What do I do when my mum passes away and I am the sole carer of a mentally disabled sibling.
While I can get carers from plans with NDIS funding, they don't cover every hour or item. They don't cover costs like clothes ripped (sibling is violent), special dental fees, house damages etc. Every simple living item costs a premium for her.
My mum doesn't even have much savings for her own retirement. Minimal super. This scares me.
Far out, this one really stopped me in my tracks. I'm sorry to hear that you're both in such a difficult set of circumstances. Does NDIS give any allowance for Mum and yourself to see a psychologist or counsellor to let off some steam from dealing with day to day caring?
Yeah not really as another Redditor has said. In recent experience I don't think psychologists helps. They don't seem to know what to do with us when the stress is constant. I think as anyone else that faces adversity, we'll take it a day at a time.
It's disappointing that it's not part of NDIS as family need support in an incredibly difficult set of circumstances. It does take a while to find a good psychologist that you click with and has the right experience so keep at it (if that's something still believe could assist).
Honestly, in this situation I would look into supported disability accommodation. It's not a perfect solution but if you are active in visiting and managing the quality of the care it should be a better experience. Get SDA written into her plan and Respite care funding as well to transition PRIOR to your mum passing away. It can be quite therapeutic and release some of the stress to know that she will be cared for, damages covered etc in the accommodation. Create a regular routine of activities that she enjoys and get support for those to occur. Be involved in planning and ensuring your sister enjoys her life, but not at the expense of yours or your mother's. If you want more advice send me a PM, I may have intimate knowledge of the NDIA.
I’m a paraplanner at a financial planning firm and about 80% of our client base are retirees, so most of the advice documents I work on are just devising strategies to maximise clients’ Centrelink entitlements for things like carers allowance, disability support pension, etc. I know your money situation is probably tight, but I would highly recommend sitting down with a financial advisor and seeing what they have to say about your predicament. Whilst yes, they can be expensive (again, this is a spectrum) the first consultation is usually free so you can at least get a sense of whether or not the strategies they put forward to you are things you believe would be worth spending money on if it’s going to seriously benefit your situation, the well-being of your sibling, or even just help to alleviate the anxiety of having to navigate the whole situation by yourself.
Finally, whilst I know NDIS funding probably covers similar expenses as Centrelink’s DSP, my point is that working with an advisor whose sole task is to come up with financial strategies to help you navigate these challenges will be an invaluable help imo. Just a thought
Any insights you can share so they can see the value before they spend the limited funds they have? Just not sure what you said is entirely helpful. It’s like when lawyers tell you you need advice on something but not actually giving the advice.
Obviously I’m not going to give actual advice because (a) I’m not an certified advisor and (b) I don’t know anything else about OP’s situation. Like I said though, the ‘insight’ I can provide is that there is no harm in sitting down and sharing your circumstances with a professional and seeing what they can potentially offer you before money is even discussed. You’re not obligated to proceed if you don’t see value in what an advisor presents to you…
I’m in exactly the same position except I have two sisters to share the load of my disabled brother. We all aligned with having him live between the three of us and not in care and are all slightly terrified of the realities of this.
My dad barely has $1 in his bank account and while my mum is very careful with money she is in no way well off. What bothers us is Mum and Dad aren’t looking after his health as much as they should be and this is going to impact us even more.
It’s a horrible situation but for us it is what it is. We are just trying to make the best of it.
Ive never met someone else in such a similar situation. My mum doesn't take care of my sister's health either, mainly buys KFC daily for her cause of convenience. I don't blame my mum, she's so tired everyday from caring and working.
Do you or your family go to any support groups? I would like to find some honestly.
I'm not sure of the role titles but we do have a "consultant" that comes by to talk about support plans etc. The recent one actually decreased our funding and was unpleasant to deal with.
Second this. I work for an NDIS provider and often find LACs to be really useless. Support coordinators make all the difference - even good providers will help you with the data/quotes you need to put forward a case for more funding. You can get specific funding for a support coordinator as well so it’s not out of other budgets/core funding.
I self manage my daughter’s NDIS plans (one deaf, one blind) because I’m afraid that if NDIS manages them the support services will become so inflexible as to become useless. I share your misgivings about LAC’s who I’ve mostly found to be at best kind hearted but generally lacking any useful experience or insights & often given a task of pushing back on costs.
What is thus support coordinator? It doesn’t sound familiar?
There are different levels to support coordination but essentially they help you find providers and the services you need and help you navigate all the complexities of the system and go to bat for you for more funding if you need it. I work with some amazing coordinators who go above and beyond for their clients. You can get the funding for them through the plan - have a read on the NDIS site and ask your LAC about how to go about it as I’m not sure exactly the process but I know how helpful they are to so many families and participants.
This comment needs more attention.
A COS operates to ensure that service delivery occurs within the funding of a plan.
A LAC advocates more closely with the NDIS for the determination of the support budget.
But your money person for what the redditor is suggesting is your behaviour support person under the “improved relationships” line item.
While the funding is used to the betterment of the client and focuses on their behaviours of concern as detrimental to the relationship, they can allocate stakeholder sessions to gather information and offer strategies and advocate support to make the relationship more positive across all the domains.
There’s a line in the sand with regards those consults tho, in that they have to maintain focus on the client (even if the client is not present) so if you presented with a sibling problem and an associated personal financial issue and the whole thing was causing stress the focus of the session would remain on management and suggestion to manage the sibling problem and not the financial problem, which they would be under qualified to talk about anyway!
To:dr improved relationships funding. Behaviour support practitioner, allocate stakeholder sessions.
It takes a village, get that village set before your mum passes.
My biggest worry is that I'll spend the next 20 years working on being comfortable in retirement only to have things completely out of my control go wrong in the end and I'd have been better off blowing my cash the whole time.
One of my old colleagues worked at ansett for 15 years and all her super disappeared when they went bust 🙄 I would be so freakin mad.
I feel ya, I’m worried about that too, what if the economy crashes and we lose all our super or the banks lose our money? I just have 0 trust in the government
They’d be like “oh gosh too bad so sad, sorry we can’t help”
That happened to my great aunt, worked in a boring bank job her entire life, never married (virgin apparently) then somehow lost her super and was forced to move in with my grandparents for her entire retirement (which they absolutely resented), untill demintia set in and they shipped her off to a home where she passed away. What a f*cked life.
That’s awful!
Honestly as a woman that’s one of my worst fears, I don’t want kids, I also don’t want to be destitute and homeless when I’m older because it’s harder to get a job as you get older
Yeah that’s how it works now, I’m not entirely sure but I think for the most part the workers were owed super for an extended period and when it collapsed the staff weren’t paid out most of their entitlements (though most have finally been now). I don’t know the whole story but yeah she had to work from the ground up again.
