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Could not getting enough sleep increase your risk of type 2 diabetes?

<div class="theconversation-article-body"> <a href="https://theconversation.com/profiles/giuliana-murfet-1517219">Giuliana Murfet</a>, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/shanshan-lin-1005236">ShanShan Lin</a>, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> Not getting enough sleep is a common affliction in the modern age. If you don’t always get as many hours of shut-eye as you’d like, perhaps you were concerned by news of a <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2815684">recent study</a> that found people who sleep less than six hours a night are at higher risk of type 2 diabetes. So what can we make of these findings? It turns out the relationship between sleep and diabetes is complex. <h2>The study</h2> Researchers analysed data from the <a href="https://www.ukbiobank.ac.uk/">UK Biobank</a>, a large biomedical database which serves as a global resource for health and medical research. They looked at information from 247,867 adults, following their health outcomes for more than a decade. The researchers wanted to understand the associations between sleep duration and type 2 diabetes, and whether a healthy diet reduced the effects of short sleep on diabetes risk. As part of their involvement in the UK Biobank, participants had been asked roughly how much sleep they get in 24 hours. Seven to eight hours was the average and considered normal sleep. Short sleep duration was broken up into three categories: mild (six hours), moderate (five hours) and extreme (three to four hours). The researchers analysed sleep data alongside information about people’s diets. Some 3.2% of participants were diagnosed with type 2 diabetes during the follow-up period. Although healthy eating habits were associated with a lower overall risk of diabetes, when people ate healthily but slept less than six hours a day, their risk of type 2 diabetes increased compared to people in the normal sleep category. The researchers found sleep duration of five hours was linked with a 16% higher risk of developing type 2 diabetes, while the risk for people who slept three to four hours was 41% higher, compared to people who slept seven to eight hours. One limitation is the study defined a healthy diet based on the number of servings of fruit, vegetables, red meat and fish a person consumed over a day or a week. In doing so, it didn’t consider how dietary patterns such as time-restricted eating or the Mediterranean diet may modify the risk of diabetes among those who slept less. Also, information on participants’ sleep quantity and diet was only captured at recruitment and may have changed over the course of the study. The authors acknowledge these limitations. <h2>Why might short sleep increase diabetes risk?</h2> In people with <a href="https://www.diabetesaustralia.com.au/about-diabetes/type-2-diabetes/">type 2 diabetes</a>, the body becomes resistant to the effects of a hormone called insulin, and slowly loses the capacity to produce enough of it in the pancreas. Insulin is important because it regulates glucose (sugar) in our blood that comes from the food we eat by helping move it to cells throughout the body. We don’t know the precise reasons why people who sleep less may be at higher risk of type 2 diabetes. But <a href="https://doi.org/10.7759/cureus.23501">previous research</a> has shown sleep-deprived people often have increased <a href="https://doi.org/10.1186/1476-511X-9-125">inflammatory markers</a> and <a href="https://doi.org/10.1007/s00125-015-3500-4">free fatty acids</a> in their blood, which <a href="https://doi.org/10.1007/s11892-018-1055-8">impair insulin sensitivity</a>, leading to <a href="https://doi.org/10.7759/cureus.23501">insulin resistance</a>. This means the body struggles to use insulin properly to regulate blood glucose levels, and therefore increases the risk of type 2 diabetes. Further, people who don’t sleep enough, as well as people who sleep in irregular patterns (such as shift workers), experience disruptions to their body’s natural rhythm, known as the <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5995632/">circadian rhythm</a>. This can interfere with the release of hormones like <a href="https://doi.org/10.1210/edrv.18.5.0317">cortisol, glucagon and growth hormones</a>. These hormones are released through the day to meet the body’s changing energy needs, and normally keep blood glucose levels nicely balanced. If they’re compromised, this may reduce the body’s ability to handle glucose as the day progresses. These factors, and <a href="https://www.science.org/doi/10.1126/sciadv.aar8590">others</a>, may contribute to the increased risk of type 2 diabetes seen among people sleeping less than six hours. While this study primarily focused on people who sleep eight hours or less, it’s possible longer sleepers may also face an increased risk of type 2 diabetes. Research has previously shown a U-shaped correlation between sleep duration and type 2 diabetes risk. A <a href="https://doi.org/10.2337/dc14-2073">review</a> of multiple studies found getting between seven to eight hours of sleep daily was associated with the lowest risk. When people got less than seven hours sleep, or more than eight hours, the risk began to increase. The reason sleeping longer is associated with increased risk of type 2 diabetes may be linked to <a href="https://doi.org/10.2337/dc15-0186">weight gain</a>, which is also correlated with longer sleep. Likewise, people who don’t sleep enough are more likely to be <a href="https://doi.org/10.1016/j.sleh.2017.07.013">overweight or obese</a>. <h2>Good sleep, healthy diet</h2> Getting enough sleep is an important part of a healthy lifestyle and may reduce the risk of type 2 diabetes. Based on this study and other evidence, it seems that when it comes to diabetes risk, seven to eight hours of sleep may be the sweet spot. However, other factors could influence the relationship between sleep duration and diabetes risk, such as individual differences in sleep quality and lifestyle. While this study’s findings question whether a healthy diet can mitigate the effects of a lack of sleep on diabetes risk, a wide range of evidence points to the benefits of <a href="https://www.who.int/initiatives/behealthy/healthy-diet">healthy eating</a> for overall health. The <a href="https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2815684">authors of the study</a> acknowledge it’s not always possible to get enough sleep, and suggest doing <a href="https://pubmed.ncbi.nlm.nih.gov/33137489/">high-intensity interval exercise</a> during the day may offset some of the potential effects of short sleep on diabetes risk. In fact, exercise <a href="https://doi.org/10.1016/j.jshs.2023.03.001">at any intensity</a> can improve blood glucose levels.<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/225179/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/giuliana-murfet-1517219">Giuliana Murfet</a>, Casual Academic, Faculty of Health, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> and <a href="https://theconversation.com/profiles/shanshan-lin-1005236">ShanShan Lin</a>, Senior Lecturer, School of Public Health, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936">University of Technology Sydney</a> Image credits: Getty Images 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/could-not-getting-enough-sleep-increase-your-risk-of-type-2-diabetes-225179">original article</a>. </div>

Body

Stay or go? Most older Australians want to retire where they are, but renters don’t always get a choice

