important to know the basics of the retirement planning process. As a researcher, I’m interested in how people use financial products to overcome economic challenges and build wealth. One of the things I investigate is whether planning for retirement leads to better retirement outcomes. For instance, my <a href="https://www.researchgate.net/profile/Bomikazi-Zeka-2/publication/340130176_Retirement_funding_adequacy_in_black_South_African_townships/links/5e8bf3924585150839c6408b/Retirement-funding-adequacy-in-black-South-African-townships.pdf?_sg%5B0%5D=started_experiment_milestone&origin=journalDetail&_rtd=e30%3D">research</a> has found that individuals whose financial affairs are in order are more likely to maintain their standard of living at retirement. Given that everyone’s financial situation is unique, it’s always a good idea to speak to a financial planner for tailored financial advice. If you haven’t given retirement planning much thought or don’t know where to start, here are four points to help get the ball rolling. <h2>What are my retirement goals?</h2> Retirement goals make you think about what you want to achieve by the time you retire and what you need to do to achieve it. Some people may have a goal in mind about when they want to retire, or how much wealth they’d like to have by the time they retire. And since wealth has different meanings for different people, others may think about maintaining or improving their standard of living at retirement. Once you’ve thought about your retirement goals, the <a href="https://corporatefinanceinstitute.com/resources/management/smart-goal/">“smart” goals</a> framework is a useful guide. It outlines that goals should be: specific, measurable, attainable, relevant and time-bound. When goals are clear, within reach, achievable, realistic and time-sensitive, they become a blueprint to help you turn them into a reality. <h2>How do I start saving for retirement?</h2> For those who have a job that comes with retirement fund membership, a workplace pension is used to provide for retirement. But there are also other options available to help you save. For instance, retirement annuity funds are voluntary retirement savings. Personal assets such as <a href="https://www.allangray.co.za/what-we-offer/unit-trust-investment/#fund-3">unit trusts</a> or <a href="https://www.gov.za/faq/money-matters/how-can-i-make-tax-free-investment">tax-free investments</a> can also be used as a savings tool. Unit trusts are generally better suited for people willing to take on risk because their value is tied to the movements of financial markets. In other words, they can generate positive returns but they can also lose value. The drawback of tax-free investments in South Africa is that they have a lifetime contribution limit. You can’t use them to save more than R500,000 (US$27,400). Each of these options has its advantages and disadvantages and what works best for one person may not be best for another. But there are several ways to save for retirement depending on your financial situation and retirement goals. Getting professional advice will help you determine what’s best for you. <h2>Will my retirement savings be enough?</h2> Once you’ve set your retirement goals and have a retirement savings plan in place, you can calculate whether you are saving enough to achieve your retirement goals. For example, if your retirement goal is: “I want to retire at the age of 65 years with an income equivalent to R35,000 (US$1,900) per month” then you can use a <a href="https://www.sanlam.co.za/tools/Pages/retirement.aspx">retirement calculator</a> to track your progress and determine whether you need to make adjustments to meet your goals. You might have to increase the monthly amount you’re putting away for retirement or reconsider your retirement age. The retirement calculators are also a useful tool for regular check-ins on your progress should your financial situation change – for example, if you change employers and earn a different salary. <h2>What other issues should I consider?</h2> It’s also important to think about your lifestyle and priorities. For instance: <ul> <li> do you aim to retire with your mortgage settled? </li> <li> are there debts you plan to clear before you retire or children who need financial support at retirement? </li> <li> would you like to renovate your home? </li> <li> would you like to buy a new car when you reach retirement age? </li> </ul> Another important consideration is healthcare costs. Many people assume that they will be able to work indefinitely and overlook the fact that healthcare costs may increase with age. <h2>Starting early matters</h2> Many people plan to work after retirement age, while others don’t plan to retire at all. It may be that they can’t afford to. They may have accessed their retirement benefits too soon, made inconsistent retirement fund contributions, or had to pay high administrative costs that eroded the final value of a retirement payout. So best be prepared. Retirement may seem like a distant event to plan and save for, especially when there are more pressing financial needs. It’s important to think about the financial decisions you make now that may cost you in the future. If you start to plan for your retirement now, your future self will thank you for it.<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;" src="https://counter.theconversation.com/content/230553/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> Image credits: Shutterstock 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/how-do-i-plan-for-my-retirement-step-one-start-right-away-230553">original article</a>. </div>