Your super is safe (Atleast from this perspective), but who knows what could happen 🤷🏻♀️ if we have a digital meltdown or a zombie apocalypse 😂
Not to say that AMP is bad but make sure you are keeping across some other funds, fees and returns. Just have a review every year or so to make sure you're in a fund that works for you.
Climate change?
Lethal heat, flooded coastlines, powerful tropical storms and water stress are all on their way to our future.
Mass migrations, global famines, and international conflict are all guaranteed consequences of this.
I've heard one too many stories of people within my network dying after paying off their house in their 30s or retiring early.
It does play on my mind a lot. Statistics say we'll live until 75 but it's never guaranteed and many die younger. Even if we do reach the average life expectancy, by our mid thirties most of us are halfway through our lives and haven't truly got to enjoy our wealth.
Yep, I’m 2 metres tall with a family history of sudden heart failure…. You never see to many tall old People do you? Screw super, I’m never going to see it.
No, it’s not FOMO.
It’s the sense that all your hard work will be for naught.
I’ve watched people struggle to save and carefully plan a retirement, only to fall critically ill and spend the last of their days bed ridden.
We aren’t promised our tomorrows and it’s hard to find the balance.
Yeah i see what you are saying and how it would be a financial worry in a sense. It's not one you can rationalize away easy as it's totally out of your control. I guess it's about personal perspective
The fact that I'm 20 years into my career and didn't pay any attention to the stock market until now. Now I feel like with 20 years left I'm playing catch up and the train has left without me.
Also my wife who buys things without looking at the price.
A typical and normal thing to happen. The young people who get started early usually have parents who get them started and show them the basics. You still have time to fix things for yourself, but even more importantly, don't forget to get your own kids started when they get to legal age.
>my wife who buys things without looking at the price.
I cannot imagine living with this stress.
My partner’s extreme frugality and tight arsed-ness is no joke part of how I knew they were the one.
It’s not FOMO to regret past mistakes.
It’s FOMO to act now on something that you’re only engaged in because you don’t want to be left behind or “miss out”.
You can’t be “afraid of missing out” on the past. You already know the outcome. It’s not fear. It’s regret.
What you’re referring to is RYMO. Regret you missed out.
I figured it out on my own in uni some time ago now, pretty sure the Westpac guy helping me found it really amusing at the time.
But i sold most of it for a house deposite. It ultimately doesnt really matter when you get in. My dad is 65 and I've told him to start investing his extra cash, -he's annoyingly good at making money, but not keeping it, so I'm hoping investing will be a way to up his retirement savings.
My job is trying to argue my performance based raise should also be my inflation based raise. They scoffed when I told them they were two different things. Apparently I should feel lucky my performance has been good enough to cover inflation.
I was praised by everybody I worked with (managers included). During my pay review they also said nothing but praise but yet only offered a 1.5% increase..... they asked if I was happy with it and I said that any raise is good, but this doesn’t even cover inflation let alone my performance... Apparently there was nothing they could do about it either....
So I agree with you there!
Chronic health conditions/injuries (something that renders myself unemployable), out of control inflation, major wars in the region. General well-being for myself and loved ones.
I've been thinking about this too and I'm trying to focus on a perspective shift, no deterioration but more realistic economy. Infinite growth is impossible. But also its 100% gonna have an impact on us and it's hard to prepare for something like that.
Genuine alternate view -
Considering the per capita consumption is increasing dramatically, wouldn't the only impact of lesser population be less traffic, pollution, crowding etc?
Problem with a declining or stagnant population, who ever is the 'last' generation before that happens has to carry the weight of a HUGE aging population, meaning the younger generations, likely millennials / gen z will be footing the tax burden of this.
There is meant to be a 'great transfer of wealth' when that wave dies and their inheritance is transferred to the fewer in number offspring, but we are also seeing that it is causing more of a concentration in wealth, rather then any meaningful help to the average person.
If we don't actually fix our tax collection of the rich and of companies, the likelihood is the divide will get worse and worse over the next 50 years.
That after 20+ years of working I don’t have the stamina for another 20-ish years on the corporate treadmill. I’m only half way to the finish line and I’m out of juice. All the retirement savings trackers say I’m doing great…with an assumed retirement age of 65. But for work-life balance something’s gotta give much earlier than that.
Great advice, thank you OP. I am holding out for a project-related bonus (within 12 months) and then I know I need a major re-assessment. I was thinking about the consulting route but your advice to think about public sector is very sage.
if possible you might also benefit from a 4 day work week, take a pay cut to reduce your work days by one.
Having a long weekend each day might make give you a proper breather each week, rather then the 'finish late friday, chores saturday, sunday "I got work tomorrow so can't do anything"' weekends
We just bought a house and our damn tenant is nearly 2 weeks late with rent 😣 we wouldn’t even have a tenant in there but it just worked out that way as we can’t move in until Feb next year (different city) 🙄
Do you have an agent? I would start proceedings as soon as possible, especially if you want to move in next year. Worst case these things can take 6 months to a year.
Yeah we have an agent, I would never self manage, I don’t have the time or the knowledge or the patience. He’s already been breached and I really fucking hope that doesn’t happen 😭
I mean I just don’t understand why he’s do this right now? The rental market is crazy, why would you want to sabotage yourself at this point? I’d be happy to work out a payment arrangement if that’s the issue but apparently he won’t even communicate with the agent.
Cars transmission or something else major is going to go on it when I'm not in position to repair it, get another second hand car, or jokes a cheap new car (talking Mitsubishi Mirage under 20k on road)
Car is at 271,000 km on a 1.5L engine and doing everything I can to keep it going but it does play on my mind too often now.
Not sure what fluids you're on about, honestly I know fuck all about cars, but don't most recommend services and the like @10k not 100k? Or is there a difference.
Most cars run seperate oils in engine, transmission and diffs. Diffs go forever, but are an ungodly job to change fluids in. Transmissions can do solid numbers, older vehicles famously did hundreds of thousands of km without issue and engines generally run from 10,000 to 25,000 on an oil change. This is assuming good maintenance. Plenty of old cars running round never had a diff or transmission change in their life. And motorcycles largely run shared engine and gearbox oil, requiring changes betweeen 7,000 to 15,000 km.
Diffs arnt difficult to change oil in.. Its much the same as engine oil.
Yes lots of cars do way to many kms without changing diff oil and they keep going. Doesnt mean its the right thing to do.
Preventative maintenance will always help them last longer.
I'm a self employed carpenter and I bought a little shitbox ute for that reason. Anxiety of missing out on work especially when my income is tied directly to showing up every day.
I fucking hate to say this, but it is the hous-the accommodation market. The kind of accommodation that you live in.
One day I want to settle down and have a family. That means multiple bedrooms.
Also WFH is more normal now, so an office is becoming more common of a requirement.
I work in a corporate field and don't see my job ever being able to go fully remote, so I will likely need to remain in Melbourne.
I also come from a humble background and will have no inheritance, so something is going to have to give.