<a href="https://theconversation.com/profiles/christopher-phelps-378137">Christopher Phelps</a>, <a href="https://theconversation.com/institutions/curtin-university-873">Curtin University</a>; <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/william-clark-1488932">William Clark</a>, <a href="https://theconversation.com/institutions/university-of-california-los-angeles-1301">University of California, Los Angeles</a> As Australia’s population gets older, more people are confronted with a choice: retire where they are or seek new horizons elsewhere. Choosing to grow old in your existing home or neighbourhood is known as “ageing in place”. It enables older people to stay connected to their community and maintain familiarity with their surroundings. For many, the decision to “age in place” will be tied to their connection to the family home. But for many, secure and affordable housing is increasingly <a href="https://theconversation.com/ageing-in-a-housing-crisis-growing-numbers-of-older-australians-are-facing-a-bleak-future-209237">beyond reach</a>. This choice may then be impeded by a lack of suitable accommodation in their current or desired neighbourhoods. Our recently published <a href="https://doi.org/10.1177/01640275231209683">study</a> asks what motivates older homeowners and renters to age in place or relocate, and what factors disrupt these preferences. It suggests older renters are often not given a fair choice. <h2>Most older Australians want to age in place</h2> Having the option to age in place enables older people to retain autonomy over their lifestyles and identity, promoting emotional wellbeing. Using 20 years of data from the government-funded Household, Income and Labour Dynamics in Australia (HILDA) survey, we tracked the preferences of Australians aged 55 and over. Encouragingly, most older Australians are already where they want to be. Two-thirds (67%) of respondents strongly preferred to stay in their current neighbourhood, and an additional one-fifth (19%) had a moderate preference to stay. Only 6% showed a moderate or strong desire to leave. Ageing in place is then the natural choice for a vast majority of older Australians. <iframe id="s3LTM" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/s3LTM/1/" width="100%" height="400px" frameborder="0"></iframe> Our study highlights several motivations for people to stay put as they retire. For homeowners, family ties matter. Owners with children residing nearby were around one and a half times more likely to have a higher preference to stay. Older owners might then have a reason to call on their substantial <a href="https://theconversation.com/the-housing-wealth-gap-between-older-and-younger-australians-has-widened-alarmingly-in-the-past-30-years-heres-why-197027">housing wealth</a> and keep their children nearby via the <a href="https://360info.org/how-to-help-the-young-buy-a-home/">“bank of mum and dad”</a>. For renters, how long they stay is important. Those renting their home for 10 years or more were 1.7 times more likely to have a higher preference to stay than short-term renters. <h2>Renters face the most disruption</h2> The survey enabled us to follow where older people lived a year after they provided their preferences. This helped us gauge how often they turned their desires into reality. The chart below indicates that private renters face greater obstacles to ageing in place. Around one in 10 private renters that desired to age in place were disrupted – they wanted to stay in their neighbourhood but didn’t. This suggests they moved out of their neighbourhood involuntarily. Only 2% of homeowners and social renters experienced the same disruption. However, for those in these tenures that did not desire to age in place, involuntary immobility was a greater concern. Only 15% of those that wanted to leave succeeded, leaving the vast majority “stuck in place”. <iframe id="IlliV" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/IlliV/1/" width="100%" height="400px" frameborder="0"></iframe> The private rental market is the least secure of tenures, and so private tenants are often exposed to involuntary moves. Australia’s private rental system is lightly regulated compared to many other countries, creating tenure insecurity concerns. On the other hand, social renters were particularly susceptible to involuntary immobility. Social housing is scarce in Australia and subject to <a href="https://theconversation.com/its-soul-destroying-how-people-on-a-housing-wait-list-of-175-000-describe-their-years-of-waiting-210705">lengthy waiting lists</a>. A neighbourhood move often requires transferring to the less affordable and less secure private rental housing. Even after considering financial status, social renters were four times as likely to be stuck as compared to private renters. Social tenants are strongly deterred from moving in the current system. <h2>How can we support older Australians’ preferences?</h2> Our study exposes some barriers in the housing system that hinder people from being able to age in place, or move when they want to. Clearly, older renters enjoy fewer protections against disruptions to their preferences to age in place than older owners. For private renters, tenure insecurity in the <a href="https://theconversation.com/insecure-renting-ages-you-faster-than-owning-a-home-unemployment-or-obesity-better-housing-policy-can-change-this-216364">private rental sector</a> is a key reform priority. This can be achieved through stronger regulation that improves tenants’ rights. For example, more states could adopt <a href="https://theconversation.com/how-5-key-tenancy-reforms-are-affecting-renters-and-landlords-around-australia-187779?utm_source=twitter&utm_medium=bylinetwitterbutton">recent regulatory rental reforms</a> that support the rights of pet owners and protect against no-grounds evictions. Large numbers of older private renters also face severe <a href="https://www.oldertenants.org.au/publications/ageing-in-a-housing-crisis-older-peoples-housing-insecurity-homelessness-in-australia">rental stress</a>, which may force them to move from their preferred neighbourhood. <a href="https://theconversation.com/1-billion-per-year-or-less-could-halve-rental-housing-stress-146397">Commonwealth rent assistance reform</a> would alleviate some of this stress through an increase in rates and better targeting. An increase in the supply of social housing would play an important role in improving both tenure security and housing affordability. Older social renters enjoy fewer obstacles to ageing in place than older private renters. However, if social renters want to move into the private rental market to relocate, they face difficulty securing accommodation. This will likely discourage moves as it would require sacrificing the tenure security offered by social housing. However, policy initiatives that improve the <a href="https://www.ahuri.edu.au/sites/default/files/migration/documents/PES-358-Lessons-from-public-housing-urban-renewal-evaluation.pdf">quality of the public housing stock</a> can reduce feelings of being stuck. As <a href="https://www.aihw.gov.au/reports/australias-welfare/home-ownership-and-housing-tenure">homeownership rates decline</a> both among young people and those nearing retirement, we can expect the population of older renters to grow. Overall, our findings support a strong case for policy reform in the rental sectors to address the needs and preferences of older renters.<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/218024/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <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>; <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/william-clark-1488932">William Clark</a>, Research Professor of Geography, <a href="https://theconversation.com/institutions/university-of-california-los-angeles-1301">University of California, Los Angeles</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/stay-or-go-most-older-australians-want-to-retire-where-they-are-but-renters-dont-always-get-a-choice-218024">original article</a>.

Retirement Income

How long does back pain last? And how can learning about pain increase the chance of recovery?

<a href="https://theconversation.com/profiles/sarah-wallwork-1361569">Sarah Wallwork</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/lorimer-moseley-1552">Lorimer Moseley</a>, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> Back pain is common. One in thirteen people have it right now and worldwide a staggering 619 million people will <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7186678/">have it this year</a>. Chronic pain, of which back pain is the most common, is the world’s <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7186678/">most disabling</a> health problem. Its economic impact <a href="https://www.ncbi.nlm.nih.gov/books/NBK92510/">dwarfs other health conditions</a>. If you get back pain, how long will it take to go away? We scoured the scientific literature to <a href="https://www.cmaj.ca/content/cmaj/196/2/E29.full.pdf">find out</a>. We found data on almost 20,000 people, from 95 different studies and split them into three groups: <ul> <li>acute – those with back pain that started less than six weeks ago</li> <li>subacute – where it started between six and 12 weeks ago</li> <li>chronic – where it started between three months and one year ago.</li> </ul> We found 70%–95% of people with acute back pain were likely to recover within six months. This dropped to 40%–70% for subacute back pain and to 12%–16% for chronic back pain. Clinical guidelines point to graded return to activity and pain education under the guidance of a health professional as the best ways to promote recovery. Yet these effective interventions are underfunded and hard to access. <h2>More pain doesn’t mean a more serious injury</h2> Most acute back pain episodes are <a href="https://www.racgp.org.au/getattachment/75af0cfd-6182-4328-ad23-04ad8618920f/attachment.aspx">not caused</a> by serious injury or disease. There are rare exceptions, which is why it’s wise to see your doctor or physio, who can check for signs and symptoms that warrant further investigation. But unless you have been in a significant accident or sustained a large blow, you are unlikely to have caused much damage to your spine. Even very minor back injuries can be brutally painful. This is, in part, because of how we are made. If you think of your spinal cord as a very precious asset (which it is), worthy of great protection (which it is), a bit like the crown jewels, then what would be the best way to keep it safe? Lots of protection and a highly sensitive alarm system. The spinal cord is protected by strong bones, thick ligaments, powerful muscles and a highly effective alarm system (your nervous system). This alarm system can trigger pain that is so unpleasant that you cannot possibly think of, let alone do, anything other than seek care or avoid movement. The messy truth is that when pain persists, the pain system becomes more sensitive, so a widening array of things contribute to pain. This pain system hypersensitivity is a result of neuroplasticity – your nervous system is becoming better at making pain. <h2>Reduce your chance of lasting pain</h2> Whether or not your pain resolves is not determined by the extent of injury to your back. We don’t know all the factors involved, but we do know there are things that you can do to reduce chronic back pain: <ul> <li> understand how pain really works. This will involve intentionally learning about modern pain science and care. It will be difficult but rewarding. It will help you work out what you can do to change your pain </li> <li> reduce your pain system sensitivity. With guidance, patience and persistence, you can learn how to gradually retrain your pain system back towards normal. </li> </ul> <h2>How to reduce your pain sensitivity and learn about pain</h2> Learning about “how pain works” provides the most sustainable <a href="https://www.bmj.com/content/376/bmj-2021-067718">improvements in chronic back pain</a>. Programs that combine pain education with graded brain and body exercises (gradual increases in movement) can reduce pain system sensitivity and help you return to the life you want. These programs have been in development for years, but high-quality clinical trials <a href="https://jamanetwork.com/journals/jama/fullarticle/2794765">are now emerging</a> and it’s good news: they show most people with chronic back pain improve and many completely recover. But most clinicians aren’t equipped to deliver these effective programs – <a href="https://www.jpain.org/article/S1526-5900(23)00618-1/fulltext">good pain education</a> is not taught in most medical and health training degrees. Many patients still receive ineffective and often risky and expensive treatments, or keep seeking temporary pain relief, hoping for a cure. When health professionals don’t have adequate pain education training, they can deliver bad pain education, which leaves patients feeling like they’ve just <a href="https://www.jpain.org/article/S1526-5900(23)00618-1/fulltext">been told it’s all in their head</a>. Community-driven not-for-profit organisations such as <a href="https://www.painrevolution.org/">Pain Revolution</a> are training health professionals to be good pain educators and raising awareness among the general public about the modern science of pain and the best treatments. Pain Revolution has partnered with dozens of health services and community agencies to train more than <a href="https://www.painrevolution.org/find-a-lpe">80 local pain educators</a> and supported them to bring greater understanding and improved care to their colleagues and community. But a broader system-wide approach, with government, industry and philanthropic support, is needed to expand these programs and fund good pain education. To solve the massive problem of chronic back pain, effective interventions need to be part of standard care, not as a last resort after years of increasing pain, suffering and disability.<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/222513/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/sarah-wallwork-1361569">Sarah Wallwork</a>, Post-doctoral Researcher, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</a> and <a href="https://theconversation.com/profiles/lorimer-moseley-1552">Lorimer Moseley</a>, Professor of Clinical Neurosciences and Foundation Chair in Physiotherapy, <a href="https://theconversation.com/institutions/university-of-south-australia-1180">University of South Australia</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-long-does-back-pain-last-and-how-can-learning-about-pain-increase-the-chance-of-recovery-222513">original article</a>.