Retirement Income

“We need a donor”: Parents' desperate plea to save young daughter

The heartbroken parents of five-year-old Addison Kemp have made a desperate plea to save their young daughter. Addison suffers from a rare health condition called severe Aplastic anaemia, which means that her body’s bone marrow does not produce enough new blood cells to carry out vital tasks like carry oxygen, control infections or heal after an injury. This means that even a simple nosebleed can be catastrophic for the young girl, as she's forced to spend days in hospital getting blood transfusions to stay alive. Her parents Bianca and Daniel have spoken about her condition in an interview with A Current Affair and explained how without a bone-marrow transplant, the condition could mean death for their young daughter. “She wouldn’t live,” Ms Kemp said. “We need a donor.” The couple first found out about their daughter's condition after she returned home from school with bruises all over her body. Addison was taken to the doctor for a blood test, and they found out about the devastating condition a day later and were told to immediately take her to Queensland Children’s Hospital. “I was gutted, I was devastated. Getting a phone call from the doctor saying you need to rush your little girl to the hospital. That wasn’t a phone call that I wanted,” Mr Kemp said. Addison now has to stay in hospital until she can be matched with a donor. Her little sister Crimson, misses her every day that they are apart. “She gets a bit upset every day that they are not home,” Mr Kemp said. The family said that their bone-marrow did not match up with Addison, and no registered Australian donors had matched up with her either. However, not all hope is lost as any regular Australian could help save a life. Lisa Smith, from bone marrow donation charity Strength to Give, said that the donation process is similar to donating blood which involves a short course of injections before the operation. “The vast majority of time, it is you sitting in a chair, having your blood filtered, while you are watching Netflix," Smith said. Ms Kemp begged Australians to sign up as donors. “I really want to put the message out there that if you can, do,” she said. “You could be saving a life, that’s the biggest thing you could do in the world.” Image: A Current Affair

Caring

Madeleine McCann's parents share emotional 21st birthday message

Madeleine McCann's parents have shared a heartbreaking message as they marked their daughter's 21st birthday. Her parents, Kate and Gerry McCann posted the message on the official Find Maddie Campaign Facebook page, with a photo of Maddie in a pink dress and bucket hat - one of the last photos taken of her before she disappeared. "Happy 21st Birthday Madeleine. Still missing. Still missed. Still looking," they wrote. They added the word "hope" on the Facebook photo posted on the page where people regularly donate towards the search efforts to find the missing girl. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/C62J1_lgEo3/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/C62J1_lgEo3/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Official Find Madeleine Campaign (@officialfindmadeleine)</a> </div> </blockquote> It's been 17 years since Madeleine disappeared on May 3 2007, and earlier this month her parents shared another poignant message on the anniversary of her disappearance. "It's 17 years since Madeleine was taken from us," the message posted to social media read. "It's hard to even say that number without shaking our heads in disbelief." "Whilst we are fortunate in many ways and able to live a relatively normal and enjoyable life now, the 'living in limbo' is still very unsettling. And the absence still aches. "Your support continues to encourage us and bolsters our strength to keep going. We know the love and hope for Madeleine and the will to find her, even after so many years, remains, and we are truly thankful for that. "Thank you again for remembering Madeleine and all missing children." Image: Instagram