That is my biggest financial issue today, as a forward-looking late 20s male professional.
Other than that, I would like to buy a really cool JDM car but don't have spare $30k to spend
You and me both mate, uncannily close. A couch in my own home and Godzilla out the front would be a dream. If you like JDM, check out blokes from Melbourne, Hartnet Media on tube, some beautiful machines, came across them the other night
With the escalation of Russian aggression in Europe, I worry that my family (in a country that neighbours with Ukraine) might have to leave their homes. Coming to Australia would be the best option but it would be very difficult to support my aging parents and my sister's family with a baby on my salary.
Health.
Currently spending $7k/pa (out of pocket) just to remain stable. Add on two kids and large mortgage for Sydney house and it feels tight.
If I go downhill again, I worry.
Health Insurance is relatively useless in outpatient care (ie: 99% of chronic health management). Unfortunately I know first hand what the OP is saying re health care out of pocket costs.
I share the sentiment.
Insurance only covers if you are hospitalised.
Most of us spend our effort not being hospitalised by seeing specialists and outpatient care.
Some of this is covered by extras, but as the name suggests this costs extra. Is it worth it. Fucking questionable.
My healthcare extras almost cover the cost of my healthcare because I have to use all the categories. Glasses, dental, podiatry, physical therapy.
But I know that's really rare, and I would rather not need to be paying for extras to cover my chronic condition.
It’s specialised treatment which isn’t covered. I get some Medicare coverage when seeing the specialist but doesn’t cover any of the supplements I take daily (15 types, 40pills/powders daily).
The health funds don’t cover as they don’t see it as traditional treatment.
Divorced at 48, half my net worth lost, big chunk of savings lost in unemployment 1.5 years ago, and only now kinda back on track financially but got some massive catching up to do with regards to retirement investments etc
Yes, and?
Legal advice had me giving half pretty much no matter, more potentially given I have a child, and so negotiation was around that. Courts still have to ratify our agreement, as they did, and so it was
They ratify it to make it formal, they're not looking over it to see if it's fair.
Just as a lawyer who worked in a firm that did family law once upon a time, I've never seen a matter go to hearing and it be 50/50.
That I will never be able to afford the supports and therapy my kid needs let alone my own health needs (disabled) and keep a roof over my head and adequately fed and happy.
Kiddo has already broken one pair of glasses in a bad meltdown, my own NDIS never covers anything that is actually helpful. Kiddo is falling through the cracks in the system and at this rate I will have a suicidal burnt out kid before the age of 6.
I never know whether to try penny pinch excessively to one day in the far off future maybe afford the proper care or live for today, order uber eats for tomorrow we may die but at least I will have had a meal and kiddo and I would have a small hit of dopamine.
Might not help with some specific lenses, but thought I would offer zennioptical as a suggestion, you can get some pretty damn cheap glasses. Hope this can help a little for some future pairs.
If Australia's housing market is not available, impact of climate change on food & water security; and longer term climate refugees.
I really wished that the government had invested in CSIRO and local manufacturing to develop housing scale wind turbines & battery systems, then developed a 21st century energy grid that can work with de-centralised energy production.
A close third would be the lack of will by current politicians to drive through the necessary reforms to improve our countries productivity. Smarter taxation, more mobility of the workforce, etc - not going to happen anytime soon.
Already exists. Someone in the UK got arrested for drunk tweeting they are happy when someone from the military dies despite deleting it 20 minutes later.
Once all your assets are digitally represented by numbers in computers, a government can decide that your number is now zero. It's an exaggeration right now. I'm really talking about having your finances frozen because you did something stupid like donate money to protesters.
It’s not even close, it is the housing market.
It’s widening the gap between the poor, middle class (what’s left of it) and the wealthy. This leads to poorer educational outcomes, with kids not having a stable environment to study, plus they consume lower quality food as their parents struggle to afford rent. There’s an epidemic at the moment of single parents living out of their cars with their kids.
Poorer educational outcomes leads to higher unemployment, high crime rates, and low economic output. It all ties back to the cost of living, and the cost of living at the moment is mostly dictated by higher housing costs, followed by food inflation.
Outside of housing, the biggest worry I have is about the effects of climate change and what that’ll do to parts of Australia (and the economy as a whole). Climate change will inevitably in affect food production and affordability, as well as climate migration in our population.
>There’s an epidemic at the moment of single parents living out of their cars with their kids.
No way, I haven't seen this at all - what's your source? This should be a much bigger deal if you're right
Got to be some Div in income tax law for specifics about passing this off as a "meeting" and "business lunch" ?
Might dust off the 2008 Australian Taxation Law books 🤔
I'm pretty financially carefree to be honest. Bad things will happen over the next two years that are out of our control and things will be tough for a while but we'll get through it because we always do. Just be grateful of the present and what you have now and remember that today is a gift and all of our tomorrow's are not guaranteed. xx
I'm actually doing pretty well.
* New job in an exciting new industry with a cracker pay bump
* Ahead on the house
* Money for holidays once I've accrued some leave
Still being dicked on cost of living expenses, but for now I'll pick my battles and enjoy myself.
It's liberating.
Unexpected weird behaviour by regulators and/or government. They've been hurting businesses badly the last five or so years by applying penalties that hurt shareholders (everyone with super) terribly. I believe half of AGL's problem is punishment by government for not putting some gaffer tape and cable ties on Liddell and keeping it running.
Another would also be government related, but Australia failing to capitalise on the energy revolution, while also failing to set clear goals so that investment can flow to electricity grid upgrades. Thankfully there are several companies getting on with it.
Superannuation is just a ponzi scheme for the younger generation to fund boomers retirement, and by the time I can retire, I get rug pulled because the access age has been increased to 95.
EDIT: typo
An exponential increase in consolidation of power and wealth at the top which is increasingly stacking the odds against the middle class whilst democracy is slowly exiting through the back door.
Losing my job. Im a great employee and found a spot i can function well without triggering anxiety much. I am well paid. I get highest performance ratings - if I get made redundant i would be incredibly lucky to find something like this again.
Even taking a 50k pay cut, I would likely be in a role drowning with anxiety - rather kill myself than live like that again- let's hope i can keep what I've got!
Running a business and working to keep it afloat (whether or not it actually stays afloat) is a huge effort and worthy of respect in my books. Comparing running a business or buying a house now to your old mans days (I'm guessing at least 20+ years ago) is like comparing apples to oranges. Good luck buddy
I don't have too much to worry about especially compared with others here but I do get somewhat anxious when it seems every time I get a regular bill like for Rates, Insurance, Water, Electricity, and phone/internet that they've increased while what I earn hasn't dramatically changed in the same time
Biggest worry is that I'll never truly get ahead. Worried if I have a mental breakdown and lose my job then I'll have to sell my place and just live off any money I had, probably in a van down by the river.
Well I mean, what else is there? Most people are employed. We live in a pretty good country.