Body

Monty Python star's candid financial admission

Monty Python star Eric Idle has made a candid admission about the state of his finances, revealing why he still has to work at the age of 80. The comic legend admitted he receives only a fraction of the millions the Python team have made in the past because the finances are a “disaster”. In messages on X, formerly Twitter, Idle wrote: “I don’t know why people always assume we’re loaded”. “I have to work for my living. I never dreamed that at this age the income streams would tail off so disastrously." “I have been working and earning for Pythons since 1995. And now no more.” Idle also took aim at TV lawyer Holly Gilliam, the daughter of fellow Python member Terry Gilliam, who took over the Python brand in 2013 as part of HDG Projects Ltd. He said, “I guess if you put a Gilliam child in as your manager you should not be so surprised”. “One Gilliam is bad enough. Two can take out any company.” Daughter Lily Idle backed him, writing online, “I’m so proud of my dad for finally finally finally starting to share the truth.” The Pythons, who also included John Cleese, 84, Michael Palin, 80, and the late Terry Jones — made a fortune thanks to their iconic cult films, including Life of Brian, hit stage show Spamalot, which Idle co-wrote, and the original Flying Circus BBC TV series. They were back in the limelight in 2014 with Monty Python Live (Mostly) — One Down, Five to Go: a reference to former member Graham Chapman who died in 1989 aged just 48. It featured interpretations of some of their famous sketches, and reportedly earned the surviving members at least £2 million ($3.87m AUD) each. Image credits: Getty Images

Retirement Income

After a lifetime studying superannuation, here are 5 things I wish I knew earlier

<a href="https://theconversation.com/profiles/susan-thorp-214">Susan Thorp</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Amassing the wealth needed to support retirement by regular saving is a monumental test of personal planning and discipline. Fortunately for most Australian workers, the superannuation system can help. Superannuation uses the carrot of tax incentives, and the sticks of compulsion and limited access, to make us save for retirement. There are benefits to paying timely attention to your super early in your working life to get the most from this publicly mandated form of financial self-discipline. I’ve been researching and thinking about superannuation for most of my career. Here’s what I wish I knew at the beginning of my working life. <h2>1. Check you’re actually getting paid super</h2> First, make sure you are getting your dues. If you are working, your employer must contribute <a href="https://www.ato.gov.au/businesses-and-organisations/super-for-employers/paying-super-contributions/how-much-super-to-pay">11% of your earnings</a> into your superannuation account. By July 2025 the rate will increase to 12%. This mandatory payment (the “<a href="https://www.ato.gov.au/tax-rates-and-codes/key-superannuation-rates-and-thresholds/super-guarantee">superannuation guarantee</a>”) may look like yet another tax but it is an important part of your earnings (would you take an 11% pay cut?). It is worth checking on, and worth <a href="https://www.ato.gov.au/calculators-and-tools/super-report-unpaid-super-contributions-from-my-employer">reporting</a> if it is not being paid. The Australian Tax Office <a href="https://oia.pmc.gov.au/sites/default/files/posts/2023/05/Impact%20Analysis%20-%20Unpaid%20Superannuation%20Guarantee%20package.pdf">estimates</a> there is a gap between the superannuation employers should pay and what they do pay of around 5% (or $A3.3 billion) every year. Failing to pay is <a href="https://oia.pmc.gov.au/sites/default/files/posts/2023/05/Impact%20Analysis%20-%20Unpaid%20Superannuation%20Guarantee%20package.pdf">more common</a> among the accommodation, food service and construction industries, as well as small businesses. Don’t take your payslip at face value; cross-check your super account balance and the annual statement from your fund. <h2>2. Have just one super account</h2> Don’t make personal donations to the finance sector by having more than one superannuation account. Two super accounts mean you are donating unnecessary administration fees, possibly redundant insurance premiums and suffering two times the confusion to manage your accounts. The superannuation sector does not need your charity. If you have more than one super account, please consolidate them into just one today. You can do that <a href="https://moneysmart.gov.au/how-super-works/consolidating-super-funds">relatively easily</a>. <h2>3. Be patient, and appreciate the power of compound interest</h2> If you’re young now, retirement may feel a very distant problem not worth worrying about until later. But in a few decades you’re probably going to appreciate the way superannuation works. As a person closing in on retirement, I admit I had no idea in my 20s how much my future, and the futures of those close to me, would depend on my superannuation savings. Now I get it! <a href="https://www.nber.org/papers/w27459">Research</a> <a href="https://economics.mit.edu/sites/default/files/publications/pandp.20221022.pdf">shows</a> the strict rules preventing us from withdrawing superannuation earlier are definitely costly to some people in preventing them from spending on things they really need. For many, however, it stops them spending on things that, in retrospect, they would rate as less important. But each dollar we contribute in our 30s is worth around three times the dollars we contribute in our 50s. This is because of the advantages of time and <a href="https://moneysmart.gov.au/saving/compound-interest">compound interest</a> (which is where you earn interest not just on the money initially invested, but on the interest as well; it’s where you earn “interest on your interest”). For some, adding extra “voluntary” savings can build up retirement savings as a buffer against the periods of unemployment, disability or carer’s leave that most of us experience at some stage. <h2>4. Count your blessings</h2> If you are building superannuation savings, try to remember you’re among the lucky ones. The benefits of super aren’t available to those who can’t work much (or at all). They face a more precarious reliance on public safety nets, like the Age Pension. So aim to maintain your earning capacity, and pay particular attention to staying employable if you take breaks from work. What’s more, superannuation savings are invested by (usually) skilled professionals at rates of return hard for individual investors to achieve outside the system. Many larger superannuation funds offer members types of investments – such as infrastructure projects and commodities – that retail investors can’t access. The Australian Prudential Regulation Authority (APRA) also <a href="https://www.apra.gov.au/industries/superannuation">checks</a> on large funds’ investment strategies and performance. <h2>5. Tough decisions lie ahead</h2> The really hard work is ahead of you. The saving or “accumulation” phase of superannuation is mainly automatic for most workers. Even a series of non-decisions (defaults) will usually achieve a satisfactory outcome. A little intelligent activity will do even better. However, at retirement we face the challenge of making that accumulated wealth cover our needs and wants over an uncertain number of remaining years. We also face variable returns on investments, a likely need for aged care and, in many cases, declining cognitive capacity. It’s helpful to frame your early thinking about superannuation as a means to support these critical decades of consumption in later life. At any age, when we review our financial management and think about what we wish we had known in the past, we should be realistic. Careful and conscientious people still make mistakes, procrastinate and suffer from bad luck. So if your super isn’t where you had hoped it would be by now, don’t beat yourself up about 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/217922/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/susan-thorp-214">Susan Thorp</a>, Professor of Finance, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a> Image credits: Getty Images 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/after-a-lifetime-studying-superannuation-here-are-5-things-i-wish-i-knew-earlier-217922">original article</a>.