Family & Pets

Parents of murdered brothers break silence in tearful address

As Australia continues to mourn the loss of Callum and Jake Robinson, two adventurous souls whose lives were tragically cut short during a surfing trip in Mexico, the news that broke the hearts of many has brought profound grief not only to their family and friends but also to the broader community who admired their passion for life and the waves. Martin and Debra Robinson, the grieving parents, have now issued a heartbreaking statement through tears from San Diego, California, where they confirmed and shared the devastating account of their sons' untimely deaths. The brothers, Callum aged 33 and Jake aged 30, along with their American friend Jack Carter Rhoad, 30, met their fate in what is believed to be a bungled robbery while camping at San Miguel beach in the Mexican state of Baja California. The details paint a grim picture: the trio's pick-up truck and tents caught the eye of <a href="https://www.oversixty.com.au/health/caring/arrests-made-over-aussie-surfers-missing-in-mexico" target="_blank" rel="noopener">assailants passing by</a>, leading to a senseless act of violence that claimed their lives. As the Robinsons recounted the harrowing ordeal, the weight of their loss and the injustice of such a senseless tragedy was keenly felt. Days turned into an agonising search when the brothers and their friend vanished on April 27, prompting a desperate hunt that ended in the worst possible outcome. Their bodies, discovered in a well on a nearby cliff, signify the end of a chapter filled with promise and joy, leaving behind a void that can never be filled. In their heartfelt statement, Martin Robinson thanked those who had offered their condolences and said they had been “overwhelmed with the outpouring of emotions and support”. Debra Robinson then spoke through tears, remembering her sons as vibrant individuals who lived life to the fullest. “It is with heavy hearts that we share the news that Callum and Jake have been murdered,” she said. “Our hearts are broken and the world has become a darker place for us. “We also mourn the loss of Carter Rhoad, a close friend. “They were young men enjoying their passion of surfing together. “Now it’s time to bring them home to family and friends, and the ocean waves in Australia. Please: live bigger, shine brighter and love harder in their memory.” The Robinsons' journey to Mexico, culminating in the grim task of identifying their sons' bodies, stands as a testament to a parent's love and the lengths one would go to honour their children. Instagram posts, now <a href="https://www.oversixty.com.au/health/caring/my-heart-is-shattered-girlfriend-s-tribute-to-partner-killed-in-mexico" target="_blank" rel="noopener">haunting reminders of happier times</a>, capture the essence of their final days – a snapshot frozen in time, a poignant reminder of the fragility of life. Amidst the grief, questions linger, and justice remains elusive. Mexican authorities have apprehended suspects linked to the heinous crime, shedding light on the circumstances surrounding the tragedy. Yet, no amount of closure can fill the void left by the absence of loved ones whose lives were taken too soon. In the wake of tragedy, Debra Robinson's plea resounds louder than ever: live bigger, shine brighter, and love harder – in memory of those we've lost and the moments we hold dear. Images: Facebook / News.com.au

Family & Pets

"A step too far": Grandparents barred from school event for bizarre reason

A Melbourne school has come under fire for refusing to let a group of grandparents into the classroom for a special event because they did not have a Working With Children Check (WWCC). Furious grandparents have slammed St Joseph’s Primary School in Yarra Junction for taking it "a step too far" when they asked them to provide the WWCC after being invited to attend the “Inquiry Afternoon”. The event was held for year one and two students to speak about “technology and the world has changed over time”, according to The Herald Sun. Grandparents were asked to provide a WWCC on the back of the invitation, which some of them missed. “The Working With Children Check isn’t set up for the one-off visit — it is a step too far,” founder of the National Grandparent Movement Ian Barnett told Sunrise. “I understand we’re living in a time when we want more checks and balances, but it is unrealistic to think that grandparents attending such a day would actually need to go and provide a Working With Children Check." The grandparents without a WWCC were forced to sit in the principal's office and do their show-and-tell via a video call. “I’m sure they had very good intentions — no one set out for this to happen,” Herald Sun education editor Susie O’Brien said. “But imagine turning up, arranging your entire week, your day to come to your grandchild’s event … and the child’s school refuses entry.” She added that although schools did have some discretion over such requirements, when a group of people are invited for a specific event, it is usually not required. Barnett also said that "for such visits you don’t need a Working With Children Check,” in most states. “I haven’t heard of this in NSW. I have to admit, I’m from NSW. So it is really going a bit extreme. Schools do have the right to decide who comes onsite. But it just seems it’s not required. “To actually drag the child out from the classroom to sit with nana or grandad, it’s a step too far and embarrassing, I think, for the school as well.” A spokesperson for the primary school acknowledged that although there was some confusion, the school had to comply with the child safe standards. “There was advance notice to all St Joseph’s families on this requirement, with 29 grandparents signing in on Friday with a working with children clearance," they told the Herald Sun. “We acknowledge the disappointing experience of the four grandparents who couldn’t attend the grandparents’ day and are attempting to call these families this morning.” Images: Sunrise/ The Herald Sun

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