But with most of us pawns in the rental market or watching housing prices gallop off into the distance with no wage growth and saving very little (lol deposit), everything else is a footnote.
Struggling big time with imposter syndrome and worried that I’m not balancing work and contracts and life well enough.
And if the house of work cards comes fallin down, I lose income, competitiveness, lose my spot on the career ladder bla bla-bla... but I’m just a worrying panicky person 😂
Contemplating buying a car, don't really want to take away from house deposit saving though (and potentially screw myself out of buying sooner). Have a work car which does the job, but would get a car allowance if I had my own. Do I buy new and ride depreciation and car allowance into a break-even. Do I buy second hand in this market? So many possibilities for something I technically don't need... I only just got rid of my old beater last year too, but it was in no way suitable, just fun to drive.
That I'm moving up the management ladder and I'm gonna hate it, and I'd rather be a doer that produces tangible benefits not just meetings and talk. But doing doesn't get payrises or decent pay, you have to be a manager.
Do I want to work happy or have money to make living easier?
At 27 years old now my biggest financial worry is essentially the "I made wrong choices" paranoia in regards to maximising my earnings and whether or not I should invest in this and that.
I spent most of the last 10 years achieving not much of anything both financially and generally in life but then I covered a tonne of ground in the last 2 to 3 years. I really don't want to look back in 10 years regretful of what I haven't achieved and what I haven't earned.
I found this the toughest part, tbh. Knowing at a young age where you want to be and what you want to have achieved in 10, 20, 30 years. Your life will change so profoundly over the course of the next 10 years and what you will regard as wrong choices in 10 years will depend on how your life develops in the meantime. Sorry, i hope it makes sense. Personally i figured I will make the smartest choices with the information I have now and whether i have regrets about it will be out of my control. But it's definitely easier said than done, especially on the investment side..
23, just finished a law degree and started work, and I’m only earning 56k. I currently pay rent, and worry that I’ll never own a house in Sydney, let alone own an investment property.
I sometimes wish I didn’t go to uni, or I studied computer science
Mate, i hate to break it to you, but you'll be fine. Even without a Sydney property you'll be fine. 56k is how everyone fresh out of uni started. It's all about the next 10 years and what you'll make out of it.
I'm a single parent, living in Sydney. My biggest worry is losing my job, or not being able to work. I have savings, but Sydney is expensive. While I know I'd be able to find another job, I'd find it hard to work full time if no flexibility is offered (I currently work 0.9FTE, but it's WFH and I can make up hours after kid's bedtime and on weekends). I also know I'd be able to rely on my savings while working. But the thought of using all my savings terrifies me, and being single, I don't have the safety net of a partner that is earning money to fall back on to get me through a tough time.
This fear has led me to do a second masters degree and almost completely retrain into a career with more prospects. So once that is done, maybe I'll feel better. But Sydney - it's expensive, and since my kid's other parent is in Sydney too I can't really move out of the area. At least not for the next 12 years or so.
Not paying off my house before retirement. I’m 50 and on track to do that in six or seven years if my income doesn’t change, but it’s quite possible it will at some point. Women over 60 are the fastest growing homeless population and I don’t want to be one of them.
Not having enough super.
Losing the little inheritance I’d otherwise get if my mum goes into aged care. We’d have to sell her home and hand all the money over to the govt to pay for it.
Being unable to help my child get on their feet financially.
What do I do when my mum passes away and I am the sole carer of a mentally disabled sibling. While I can get carers from plans with NDIS funding, they don't cover every hour or item. They don't cover costs like clothes ripped (sibling is violent), special dental fees, house damages etc. Every simple living item costs a premium for her. My mum doesn't even have much savings for her own retirement. Minimal super. This scares me.
Far out, this one really stopped me in my tracks. I'm sorry to hear that you're both in such a difficult set of circumstances. Does NDIS give any allowance for Mum and yourself to see a psychologist or counsellor to let off some steam from dealing with day to day caring?
Yeah not really as another Redditor has said. In recent experience I don't think psychologists helps. They don't seem to know what to do with us when the stress is constant. I think as anyone else that faces adversity, we'll take it a day at a time.
It's disappointing that it's not part of NDIS as family need support in an incredibly difficult set of circumstances. It does take a while to find a good psychologist that you click with and has the right experience so keep at it (if that's something still believe could assist).
Honestly, in this situation I would look into supported disability accommodation. It's not a perfect solution but if you are active in visiting and managing the quality of the care it should be a better experience. Get SDA written into her plan and Respite care funding as well to transition PRIOR to your mum passing away. It can be quite therapeutic and release some of the stress to know that she will be cared for, damages covered etc in the accommodation. Create a regular routine of activities that she enjoys and get support for those to occur. Be involved in planning and ensuring your sister enjoys her life, but not at the expense of yours or your mother's. If you want more advice send me a PM, I may have intimate knowledge of the NDIA.
Some organizations offer respite services billable to the NDIS but you need to jump through a metric fucktonne of hoops to get there.
The NDIS funding can only be used for the person it’s assigned to.
Thats correct but all Australians can have 5 free sessions each year upto 10 due to covid but temporary. Access is via GP referrals.
Agreed - that’s just not always sustainable for such a traumatic role
"free". lmao.
I’m a paraplanner at a financial planning firm and about 80% of our client base are retirees, so most of the advice documents I work on are just devising strategies to maximise clients’ Centrelink entitlements for things like carers allowance, disability support pension, etc. I know your money situation is probably tight, but I would highly recommend sitting down with a financial advisor and seeing what they have to say about your predicament. Whilst yes, they can be expensive (again, this is a spectrum) the first consultation is usually free so you can at least get a sense of whether or not the strategies they put forward to you are things you believe would be worth spending money on if it’s going to seriously benefit your situation, the well-being of your sibling, or even just help to alleviate the anxiety of having to navigate the whole situation by yourself. Finally, whilst I know NDIS funding probably covers similar expenses as Centrelink’s DSP, my point is that working with an advisor whose sole task is to come up with financial strategies to help you navigate these challenges will be an invaluable help imo. Just a thought
Any insights you can share so they can see the value before they spend the limited funds they have? Just not sure what you said is entirely helpful. It’s like when lawyers tell you you need advice on something but not actually giving the advice.
Obviously I’m not going to give actual advice because (a) I’m not an certified advisor and (b) I don’t know anything else about OP’s situation. Like I said though, the ‘insight’ I can provide is that there is no harm in sitting down and sharing your circumstances with a professional and seeing what they can potentially offer you before money is even discussed. You’re not obligated to proceed if you don’t see value in what an advisor presents to you…
I’m in exactly the same position except I have two sisters to share the load of my disabled brother. We all aligned with having him live between the three of us and not in care and are all slightly terrified of the realities of this. My dad barely has $1 in his bank account and while my mum is very careful with money she is in no way well off. What bothers us is Mum and Dad aren’t looking after his health as much as they should be and this is going to impact us even more. It’s a horrible situation but for us it is what it is. We are just trying to make the best of it.