Retirement Income

Real estate agency slammed for "greedy" rental increase

Real estate agency Nelson Alexander has come under fire after increasing the weekly rent to one of their vacant properties on the day of the viewing. The property, located in the inner suburbs of Melbourne, had a scheduled viewing on Thursday and many hopeful tenants were keen to check it out. Unfortunately, their interest came at a cost, as the agency sent out a text just hours beforehand saying that they were increasing the weekly rent from $600 to $650 due to "overwhelming" demand. Journalist Jacqueline Felgate shared the text on social media, and many branded the agency's move as "greedy" and "disgraceful" and even accused them of perpetuating the rental crisis. The exact location of the property and the number of bedrooms it has is unknown, and after receiving all the backlash, the ad has since been pulled. The real estate agency also apologised and said that they "do not solicit or encourage any form of rental bidding". "Whilst the current issue at hand is not a breach of legislation, it fell short of our commitment to fair and transparent practices," the statement read. "We are deeply aware of the moral and social responsibility we have to our community during these challenging times." They also added that they are currently reviewing their processes to "ensure this doesn't ever happen again". It is unclear whether the property has been put back on the market and for what price. <em style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; color: #323338; font-family: Figtree, Roboto, 'Noto Sans Hebrew', 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; background-color: #ffffff; outline: none !important;">Images: Instagram

Money & Banking

It’s not just about accumulating super. Australians need to learn how to spend their retirement savings

<a href="https://theconversation.com/profiles/marc-olynyk-1493791">Marc Olynyk</a>, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Australia’s superannuation and retirement income system is complex and difficult to navigate. Retirees need to make decisions on numerous issues where they have less than full information and understanding, both financial and non-financial. They also require access to retirement products to help them manage and balance income needs against longevity risk. Recognising these issues, the government released a <a href="https://treasury.gov.au/consultation/c2023-441613">discussion paper</a> this month seeking views on three key issues: <ol> <li> helping super fund members navigate the retirement income system </li> <li> supporting superannuation funds to deliver better services </li> <li> making retirement income products more accessible. </li> </ol> Australia has one of the largest and most sophisticated pension systems in the world. Valued at more than <a href="https://www.apra.gov.au/quarterly-superannuation-statistics">A$3.5 trillion</a> as at September 2023, and is the <a href="https://www.thinkingaheadinstitute.org/research-papers/global-pension-assets-study-2023/">5th largest pension scheme</a> in terms of asset size. It is also the <a href="https://www.mercer.com/insights/investments/market-outlook-and-trends/mercer-cfa-global-pension-index/">5th most highly rated retirement income system</a> internationally behind the Netherlands, Iceland, Denmark and Israel. <h2>What is wrong with the super system?</h2> But while the super system ranks highly in terms of integrity and sustainability, the numbers are not as flattering when it comes to “adequacy”. Adequacy is the level of income available to retirees depending on their different circumstances. According to a recent <a href="https://www.mercer.com/insights/investments/market-outlook-and-trends/mercer-cfa-global-pension-index/">study</a>, Australia is ranked 20th out of 47 worldwide on the adequacy index. <a href="https://www.investmentmagazine.com.au/2023/02/purpose-of-super-law-to-herald-tax-reform/">Reform</a> in the pre-retirement phase of Australia’s retirement income scheme is ongoing and designed to support accumulating wealth for retirement. These ongoing reforms have been designed to make superannuation easier to understand and to reduce much of the decision making required. They’ve been needed because of an apparent lack of skills, interest and financial literacy among Australians. While the message that we need to save to be comfortable in retirement is getting through, the lack of information about how to manage these savings once we retire means many retirees are left to navigate the complex system as best they can. Given the complexity and volatility of Australia’s financial system, it’s hardly surprising many of the decisions made by retirees don’t produce the best financial results. For example, more than <a href="https://treasury.gov.au/consultation/c2023-441613">84%</a> of retirement savings are held in account-based pensions which, if not properly managed, can run out. This is despite government and community awareness that outliving your savings is a real possibility. About 50% of retirees currently withdraw at the minimum pension rate, which means many people experience a lower standard of living than what would normally be expected with the super they have accumulated. This can result in wealth not being used and instead being passed on to the next generation. <h2>Help is needed now because the retiree sector is booming</h2> Over the next decade there is going to be a big increase in the number of people retiring and transitioning from the accumulation phase of their super to the pension phase. It’s estimated <a href="https://treasury.gov.au/consultation/c2023-441613">2.5 million</a> Australians will move to the retirement phase in this period. Following the 2014 <a href="https://treasury.gov.au/publication/c2014-fsi-final-report">Financial System Inquiry</a>, the government introduced the <a href="http://www5.austlii.edu.au/au/legis/cth/consol_act/sia1993473/s52.html">Retirement Income Covenant</a> in 2022 to force super fund trustees to develop a strategy that would provide better retirement outcomes for their members. The strategy is based on retirees maximising their expected retirement income, managing expected risks to their retirement income and having flexible access to super funds during their retirement. A 2022-23 review conducted by <a href="https://asic.gov.au/regulatory-resources/find-a-document/reports/rep-766-implementation-of-the-retirement-income-covenant-findings-from-the-apra-and-asic-thematic-review/">Australian Prudential Regulation Authority and the Australian Securities and Investments Commission</a> found while trustees were providing more help to retirees, overall there was a lack of progress and urgency among trustees to improve retirement outcomes. <h2>How the system could be improved</h2> Several proposals have been put forward to improve the experiences and decision-making of retirees. These have included: <ul> <li> improved support from and education by superannuation fund trustees </li> <li> changing how people view their super savings from an accumulation of wealth to a system that enables drawdown of retirement savings over time to fund expenses. </li> <li> providing an automatic rollover of retirement savings into an income-stream instead of allowing a lump sum withdrawal on retirement </li> <li> expanding existing income products (that are starting to be offered by several financial institutions) which combine providing investment choice with a pension for life </li> <li> setting up a MyRetire product that would run parallel to <a href="https://treasury.gov.au/programs-and-initiatives-superannuation/mysuper">MySuper</a> and provide a simple and cost-effective retirement income system for less engaged members. MySuper only applies to the accumulation phase. Once a member starts an income stream in retirement, their MySuper account ceases </li> <li> improving access to financial planning advice which is shown to play a significant role in preparing Australians for retirement. </li> </ul> The government, superannuation industry and the community all have a greater role to play in improving the financial outcomes and experiences of retirees. With Australia’s ageing population, the need to better support retirees to achieve a dignified retirement is becoming more urgent. All Australians expect and deserve a financially secure retirement.<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/219217/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/marc-olynyk-1493791">Marc Olynyk</a>, Director of Financial Planning, Deakin Business School, <a href="https://theconversation.com/institutions/deakin-university-757">Deakin University</a> Image credits: Getty Images 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/its-not-just-about-accumulating-super-australians-need-to-learn-how-to-spend-their-retirement-savings-219217">original article</a>.

Retirement Income

"You are the problem": Landlord slammed over rent increase just before Christmas

An Australian landlord has been slammed online for deciding to raise the rent on one of her struggling tenants before Christmas. The landlord from WA took to social media to try to defend her decision to slap her tenant, who is a single mother, with a $100 rental increase at the start of the festive season. The woman, who owns four rental properties, explained that the increase comes from the growing market value in the suburb the tenant lives. "I decided to increase the rent by $100 a week for my tenant, who is a single mum with two kids, on the basis a reasonable rental increase would have been an extra $140 a week," she began in the video shared to her X account. "I recognise that she probably couldn't afford that. So I came to the conclusion that $100 would be a very good deal considering the suburb and it would be one of the cheaper rentals on the market." The tenant said that she is unable to afford the steep increase, especially in the weeks before Christmas, and would have to decide between affording her rent and feeding her young children. "So now I'm in a position. Do I subsidise the tenant's rent and cop it out of my own pocket... or do I tell this tenant she can't afford this particular suburb and she should look for somewhere more reasonable," the landlord said. "It's a really tough decision and one that I am not taking on lightly and just further evidence that this housing crisis is really impacting people financially." In the end, she decided to increase the tenant's rent. "I increased the tenant's rent by $100 per week after I did further research. The rent is still $30-$40 per under market value. Now I'm learning you can't mix emotions with business," she said. The landlord has been rinsed online, with many people calling out her callous actions in the festive season, dubbing her as "greedy" and contributing to nation's housing problem. "Jesus, I cannot imagine increasing a rent by $100 a week- that would ruin anyone, let alone a single mum. What are you thinking of? Have some ethics," one person said. "You and the real estate industry are the problem! Hiking the rent based on your real estate greed. If you recognise the social issues why do you add to the problem?" another person added. A third person chimed, "Is this satire? Surely you aren't this much of an awful human being." "I fully understand it's your property - however to increase rent just before Christmas is a little heartless and $100 a week increase is tall during a cost of living crisis," a fourth person said. Others jumped to defend the landlord, claiming owning rental property is a business and not a charity. One person commented, "Take the emotion out of it! It's an investment property not a charity! As harsh as that sounds it's the cost of being successful. But, perhaps leave it until after Christmas though as a goodwill gesture." Image credits: X / Instagram