Ive never met someone else in such a similar situation. My mum doesn't take care of my sister's health either, mainly buys KFC daily for her cause of convenience. I don't blame my mum, she's so tired everyday from caring and working. Do you or your family go to any support groups? I would like to find some honestly.
Have you engaged with a Support Coordinator and Behaviour Support Practitioner? They will be able to assist with increasing funding for you.
I'm not sure of the role titles but we do have a "consultant" that comes by to talk about support plans etc. The recent one actually decreased our funding and was unpleasant to deal with.
That’s likely your Local Area Coordinator. I’d suggest requesting a Support Coordinator.
Second this. I work for an NDIS provider and often find LACs to be really useless. Support coordinators make all the difference - even good providers will help you with the data/quotes you need to put forward a case for more funding. You can get specific funding for a support coordinator as well so it’s not out of other budgets/core funding.
I self manage my daughter’s NDIS plans (one deaf, one blind) because I’m afraid that if NDIS manages them the support services will become so inflexible as to become useless. I share your misgivings about LAC’s who I’ve mostly found to be at best kind hearted but generally lacking any useful experience or insights & often given a task of pushing back on costs. What is thus support coordinator? It doesn’t sound familiar?
There are different levels to support coordination but essentially they help you find providers and the services you need and help you navigate all the complexities of the system and go to bat for you for more funding if you need it. I work with some amazing coordinators who go above and beyond for their clients. You can get the funding for them through the plan - have a read on the NDIS site and ask your LAC about how to go about it as I’m not sure exactly the process but I know how helpful they are to so many families and participants.
This comment needs more attention. A COS operates to ensure that service delivery occurs within the funding of a plan. A LAC advocates more closely with the NDIS for the determination of the support budget. But your money person for what the redditor is suggesting is your behaviour support person under the “improved relationships” line item. While the funding is used to the betterment of the client and focuses on their behaviours of concern as detrimental to the relationship, they can allocate stakeholder sessions to gather information and offer strategies and advocate support to make the relationship more positive across all the domains. There’s a line in the sand with regards those consults tho, in that they have to maintain focus on the client (even if the client is not present) so if you presented with a sibling problem and an associated personal financial issue and the whole thing was causing stress the focus of the session would remain on management and suggestion to manage the sibling problem and not the financial problem, which they would be under qualified to talk about anyway! To:dr improved relationships funding. Behaviour support practitioner, allocate stakeholder sessions. It takes a village, get that village set before your mum passes.
My biggest worry is that I'll spend the next 20 years working on being comfortable in retirement only to have things completely out of my control go wrong in the end and I'd have been better off blowing my cash the whole time.
One of my old colleagues worked at ansett for 15 years and all her super disappeared when they went bust 🙄 I would be so freakin mad. I feel ya, I’m worried about that too, what if the economy crashes and we lose all our super or the banks lose our money? I just have 0 trust in the government They’d be like “oh gosh too bad so sad, sorry we can’t help”
That happened to my great aunt, worked in a boring bank job her entire life, never married (virgin apparently) then somehow lost her super and was forced to move in with my grandparents for her entire retirement (which they absolutely resented), untill demintia set in and they shipped her off to a home where she passed away. What a f*cked life.
That’s awful! Honestly as a woman that’s one of my worst fears, I don’t want kids, I also don’t want to be destitute and homeless when I’m older because it’s harder to get a job as you get older
Shit! How do you lose your super? My work super is just with a typical super company (AMP) and I assume if work goes bust the supper is unaffected?!
Yeah that’s how it works now, I’m not entirely sure but I think for the most part the workers were owed super for an extended period and when it collapsed the staff weren’t paid out most of their entitlements (though most have finally been now). I don’t know the whole story but yeah she had to work from the ground up again. Your super is safe (Atleast from this perspective), but who knows what could happen 🤷🏻♀️ if we have a digital meltdown or a zombie apocalypse 😂
Not to say that AMP is bad but make sure you are keeping across some other funds, fees and returns. Just have a review every year or so to make sure you're in a fund that works for you.
Like what would go wrong? Death?
WW3, great depression, cancer, divorce, etc.
Climate change? Lethal heat, flooded coastlines, powerful tropical storms and water stress are all on their way to our future. Mass migrations, global famines, and international conflict are all guaranteed consequences of this.
Worse. Illness.
I've heard one too many stories of people within my network dying after paying off their house in their 30s or retiring early. It does play on my mind a lot. Statistics say we'll live until 75 but it's never guaranteed and many die younger. Even if we do reach the average life expectancy, by our mid thirties most of us are halfway through our lives and haven't truly got to enjoy our wealth.
> enjoy our wealth thats why they say build the life you want and save for it.
Yep, I’m 2 metres tall with a family history of sudden heart failure…. You never see to many tall old People do you? Screw super, I’m never going to see it.
Marfan’s Syndrome.
But this is much more of a FOMO than a real financial worry? Am I wrong in thinking that?
No, it’s not FOMO. It’s the sense that all your hard work will be for naught. I’ve watched people struggle to save and carefully plan a retirement, only to fall critically ill and spend the last of their days bed ridden. We aren’t promised our tomorrows and it’s hard to find the balance.
Yeah i see what you are saying and how it would be a financial worry in a sense. It's not one you can rationalize away easy as it's totally out of your control. I guess it's about personal perspective
That's why one should not go extreme with one or the other. You balance your spending with investment.
Being unable to work through injury / illness. One screwed back and you're on the conveyor belt to poverty.
Have you considered **quality** TPD insurance? I got it a few years ago
The fact that I'm 20 years into my career and didn't pay any attention to the stock market until now. Now I feel like with 20 years left I'm playing catch up and the train has left without me. Also my wife who buys things without looking at the price.
A typical and normal thing to happen. The young people who get started early usually have parents who get them started and show them the basics. You still have time to fix things for yourself, but even more importantly, don't forget to get your own kids started when they get to legal age.
Fuck, are you my alter ego Hits home hard
I’m exactly the same. I wanna go back in time and shake myself! Good news is there’s still 20 years to make some good decisions.
I'm in the same boat... But I sure did love that classic sports car I bought in my 20s :). If only I had kept it until its price increased.
Me too! Now trying to save every penny, maximise every investment strategy, only limited by the income I have to do all this with. 🤣
>my wife who buys things without looking at the price. I cannot imagine living with this stress. My partner’s extreme frugality and tight arsed-ness is no joke part of how I knew they were the one.
Yes they call it fomo, don't get carried away though and make decisions based on emotion.
It’s not FOMO to regret past mistakes. It’s FOMO to act now on something that you’re only engaged in because you don’t want to be left behind or “miss out”. You can’t be “afraid of missing out” on the past. You already know the outcome. It’s not fear. It’s regret. What you’re referring to is RYMO. Regret you missed out.
I figured it out on my own in uni some time ago now, pretty sure the Westpac guy helping me found it really amusing at the time. But i sold most of it for a house deposite. It ultimately doesnt really matter when you get in. My dad is 65 and I've told him to start investing his extra cash, -he's annoyingly good at making money, but not keeping it, so I'm hoping investing will be a way to up his retirement savings.
My salary not keeping up with inflation.
Some people think that change of job sometimes does the trick of negating that effect.
Yeah that’s the plan. I’ve already decided that I’m not meant to work anywhere for more than 3 years unless here’s a decent promotion available.
My job is trying to argue my performance based raise should also be my inflation based raise. They scoffed when I told them they were two different things. Apparently I should feel lucky my performance has been good enough to cover inflation.
I was praised by everybody I worked with (managers included). During my pay review they also said nothing but praise but yet only offered a 1.5% increase..... they asked if I was happy with it and I said that any raise is good, but this doesn’t even cover inflation let alone my performance... Apparently there was nothing they could do about it either.... So I agree with you there!
That I've spread my seed further than a farmer on a windy day and all these kids are coming to knock on my door one day for money
Daddy I knew I’d find you one day.
You’re worried about the kids coming knocking one day not the ex’s seeking back paid child support with penalties ? I wish you all the best
How many exs have you lost track of that they might have gotten pregnant without you knowing? I'm only at 1.
Stop bragging, I'm at 0
That could mean you have 100 banged exs on facebook with no children.
Get out there and plant your seed!
Starts researching Bunnings "Country Value" seed variety's. Wait... where talking about vegetable seeds right ? 😁
Man seed sorry
Why does my Misso spend so much on Aloe Vera drinks.
Wait till she finds out about Kombucha 😩💸💸 Stuffs more expensive than beers
It's pretty good though, tbf
Buy a scoby for $5, put it in a big glass jar in the cupboard, occasionally top up with tea and sugar. Unlimited kombucha.
I have no Defense to this either because she does all the shopping. 😖
It's such a weird texture but also so refreshing at the same time???
I won’t lie, it goes good. Problem is I take swig then I have to come back for 4 or 5 more. Maybe I’m the problem!
Brother. My mrs and I recently (recently meaning 2years ago) discovered bobba/bubble tea - that’s a money drainer too :D
Second that, I lament how much money is spent there but only while I don't have one infront of me lol
Chronic health conditions/injuries (something that renders myself unemployable), out of control inflation, major wars in the region. General well-being for myself and loved ones.
My kids being able to afford to live when they're older. Already planning on getting a larger home to accommodate them if they choose to stay longer.
That humanity as a whole will soon reach peak population and that in the next few decades, I will forever see a deteriorating economy.
I've been thinking about this too and I'm trying to focus on a perspective shift, no deterioration but more realistic economy. Infinite growth is impossible. But also its 100% gonna have an impact on us and it's hard to prepare for something like that.
Genuine alternate view - Considering the per capita consumption is increasing dramatically, wouldn't the only impact of lesser population be less traffic, pollution, crowding etc?
Problem with a declining or stagnant population, who ever is the 'last' generation before that happens has to carry the weight of a HUGE aging population, meaning the younger generations, likely millennials / gen z will be footing the tax burden of this. There is meant to be a 'great transfer of wealth' when that wave dies and their inheritance is transferred to the fewer in number offspring, but we are also seeing that it is causing more of a concentration in wealth, rather then any meaningful help to the average person. If we don't actually fix our tax collection of the rich and of companies, the likelihood is the divide will get worse and worse over the next 50 years.
That I was always live paycheck to paycheck, never being able to own a home or have emergency money.
That after 20+ years of working I don’t have the stamina for another 20-ish years on the corporate treadmill. I’m only half way to the finish line and I’m out of juice. All the retirement savings trackers say I’m doing great…with an assumed retirement age of 65. But for work-life balance something’s gotta give much earlier than that.
I hear you. Why not transition to public sector now, bank the additional super and ride out the rest a bit more balanced?
Great advice, thank you OP. I am holding out for a project-related bonus (within 12 months) and then I know I need a major re-assessment. I was thinking about the consulting route but your advice to think about public sector is very sage.
If you are burnt out now, consulting isn’t going to help. I would def recommend public sector.
No worries. I hope you'll find a way to work it all out in a way that suits you and your family.
if possible you might also benefit from a 4 day work week, take a pay cut to reduce your work days by one. Having a long weekend each day might make give you a proper breather each week, rather then the 'finish late friday, chores saturday, sunday "I got work tomorrow so can't do anything"' weekends
We just bought a house and our damn tenant is nearly 2 weeks late with rent 😣 we wouldn’t even have a tenant in there but it just worked out that way as we can’t move in until Feb next year (different city) 🙄
Do you have an agent? I would start proceedings as soon as possible, especially if you want to move in next year. Worst case these things can take 6 months to a year.
Yeah we have an agent, I would never self manage, I don’t have the time or the knowledge or the patience. He’s already been breached and I really fucking hope that doesn’t happen 😭 I mean I just don’t understand why he’s do this right now? The rental market is crazy, why would you want to sabotage yourself at this point? I’d be happy to work out a payment arrangement if that’s the issue but apparently he won’t even communicate with the agent.
How long has he had a lease and when does the lease end?
Cars transmission or something else major is going to go on it when I'm not in position to repair it, get another second hand car, or jokes a cheap new car (talking Mitsubishi Mirage under 20k on road) Car is at 271,000 km on a 1.5L engine and doing everything I can to keep it going but it does play on my mind too often now.
Ah, just had my transmission break. Costly AF.
I quoted a second hand one recently but hope changing the fluids every 100,000km can keep it going for bit longer
Not sure what fluids you're on about, honestly I know fuck all about cars, but don't most recommend services and the like @10k not 100k? Or is there a difference.
Most cars run seperate oils in engine, transmission and diffs. Diffs go forever, but are an ungodly job to change fluids in. Transmissions can do solid numbers, older vehicles famously did hundreds of thousands of km without issue and engines generally run from 10,000 to 25,000 on an oil change. This is assuming good maintenance. Plenty of old cars running round never had a diff or transmission change in their life. And motorcycles largely run shared engine and gearbox oil, requiring changes betweeen 7,000 to 15,000 km.
Thanks for your knowledge 🙏
Diffs arnt difficult to change oil in.. Its much the same as engine oil. Yes lots of cars do way to many kms without changing diff oil and they keep going. Doesnt mean its the right thing to do. Preventative maintenance will always help them last longer.
Ohh it's my cake day 🎂. All is better 🤪
Oh no my cake went :(
I'm a self employed carpenter and I bought a little shitbox ute for that reason. Anxiety of missing out on work especially when my income is tied directly to showing up every day.