Money & Banking

Carer allowance and disability pension set to increase

Over 936,000 Aussies are set to see a cash boost in the new year, as indexation to government payments takes effect from January. Australians receiving youth, student or carer support will receive a 6 per cent boost to their payments, as additional support to help them navigate the rising cost of living. “Australia’s social security system is a safety net that is continually strengthened and improved to support all vulnerable Australians,” Minister for Social Services Amanda Rishworth said. “Through regular indexation, our payments are adjusted in line with changes in the cost of living to retain their purchasing power.” For over 600,000 carers, the Carer Allowance is set to increase to $153.50 a fortnight, while the Disability Support Pension for Australians under 21 will increase by $31.10 to $44.90 a fortnight. Youth Allowance payments are also set to increase between $22.40 and $45.60 a fortnight, while Austudy payments will increase by between $36.20 and $45.60. The new year increases are being set into motion after a $40 a fortnight increase to youth and student payment rates, which was effective from September 20. A complete list of the new payment increases can be found on the <a href="https://www.dss.gov.au/about-the-department/benefits-payments/previous-indexation-rates" target="_blank" rel="noopener">Department of Social Services website</a>. Image: Getty

Money & Banking

Downsizing cost trap awaits retirees – five reasons to be wary

<a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> It’s time to debunk the myth of zero housing costs in retirement if we want to understand why retirees resist downsizing. Retirees have at least five reasons to be wary of the costs of downsizing. Retirees living in middle-ring suburbs face frequent calls to downsize into apartments to free up larger allotments in these suburbs for redevelopment. Retirees who fail to downsize into smaller units and apartments are viewed as being a greedy, baby-boomer elite, stealing financial security from younger generations. It also makes sense to policymakers for retirees to move into less spacious accommodation and make way for high-density housing. Housing think-tank AHURI <a href="http://www.ahuri.edu.au/__data/assets/pdf_file/0021/14079/AHURI_Final_Report_No_286_Australian-demographic-trends-and-implications-for-housing-assistance-programs.pdf">fosters this view</a>. Yet seniors remain resistant to moving, in part because of the ongoing costs they would face. The concept of zero housing costs in retirement is based on a 1940s view of a well-maintained, single dwelling on a single allotment of land where the mortgage has been paid off. This concept is incompatible with medium- and high-density housing and refusing to acknowledge ongoing housing costs may cause significant poverty for retirees. <h2>Reason 1 – upfront moving costs are high</h2> When a house is sold the owner receives the sale funds minus the real estate and legal fees. When the same person then buys a different property to live in, they pay legal fees plus stamp duty. For cities such as Melbourne and Sydney, these costs are likely to exceed A$70,000. These high transfer costs may mean it is not cost-effective <a href="https://theconversation.com/why-older-australians-dont-downsize-and-the-limits-to-what-the-government-can-do-about-it-76931">for the person to move</a>. <h2>Reason 2 – levies are high</h2> Because apartment owners pay body corporate levies, people often assume this is just the same as periodic payment of rates, water, insurance and other costs. It is not. Fees remissions for low-income retirees for rates, power, insurance and water are difficult to apply within a body corporate environment. As a consequence, these are usually not applied to owners of apartments. The costs of maintaining essential services, such as mandatory fire-alarm testing, yearly engineering certification, lift and air-conditioning inspections, significantly increase ownership costs. When additional services are supplied, such as swimming pools, gyms and rooftop gardens, these also require periodic inspections. Garbage collection, cleaning, gardening, concierge and strata management services also <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23322">must be paid</a>. Owners of standard suburban homes choose whether they want these services, with those on fixed incomes going without them. Annual levies for apartment buildings vary, but expect to pay between $10,000 and $15,000. They <a href="https://www.strata.community/understandingstrata/faqs">may be more than this</a>. <h2>Reason 3 – costs of maintenance</h2> <figure class="align-right "><figcaption></figcaption></figure> Apartments are often sold as a maintenance-free solution for older people. The maintenance is not free. It needs to be paid for. Maintenance costs are higher in an apartment than a standard suburban home because there are more items and services to be maintained and fixed. Lifts and air conditioning need periodic servicing and fixing. This is in addition to the mandatory inspections listed above. <h2>Reason 4 – loss of financial security</h2> It is a mistaken belief that the maintenance costs that form part of the body corporate fee include periodic property upgrades. This relates to items that are owned collectively with other apartment owners. Major servicing at the ten-year mark and usually each five-to-seven years after that include painting, floor-covering replacement, and lift and air-conditioning repair or replacement. Major upgrades may also include garden redesign or other external building enhancement including <a href="https://eprints.utas.edu.au/cgi/users/home?screen=EPrint%3A%3AView&eprintid=23315">environmental upgrades</a>. All owners share these upgrade costs. Costs of upgrading the inside of an apartment (a bathroom disability upgrade, for example) are additional again. Once the body corporate committee members pledge funds towards an upgrade, all owners are required to raise their share of the funds, whether they can afford it or not. Communal choice outweighs an individual owner’s need to delay upgrade costs. Owners who buy apartments that are part of a body corporate effectively lose control of their future financial decisions. <h2>Reason 5 – loss of security of tenure</h2> Loss of security of tenure is usually associated with renters. However, the recent introduction of <a href="http://www.lpi.nsw.gov.au/__data/assets/pdf_file/0009/25965/Termination_of_a_strata_scheme_by_RG.pdf">termination legislation</a> in New South Wales gives other owners the right to vote to terminate a strata title scheme. When this occurs, all owners, including reluctant owners of apartments within that scheme, are compelled to sell. There are valid reasons why termination legislation is desirable, as many older apartment complexes are reaching the end of their useful life. Even so, as termination legislation is rolled out across the states, owner- occupiers effectively lose control of how long they will own a property for. They no longer have security of tenure, which means retirees may face an uncertain housing future in their old age. <h2>Downsizing raises poverty risks</h2> Because current data sets do not adequately take account of ongoing costs associated with apartment living, the effect of downsizing on individual households is masked. Downsizing retirees into the apartment sector creates ongoing financial stress for older people. Creating <a href="https://theconversation.com/it-will-take-more-than-piecemeal-reforms-to-convince-older-australians-to-downsize-51043">tax incentives to move</a> does not tackle these ongoing costs. Centrelink payments for of <a href="https://www.humanservices.gov.au/customer/services/centrelink/age-pension">$404 per week</a> are well below <a href="http://acoss.wpengine.com/poverty-2/">the poverty line</a>. Yet we expect retirees to willingly downsize and to be able to cede most of their Centrelink payments to cover high body corporate costs. Requiring retirees to downsize for the greater urban good will shift poverty onto retirees who could barely manage in their previously owned standard suburban home. Failing to understand the effect of high ongoing costs associated with apartment living and reinforcing the myth of zero housing costs in retirement will continue to lead to poor policy outcomes.<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/80895/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/erika-altmann-361218">Erika Altmann</a>, Property and Housing Management Researcher, <a href="https://theconversation.com/institutions/university-of-tasmania-888">University of Tasmania</a> Image credits: Getty Images 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/downsizing-cost-trap-awaits-retirees-five-reasons-to-be-wary-80895">original article</a>.

Retirement Income

Women and low-income earners miss out in a superannuation system most Australians think is unfair

<a href="https://theconversation.com/profiles/antonia-settle-1019551">Antonia Settle</a>, <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Most Australians think the superannuation system is unfair, with only one in three agreeing the retirement savings scheme is fair for most Australians, according to a survey conducted for the University of Melbourne. In fact, only about half of those <a href="https://melbourneinstitute.unimelb.edu.au/publications/research-insights/search/result?paper=4630688">surveyed</a> agreed superannuation works well for them. These results contradict a conventional view based on earlier studies and held by academics and many in the personal finance sector, that Australians give little thought to superannuation. A 2013 survey found Australians have <a href="https://search.informit.org/doi/abs/10.3316/INFORMIT.285049750322819">poor knowledge</a> of how the superannuation system works, while another study in 2022 highlighted <a href="https://melbourneinstitute.unimelb.edu.au/__data/assets/pdf_file/0011/4382057/HILDA_Statistical_Report_2022.pdf">low financial literacy</a> in general. Australians also showed <a href="https://behaviouraleconomics.pmc.gov.au/sites/default/files/projects/retirement-planning-saving-attitudes_0_0.pdf">little interest in superannuation</a>, according to a 2020 Department of Prime Minister and Cabinet survey, with few Australians showing interest in reading their superannuation statements, choosing their fund or making voluntary contributions. With Australian households seen as uninformed and uninterested, their opinions tend to be left out of the public debate. We hear much about the gender pension gap, for example, but little about what women actually think about superannuation. Similarly, the distribution of tax advantage in superannuation is hotly debated by economists but survey data tends to refrain from asking households what they think about equity in the superannuation system. The University of Melbourne survey of 1,003 Australians was undertaken by Roy Morgan Research in April. Its results show women and low-income households are widely seen as disadvantaged in the superannuation system. In fact, only one in five Australians see the superannuation system as well suited to the needs of women and of low-income households, while 70% believe super favours wealthy households. <iframe id="5VX3K" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/5VX3K/1/" width="100%" height="400px" frameborder="0"></iframe> This suggests although Australians may show little interest in the management of their super accounts and may report they find the system confusing or even <a href="https://www.professionalplanner.com.au/wp-content/uploads/2016/05/Attitudes-to-Super-Report-May-2016.pdf">boring</a>, they are surprisingly aware of how superannuation is distributed. <h2>Women, singles and low-income earners miss out</h2> The federal government’s 2020 <a href="https://treasury.gov.au/publication/p2020-100554">Retirement Income Review</a> documents these gaps. Renters, women, uncoupled households and those on low-incomes fare poorly in the retirement income system. With little super to supplement the public pension, these groups are vastly over-represented in elderly poverty statistics, which are among the <a href="https://www.oecd-ilibrary.org/sites/d76e4fad-en/index.html?itemId=/content/component/d76e4fad-en">highest in the OECD</a>. Mirroring the gaps in the superannuation system reported by the review, the University of Melbourne survey shows that it is outright homeowners and those who are married who believe the superannuation system works well. Concerns the system works poorly for women and low-income households are strongest among women and low-income households. Only one in three renters believe the superannuation system meets their needs. <iframe id="N9GO6" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/N9GO6/1/" width="100%" height="400px" frameborder="0"></iframe> This suggests individuals’ concerns about fairness in the superannuation system are driven by their own experiences of disadvantage, regardless of financial literacy. This is consistent with my own <a href="https://www.tandfonline.com/doi/full/10.1080/13563467.2023.2195159">research</a> into household attitudes to superannuation, which showed some resentment among women who were well aware their male partners had substantially higher superannuation balances than them. This all matters for policymakers. <h2>Why public perceptions are important</h2> In the short term, these results suggest public support for making super fairer is likely to be stronger than previously thought. Recent government changes to tax concessions on large balances, for example, could have gone much further without losing support from the 70% of households that think the system favours the wealthy. But it matters for the longer term too. Public perceptions of fairness, effectiveness and efficiency are crucial to policy sustainability. This is well established in the academic literature from <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/spol.12683">B Ebbinghaus</a>, 2021 and <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/1911-3838.12171">H Chung et al.</a>, and accepted by the Retirement Income Review. The review assessed the public’s confidence in the system to both “deliver an adequate retirement income for them(selves) and (to) generate adequate outcomes across society”. As the review makes clear, the system must avoid a loss of public confidence from perceptions of unfairness. Yet perceptions of unfairness are exactly what the University of Melbourne results suggest. This would have been clearer to policymakers if they asked earlier.<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/207633/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/antonia-settle-1019551">Antonia Settle</a>, Academic (McKenzie Postdoctoral Research Fellow), <a href="https://theconversation.com/institutions/the-university-of-melbourne-722">The University of Melbourne</a> Image credits: Getty Images 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/women-and-low-income-earners-miss-out-in-a-superannuation-system-most-australians-think-is-unfair-207633">original article</a>.

Retirement Income

Do stress and depression increase the risk of Alzheimer’s disease? Here’s why there might be a link

<a href="https://theconversation.com/profiles/yen-ying-lim-355185">Yen Ying Lim</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> and <a href="https://theconversation.com/profiles/ivana-chan-1477100">Ivana Chan</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Dementia affects more than <a href="https://www.who.int/news-room/fact-sheets/detail/dementia">55 million people</a> around the world. A number of factors can increase a person’s risk of developing dementia, <a href="https://link.springer.com/article/10.14283/jpad.2023.119">including</a> high blood pressure, poor sleep, and physical inactivity. Meanwhile, keeping cognitively, physically, and socially active, and limiting alcohol consumption, can <a href="https://www.thelancet.com/article/S0140-6736(20)30367-6/fulltext">reduce the risk</a>. Recently, a <a href="https://alzres.biomedcentral.com/articles/10.1186/s13195-023-01308-4">large Swedish study</a> observed that chronic stress and depression were linked to a higher risk of developing <a href="https://alz-journals.onlinelibrary.wiley.com/doi/10.1002/alz.12638">Alzheimer’s disease</a>, the most common form of dementia. The researchers found people with a history of both chronic stress and depression had an even greater risk of the disease. Globally, around <a href="https://www.who.int/news-room/fact-sheets/detail/depression">280 million people</a> have depression, while roughly <a href="https://www.who.int/news-room/fact-sheets/detail/anxiety-disorders">300 million people</a> experience anxiety. With so many people facing mental health challenges at some stage in their lives, what can we make of this apparent link? <h2>What the study did and found</h2> This study examined the health-care records of more than 1.3 million people in Sweden aged between 18 and 65. Researchers looked at people diagnosed with chronic stress (technically chronic stress-induced exhaustion disorder), depression, or both, between 2012 and 2013. They compared them with people not diagnosed with chronic stress or depression in the same period. Participants were then followed between 2014 and 2022 to determine whether they received a diagnosis of mild cognitive impairment or dementia, in particular Alzheimer’s disease. <a href="https://alz-journals.onlinelibrary.wiley.com/doi/10.1016/j.jalz.2016.07.151">Mild cognitive impairment</a> is often seen as the precursor to dementia, although not everyone who has mild cognitive impairment will progress to dementia. During the study period, people with a history of either chronic stress or depression were around twice as likely to be diagnosed with mild cognitive impairment or Alzheimer’s disease. Notably, people with both chronic stress and depression were up to four times more likely to be diagnosed with mild cognitive impairment or Alzheimer’s disease. <h2>Important considerations</h2> In interpreting the results of this study, there are some key things to consider. First, the diagnosis of <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9438479/">chronic stress-induced exhaustion disorder</a> is unique to the Swedish medical system. It is characterised by at least six months of intensive stress without adequate recovery. Symptoms include exhaustion, sleep disturbance and concentration difficulties, with a considerable reduction in ability to function. Mild stress may not have the same effect on dementia risk. Second, the number of people diagnosed with dementia in this study (the absolute risk) was very low. Of the 1.3 million people studied, 4,346 were diagnosed with chronic stress, 40,101 with depression, and 1,898 with both. Of these, the number who went on to develop Alzheimer’s disease was 14 (0.32%), 148 (0.37%) and 9 (0.47%) respectively. These small numbers may be due to a relatively young age profile. When the study began in 2012–2013, the average age of participants was around 40. This means the average age in 2022 was around 50. Dementia is typically diagnosed in <a href="https://www.health.gov.au/topics/dementia/about-dementia">people aged over 65</a> and diagnosis <a href="https://karger.com/dem/article-abstract/34/5-6/292/99009/Overdiagnosis-of-Dementia-in-Young-Patients-A?redirectedFrom=fulltext">in younger ages</a> may be less reliable. Finally, it’s possible that in some cases stress and depressive symptoms may reflect an awareness of an already declining memory ability, rather than these symptoms constituting a risk factor in themselves. This last consideration speaks to a broader point: the study is observational. This means it can’t tell us one thing caused the other – only that there is an association. <h2>What does other evidence say?</h2> <a href="https://link.springer.com/article/10.14283/jpad.2023.119">Many studies</a> indicate that significant symptoms of depression, anxiety and stress are related to higher dementia risk. However, the nature of this relationship is unclear. For example, are depressive and anxiety symptoms a risk factor for dementia, or are they consequences of a declining cognition? It’s likely to be a bit of both. High <a href="https://pubmed.ncbi.nlm.nih.gov/32082139/">depressive and anxiety symptoms</a> are commonly reported in people with mild cognitive impairment. However, studies in middle-aged or younger adults suggest they’re important dementia risk factors too. For example, similar to the Swedish study, other <a href="https://www.sciencedirect.com/science/article/pii/S0165032719323031">studies</a> have suggested people with a history of depression are twice as likely to develop dementia than those without this history. In addition, in middle-aged adults, high anxiety symptoms are associated with <a href="https://pubmed.ncbi.nlm.nih.gov/34648818/">poorer cognitive function</a> and <a href="https://bmjopen.bmj.com/content/8/4/e019399">greater dementia risk</a> in later life. <h2>Why the link?</h2> There are several potential pathways through which stress, anxiety and depression could increase the risk of dementia. Animal studies suggest cortisol (a hormone produced when we’re stressed) can increase risk of Alzheimer’s disease by causing the accumulation of key proteins, <a href="https://pubmed.ncbi.nlm.nih.gov/34159699/">amyloid and tau</a>, in the brain. The accumulation of these proteins can result in increased <a href="https://www.mdpi.com/1422-0067/23/18/10572">brain inflammation</a>, which affects the brain’s nerves and supporting cells, and can ultimately lead to brain volume loss and memory decline. Another potential pathway is through <a href="https://www.sciencedirect.com/science/article/pii/S1087079217300114?via%3Dihub">impaired sleep</a>. Sleep disturbances are common in people with chronic stress and depression. Similarly, people with Alzheimer’s disease commonly report sleep disturbances. Even in people with <a href="https://pubmed.ncbi.nlm.nih.gov/34668959/">early Alzheimer’s disease</a>, disturbed sleep is related to poorer memory performance. Animal studies suggest poor sleep can also enhance accumulation of <a href="https://pubmed.ncbi.nlm.nih.gov/31408876/">amyloid and tau</a>. We still have a lot to learn about why this link might exist. But evidence-based strategies which target chronic stress, anxiety and depression may also play a role in reducing the risk of dementia.<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/215065/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/yen-ying-lim-355185">Yen Ying Lim</a>, Associate Professor, Turner Institute for Brain and Mental Health, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> and <a href="https://theconversation.com/profiles/ivana-chan-1477100">Ivana Chan</a>, PhD candidate, clinical psychology, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Image credits: Getty Images 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/do-stress-and-depression-increase-the-risk-of-alzheimers-disease-heres-why-there-might-be-a-link-215065">original article</a>.