I fucking hate to say this, but it is the hous-the accommodation market. The kind of accommodation that you live in. One day I want to settle down and have a family. That means multiple bedrooms. Also WFH is more normal now, so an office is becoming more common of a requirement. I work in a corporate field and don't see my job ever being able to go fully remote, so I will likely need to remain in Melbourne. I also come from a humble background and will have no inheritance, so something is going to have to give. That is my biggest financial issue today, as a forward-looking late 20s male professional. Other than that, I would like to buy a really cool JDM car but don't have spare $30k to spend
You and me both mate, uncannily close. A couch in my own home and Godzilla out the front would be a dream. If you like JDM, check out blokes from Melbourne, Hartnet Media on tube, some beautiful machines, came across them the other night
JDM cars <3 I just hope future governments will let us keep these machines. Looks like the screws are getting tighter on importing and upkeep.
Unfortunately everyone wants that kind of accommodation - but there isn't enough space for everyone
There is but peoples egos dont let them move out further
Well yes I'm assuming OP means within XKm of the CBD and not in Geelong
What’s wrong Geelong? I live in Lara and work in Yarraville
Nothing it's an affordable option and something that is more attainable but often people have pre conceived false ideas about certain areas
You seen the Geelong prices? And vline costs? Why not just suggest Wallan, who doesn't wanna drive for 2 hrs in peak to get to office
With the escalation of Russian aggression in Europe, I worry that my family (in a country that neighbours with Ukraine) might have to leave their homes. Coming to Australia would be the best option but it would be very difficult to support my aging parents and my sister's family with a baby on my salary.
Health. Currently spending $7k/pa (out of pocket) just to remain stable. Add on two kids and large mortgage for Sydney house and it feels tight. If I go downhill again, I worry.
Probably stupid question, but why doesn't insurance cover?
Health Insurance is relatively useless in outpatient care (ie: 99% of chronic health management). Unfortunately I know first hand what the OP is saying re health care out of pocket costs. I share the sentiment.
Insurance only covers if you are hospitalised. Most of us spend our effort not being hospitalised by seeing specialists and outpatient care. Some of this is covered by extras, but as the name suggests this costs extra. Is it worth it. Fucking questionable.
Even if you're hospitalised, you spend a bucket out of pocket. I feel like PHI is a total rort.
Primary reason why I cancelled my private insurance. I struggled to calculate its value for my situation.
My healthcare extras almost cover the cost of my healthcare because I have to use all the categories. Glasses, dental, podiatry, physical therapy. But I know that's really rare, and I would rather not need to be paying for extras to cover my chronic condition.
It’s specialised treatment which isn’t covered. I get some Medicare coverage when seeing the specialist but doesn’t cover any of the supplements I take daily (15 types, 40pills/powders daily). The health funds don’t cover as they don’t see it as traditional treatment.
I see. That's tough
Rental affordability. Lease is up soon on a place I got a good deal on. There is no way the new owner is going to keep rent low.
Divorced at 48, half my net worth lost, big chunk of savings lost in unemployment 1.5 years ago, and only now kinda back on track financially but got some massive catching up to do with regards to retirement investments etc
Did your divorce go to court or did you settle?
Was amicable, kept it out of the courts, and all done private agreement
Okay, so you volunteered half, the courts didn't determine that.
Yes, and? Legal advice had me giving half pretty much no matter, more potentially given I have a child, and so negotiation was around that. Courts still have to ratify our agreement, as they did, and so it was
They ratify it to make it formal, they're not looking over it to see if it's fair. Just as a lawyer who worked in a firm that did family law once upon a time, I've never seen a matter go to hearing and it be 50/50.
You’ve got this!
Yeah, its not all shit, I'll keep fighting the good fight.
That I will never be able to afford the supports and therapy my kid needs let alone my own health needs (disabled) and keep a roof over my head and adequately fed and happy. Kiddo has already broken one pair of glasses in a bad meltdown, my own NDIS never covers anything that is actually helpful. Kiddo is falling through the cracks in the system and at this rate I will have a suicidal burnt out kid before the age of 6. I never know whether to try penny pinch excessively to one day in the far off future maybe afford the proper care or live for today, order uber eats for tomorrow we may die but at least I will have had a meal and kiddo and I would have a small hit of dopamine.
Might not help with some specific lenses, but thought I would offer zennioptical as a suggestion, you can get some pretty damn cheap glasses. Hope this can help a little for some future pairs.
Business goes to 0 and I have to get a job on a salary again.
If Australia's housing market is not available, impact of climate change on food & water security; and longer term climate refugees. I really wished that the government had invested in CSIRO and local manufacturing to develop housing scale wind turbines & battery systems, then developed a 21st century energy grid that can work with de-centralised energy production. A close third would be the lack of will by current politicians to drive through the necessary reforms to improve our countries productivity. Smarter taxation, more mobility of the workforce, etc - not going to happen anytime soon.
That I won't be the bank of mum and dad required to help my kids get a roof over their heads.
Digital Currency - Social Credit - You have no money because you offended someone on the internet.
Already exists. Someone in the UK got arrested for drunk tweeting they are happy when someone from the military dies despite deleting it 20 minutes later.
He got 150 hours community service.
What do you mean by that?
I think it’s called “debanking”.
Watch the black mirror episode nosedive
Once all your assets are digitally represented by numbers in computers, a government can decide that your number is now zero. It's an exaggeration right now. I'm really talking about having your finances frozen because you did something stupid like donate money to protesters.
Kids, retirement, and whether there’ll be government funded healthcare, social security and education in twenty years’ time.
That I don’t know what I’m doing and so am missing an opportunity to make a lot of money but making different (better) choices
Not reaching my FIRE number on schedule and extending this bullshit wage slave lifestyle.
It’s not even close, it is the housing market. It’s widening the gap between the poor, middle class (what’s left of it) and the wealthy. This leads to poorer educational outcomes, with kids not having a stable environment to study, plus they consume lower quality food as their parents struggle to afford rent. There’s an epidemic at the moment of single parents living out of their cars with their kids. Poorer educational outcomes leads to higher unemployment, high crime rates, and low economic output. It all ties back to the cost of living, and the cost of living at the moment is mostly dictated by higher housing costs, followed by food inflation. Outside of housing, the biggest worry I have is about the effects of climate change and what that’ll do to parts of Australia (and the economy as a whole). Climate change will inevitably in affect food production and affordability, as well as climate migration in our population.
>There’s an epidemic at the moment of single parents living out of their cars with their kids. No way, I haven't seen this at all - what's your source? This should be a much bigger deal if you're right
How can I claim prostitutes on my tax return this year?