Mind

Santas needed! Surprising Christmas shortage spells job openings for Aussie grandads

A nationwide Santa shortage has many shopping centres hoping for a Christmas miracle, before festive families line up in droves for a snap with Father Christmas. According to talent agency <a href="https://scenetobelieve.com.au/santa-jobs/" target="_blank" rel="noopener">Scene to Believe</a>, who are responsible for hiring Santas in over 180 around Australia, there are not have enough applicants for Santa roles this December. The agency's head Christmas recruiter, Viviana Diaz, told <a href="https://www.news.com.au/finance/work/careers/santa-jobs-go-unfilled-despite-fall-in-aussie-job-ads/news-story/de7f3c5b6d95c6f78f9718d1bb60a099" target="_blank" rel="noopener">news.com.au</a> that the seasonal shortfall was nationwide, but the situation was more pronounced in Sydney. The company said issue has been growing over the last three years, with the problem believed to have stemmed from the Covid pandemic. Ms Diaz said that contrary to popular belief, Santas can come in all shapes, sizes and ages, and that women are also eligible to apply. “Sometimes they think they have to look like Santa,” Ms Diaz said. “But we provide a full Santa suit and they don’t have to have a real beard.” Previous experience is also not required, as Scene to Believe runs a dedicated Santa School where new incoming Santas can learn tips from experienced Santas. The company states that Santas “need to be jolly, have a great HOHOHO and enjoy working with children”, while a genuine love of the festive season, patience and compassion, and good communication skills. A current Working with Children Check and Police Check, or willingness to get these, are also important. Ms Diaz added, “Being a shopping centre Santa is a perfect job for Aussies looking to help their hip pocket come Christmas time, with flexible working arrangements and casual rates.” Experienced Santa Tony Hooper said it’s “perfect for older Australians wanting to dip their toe back into the workforce”. “Being a Santa is by far the best work I’ve ever done. It’s flexible, I work when I want and I spend my days talking to young families and getting in the festive spirit.” “It’s also a great way to earn extra cash right before Christmas, which is when I need it most. And the best part is, I can still receive my pension!” Ms Diaz said failing to fill its Santa positions was not an option, and they would do everything in their power to have a flock of Santas ready to spread Christmas cheer on December 1st. “We have to find a lot of people because Santa has to be there. We will perform a Christmas miracle!” <div> </div> Image credits: Getty Images

Retirement Income

7 hacks for retirees to make your money last longer

As Australians continue to live longer, the squeeze is on to make each dollar last longer – and never moreso than in retirement. <a href="https://www.aihw.gov.au/reports/life-expectancy-deaths/deaths-in-australia/contents/life-expectancy">Life expectancies in Australia</a> are now 85.4 years for women and 81.3 years for men. Meanwhile, the <a href="https://www.abs.gov.au/statistics/labour/employment-and-unemployment/retirement-and-retirement-intentions-australia/latest-release">average age at retirement</a> for all retirees is 56.3 years. That’s up to 29.1 years of retirement to be paid for without a salaried income. Thankfully, making money last longer is just possible, with the help of a few tips and tricks. <ol> <li>Embrace seniors’ discounts</li> </ol> It was once said that “it’s better to pay full price than to admit you’re a senior citizen”. Really? Who wouldn’t prefer the extra cash! Being “senior” opens the door to numerous discounts and freebies. If you haven’t already, apply for your eligible concession cards, including the <a href="https://www.servicesaustralia.gov.au/commonwealth-seniors-health-card">Commonwealth Seniors Health Card</a> (for discounted healthcare and prescriptions) and state or territory seniors card (for discounted/free vehicle registration, public transport and other services). Additionally, many businesses offer seniors discounts – insurers, retailers, attractions and more. But they may not advertise these discounts widely, so it pays to ask. <ol start="2"> <li>Maintain a plan</li> </ol> Having a plan and keeping it up to date ensures you don’t overdraw from super, losing the income-generating power of those funds and running out prematurely. I prefer a ‘savings and investment plan’, which sounds nicer and is more comprehensive than a ‘budget’. Incorporate your goals, expenses, assets, and incomes – visibility keeps you disciplined and allows you to act quickly if something is amiss. <ol start="3"> <li>Spend points</li> </ol> Many retirees have held their current credit card, store cards and frequent flyer account for years – decades even. How many points are sitting there unused? These points generally aren’t transferable, so can’t be gifted in your will. It’s use them or lose them! Points can pay for everything from groceries to homewares, travel and even your Christmas shopping – conserving your cash and super. <ol start="4"> <li>Get comfortable</li> </ol> Rightsizing your home sooner rather than later has numerous benefits, such as: <ul> <li><a href="https://www.ato.gov.au/Individuals/Super/Growing-and-keeping-track-of-your-super/How-to-save-more-in-your-super/Downsizer-super-contributions/">downsizer super contributions tax breaks</a> to boost superannuation earnings.</li> <li>paying less for your new home, since property prices generally track upwards whilst investing the extra equity.</li> <li>avoiding complications of moving later in life when your health or mobility may not be as good.</li> <li>avoiding a mistake - using the time to find exactly what you want, where you want, rather than being under pressure and having to spend stamp duty again</li> </ul> Home ownership is also a major determinant of how comfortable your retirement will be. And given the current state of Australia’s rental market, selling your home to move into rented accommodation could prove costly. <ol start="5"> <li>Retain protections</li> </ol> Protections are typically a cost – insurance premiums, legal fees, memberships etc. However, the cost of not having them in place can be far higher. Plus, in the case of insurances, prices and restrictions increase with age – meaning you pay more but get less value for that spend, compared with the more favourable terms of a long-held policy. By all means adjust your protections to suit your current and future needs. But think twice before trying to save a few dollars by discarding insurances or cancelling sports and social memberships that keep you active. <ol start="6"> <li>Update estate planning</li> </ol> Considerable costs (and heartache) inevitably hit a grieving partner and family where someone dies without having their affairs properly in order: <ul> <li>funeral costs and medical bills pile up if funds haven’t been allocated for them.</li> <li>delayed payouts from insurances and super if those details aren’t readily available. </li> <li>loss of economies of scale (living costs per person are cheaper for couples than singles). </li> <li>unexpected taxes, debts, and liabilities.</li> <li>legal conflicts arise where wills are unclear or outdated.</li> <li>a person’s wishes may go overlooked or be challenged where guardianships and power of attorney were not devised.</li> </ul> In extreme cases, the surviving spouse may be forced to sell their home to pay associated costs or because they can’t afford to maintain it alone. <ol start="7"> <li>Seek good advice</li> </ol> Just like a good doctor helps you stay physically and mentally healthy, a good financial adviser helps your finances stay healthy, tactically smart and use strategies to reduce tax which stretches your money further. Be sure their accreditation is up-to-date, and they have experience working with retirees (not just those planning for it during their working years). Often, the cost of this advice pales in comparison to the tax saved and additional income earned through benefits, structures and plans you never even knew about. What’s not to love about that! Helen Baker is a licensed Australian financial adviser and author of the new book, On Your Own Two Feet: The Essential Guide to Financial Independence for all Women (Ventura Press, $32.99). Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. Find out more at <a href="http://www.onyourowntwofeet.com.au">www.onyourowntwofeet.com.au</a> Image credits: Getty Images