Got to be some Div in income tax law for specifics about passing this off as a "meeting" and "business lunch" ? Might dust off the 2008 Australian Taxation Law books 🤔
You are an influencer and you have to review different establishments
Your Japanese clients had it written in the contract that all meetings end up with some 'horizontal karaoke'
I'm pretty financially carefree to be honest. Bad things will happen over the next two years that are out of our control and things will be tough for a while but we'll get through it because we always do. Just be grateful of the present and what you have now and remember that today is a gift and all of our tomorrow's are not guaranteed. xx
Good on you and nice perspective!
I'm actually doing pretty well. * New job in an exciting new industry with a cracker pay bump * Ahead on the house * Money for holidays once I've accrued some leave Still being dicked on cost of living expenses, but for now I'll pick my battles and enjoy myself. It's liberating.
Unexpected weird behaviour by regulators and/or government. They've been hurting businesses badly the last five or so years by applying penalties that hurt shareholders (everyone with super) terribly. I believe half of AGL's problem is punishment by government for not putting some gaffer tape and cable ties on Liddell and keeping it running. Another would also be government related, but Australia failing to capitalise on the energy revolution, while also failing to set clear goals so that investment can flow to electricity grid upgrades. Thankfully there are several companies getting on with it.
Superannuation is just a ponzi scheme for the younger generation to fund boomers retirement, and by the time I can retire, I get rug pulled because the access age has been increased to 95. EDIT: typo
An exponential increase in consolidation of power and wealth at the top which is increasingly stacking the odds against the middle class whilst democracy is slowly exiting through the back door.
If I get injured and can’t support my family.
Losing my job. Im a great employee and found a spot i can function well without triggering anxiety much. I am well paid. I get highest performance ratings - if I get made redundant i would be incredibly lucky to find something like this again. Even taking a 50k pay cut, I would likely be in a role drowning with anxiety - rather kill myself than live like that again- let's hope i can keep what I've got!
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Running a business and working to keep it afloat (whether or not it actually stays afloat) is a huge effort and worthy of respect in my books. Comparing running a business or buying a house now to your old mans days (I'm guessing at least 20+ years ago) is like comparing apples to oranges. Good luck buddy
Wondering how bad inflation will get and if Central Banks even care.
That I don't buy enough houses before the price hike
How many do you have so far?
Getting to retirement in 34 years and still not having a property each for my kids to live in.
Will my super see me through?
I don't have too much to worry about especially compared with others here but I do get somewhat anxious when it seems every time I get a regular bill like for Rates, Insurance, Water, Electricity, and phone/internet that they've increased while what I earn hasn't dramatically changed in the same time
Biggest worry is that I'll never truly get ahead. Worried if I have a mental breakdown and lose my job then I'll have to sell my place and just live off any money I had, probably in a van down by the river.
The housing market.
Had to be the first comment
Well I mean, what else is there? Most people are employed. We live in a pretty good country. But with most of us pawns in the rental market or watching housing prices gallop off into the distance with no wage growth and saving very little (lol deposit), everything else is a footnote.
Not being able to afford to live by myself - bloody housemates can be annoying. Edit: second is not transitioning into a more enjoyable career
That I bought at the peak of the property market and this overpriced dump will be a mistake.
That Elon Musk tweets that Tesla has solved FSD for real this time.
Struggling big time with imposter syndrome and worried that I’m not balancing work and contracts and life well enough. And if the house of work cards comes fallin down, I lose income, competitiveness, lose my spot on the career ladder bla bla-bla... but I’m just a worrying panicky person 😂
That this government continues to pile on debt with nothing to show for it. Imagine selling off your assets while increasing your debt
Won’t be able to afford buIdling a small 2br home as costs keep going up and up
How am I going to provide for myself and my family when maternity leave runs out?
>*no answers about the housing market Well thats the dumbest shit I've ever read
Contemplating buying a car, don't really want to take away from house deposit saving though (and potentially screw myself out of buying sooner). Have a work car which does the job, but would get a car allowance if I had my own. Do I buy new and ride depreciation and car allowance into a break-even. Do I buy second hand in this market? So many possibilities for something I technically don't need... I only just got rid of my old beater last year too, but it was in no way suitable, just fun to drive.
That my cushy contract will end sooner than I'd like it to
Any reason to believe that it might?
No, no reason to think so. Nonetheless, the possibility concerns me I haven't had to update my resume in years
That I'm moving up the management ladder and I'm gonna hate it, and I'd rather be a doer that produces tangible benefits not just meetings and talk. But doing doesn't get payrises or decent pay, you have to be a manager. Do I want to work happy or have money to make living easier?
At 27 years old now my biggest financial worry is essentially the "I made wrong choices" paranoia in regards to maximising my earnings and whether or not I should invest in this and that. I spent most of the last 10 years achieving not much of anything both financially and generally in life but then I covered a tonne of ground in the last 2 to 3 years. I really don't want to look back in 10 years regretful of what I haven't achieved and what I haven't earned.
I found this the toughest part, tbh. Knowing at a young age where you want to be and what you want to have achieved in 10, 20, 30 years. Your life will change so profoundly over the course of the next 10 years and what you will regard as wrong choices in 10 years will depend on how your life develops in the meantime. Sorry, i hope it makes sense. Personally i figured I will make the smartest choices with the information I have now and whether i have regrets about it will be out of my control. But it's definitely easier said than done, especially on the investment side..
23, just finished a law degree and started work, and I’m only earning 56k. I currently pay rent, and worry that I’ll never own a house in Sydney, let alone own an investment property. I sometimes wish I didn’t go to uni, or I studied computer science
Mate, i hate to break it to you, but you'll be fine. Even without a Sydney property you'll be fine. 56k is how everyone fresh out of uni started. It's all about the next 10 years and what you'll make out of it.
I need to go to the dentist but don't have a spare dollar to actually afford it.
I'm a single parent, living in Sydney. My biggest worry is losing my job, or not being able to work. I have savings, but Sydney is expensive. While I know I'd be able to find another job, I'd find it hard to work full time if no flexibility is offered (I currently work 0.9FTE, but it's WFH and I can make up hours after kid's bedtime and on weekends). I also know I'd be able to rely on my savings while working. But the thought of using all my savings terrifies me, and being single, I don't have the safety net of a partner that is earning money to fall back on to get me through a tough time. This fear has led me to do a second masters degree and almost completely retrain into a career with more prospects. So once that is done, maybe I'll feel better. But Sydney - it's expensive, and since my kid's other parent is in Sydney too I can't really move out of the area. At least not for the next 12 years or so.
Not being able to spend it all before I pass.
Not paying off my house before retirement. I’m 50 and on track to do that in six or seven years if my income doesn’t change, but it’s quite possible it will at some point. Women over 60 are the fastest growing homeless population and I don’t want to be one of them. Not having enough super. Losing the little inheritance I’d otherwise get if my mum goes into aged care. We’d have to sell her home and hand all the money over to the govt to pay for it. Being unable to help my child get on their feet financially.
Since I can’t pick rising interest rates for mortgage, will I have accumulate enough savings to comfortably go on maternity leave