Retirement Income

7 simple wealth creation ideas for over 60s

In today's world of rising costs and economic uncertainties, building wealth after the age of 60 might seem like a daunting task. However, it's essential to remember that it's never too late to take control of your financial future and explore innovative ways to boost your income and savings. The latest Retirement Standard from the super industry body ASFA reveals that singles aged 65-84 need an annual income of approximately $50,207 for a 'comfortable lifestyle' in retirement, while couples require a combined income of $70,806 per year. With the full age pension often falling short of these numbers, many seniors are seeking alternative ways to supplement their income during retirement. Let’s delve into some practical and achievable wealth creation ideas tailored to older Australians who are looking to secure their financial well-being in their golden years. <ol> <li>Intentional Spending</li> </ol> Cutting down on non-essential spending is a powerful way to save money. Review your discretionary expenses and identify areas where you can make reductions. For instance, consider cooking at home instead of dining out, exploring free or low-cost local activities for entertainment, and delaying the purchase of luxury items. Prioritise experiences that provide value without straining your budget. <ol start="2"> <li>Pressure Test Your Retirement Strategy</li> </ol> It's essential to regularly review your retirement plan, taking into account the evolving financial landscape, legislative changes, and opportunities to minimise costs. By doing so, you can maximise the funds under your control and make informed decisions that align with your retirement goals. Keep in mind that the financial world is dynamic, and staying proactive in managing your retirement assets can lead to a more secure and comfortable retirement. <ol start="3"> <li>Get rid of things you don't need by selling online</li> </ol> Embrace the digital age and leverage online marketplaces to turn your unneeded possessions into cash. If you're not tech-savvy, don't hesitate to enlist the help of your grandchildren or any trusted youngster who can guide you through the process. Selling items online not only declutters your living space but also opens up opportunities to supplement your retirement income. Embracing technology can be empowering and profitable at any age! <ol start="4"> <li>Part-Time Job Opportunities in the Gig Economy</li> </ol> Embrace the gig economy by exploring part-time job opportunities. Various platforms offer flexible work arrangements suitable for seniors, such as rideshare driving or food delivery services. These roles allow you to set your own hours and supplement your retirement income. <ol start="5"> <li>Freelancing or Consulting</li> </ol> Your years of experience and expertise are valuable assets. Consider venturing into part-time freelancing or consulting opportunities within your field. Many businesses are eager to hire experienced professionals for specific projects or advisory roles, providing an opportunity to boost your income without a full-time commitment. <ol start="6"> <li>Renting Out a Spare Room</li> </ol> If you have extra space in your home, consider renting out a spare room to short-term guests. Websites like Airbnb make it easy to find renters, providing a consistent source of income and helping to cover housing costs. <ol start="7"> <li>Compare and Save</li> </ol> Once you've reviewed your spending habits, identify areas where you can potentially save money by shopping around and obtaining comparison quotes. Renegotiating bills and subscriptions can also yield significant savings. Don't forget to review your insurance policies, adjusting the coverage and excess to potentially reduce premiums. Creating wealth in your golden years may seem challenging, but with the right approach and determination, it's entirely achievable. By exploring these simple and practical ideas, older Australians can take steps toward securing their financial future and enjoying a comfortable retirement. Remember that every financial decision should align with your individual circumstances and objectives. However, it's crucial to note that earning extra income during retirement can impact age pension payments. It can be worth seeking financial advice about the best way to increase income during retirement without compromising any other entitlements, so consider seeking professional guidance to make informed choices on your path to financial security, ensuring a comfortable and worry-free retirement. Amanda Thompson, author of Financially Fit Women, is a sought-after speaker and qualified financial adviser. As the founder of Endurance Financial, Amanda is driven to renew personal and confidence by providing the financial knowledge and guidance to have a great relationship with money allowing you to become your own CFO (Confident, Focussed & On top of your Finances). For more information visit <a href="http://www.endurancefinancial.com.au">www.endurancefinancial.com.au</a> Image credits: Getty Images

Retirement Income

Don’t believe the hype. Menopausal women don’t all need to check – or increase – their testosterone levels

<a href="https://theconversation.com/profiles/susan-davis-10376">Susan Davis</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Ever heard “low testosterone” blamed for low mood, brain fog and loss of vitality? Despite all evidence to the contrary, social media influencers are increasingly promoting testosterone therapy as an elixir for women experiencing troubling symptoms of menopause. In a series of documentaries and <a href="https://www.dailymail.co.uk/health/article-11792553/Davina-McCall-effect-sparks-menopause-testosterone-treatment-rush-putting-women-risk.html">social media posts</a> about menopause in 2021 and 2022, British TV presenter Davina McCall promoted the use of testosterone therapy in addition to standard <a href="https://www.menopause.org.au/hp/information-sheets/combined-menopausal-hormone-therapy-mht">menopausal hormone therapy</a>. The “<a href="https://www.telegraph.co.uk/news/2023/02/17/davina-effect-fuels-surge-menopausal-women-using-testosterone/#:%7E:text=Chelsea%20Magazine%20Company-,'Davina%20effect'%20fuels%20surge%20in%20menopausal%20women%20using%20testosterone,NHS%20prescriptions%20for%20the%20hormone">Davina effect</a>” has helped fuel a <a href="https://pharmaceutical-journal.com/article/news/nhs-testosterone-prescribing-in-women-rises-ten-fold-in-seven-years#:%7E:text=The%20number%20of%20women%20in,The%20Pharmaceutical%20Journal%20has%20revealed">ten-fold increase</a> in prescribing of testosterone for women in the United Kingdom since 2015. Data isn’t available for Australia, but in my clinical practice, women are increasingly asking to have their testosterone level checked, and seeking testosterone to treat fatigue and brain fog. But while testosterone continues to be an important hormone before and after menopause, this doesn’t mean women should be having a blood test to get their testosterone levels checked – or taking testosterone therapy. <h2>What does testosterone do?</h2> Testosterone is an important hormone in women’s bodies, affecting the blood vessels, skin, muscle and bone, breast tissue and the brain. In both women and men, testosterone can act on its own or be converted into estrogen. Before menopause, testosterone is made in the ovaries, where it helps developing eggs grow and aids in estrogen production. The ovaries release both testosterone and estrogen into the bloodstream, and the levels of the two hormones in the blood peak around ovulation. Some of the testosterone measured in blood is also produced outside the ovaries, such as in fat, where it is made from “pre-hormones” secreted by the adrenal glands. This source of production of testosterone takes over after menopause. <h2>Do we have more testosterone before menopause?</h2> The claim is often made that pre-menopausal women have more testosterone in their bloodstream than estrogen, to justify the need for testosterone replacement after menopause. But, when sex hormones have been measured with precision, studies have shown this is not true. <a href="https://pubmed.ncbi.nlm.nih.gov/31390028/">Our research</a> found estrogen levels are higher than testosterone levels at all stages of the menstrual cycle. Blood testosterone levels <a href="https://pubmed.ncbi.nlm.nih.gov/31390028/">fall</a> by about 25% between the ages of 18 and 40 years in healthy women. The fall in testosterone coincides with the decline in eggs in the ovaries but whether this is a marker of the decline, a consequence, or a cause of the decline is not known. From around 40, the rate of decline slows and blood testosterone levels don’t change when <a href="https://www.menopause.org.au/hp/information-sheets/what-is-menopause">menopause</a> occurs naturally. Studies have not shown testosterone levels change meaningfully during the menopause transition. <h2>Can blood tests detect ‘low testosterone’?</h2> Some influencers claim to have a condition called “testosterone deficiency syndrome” or low levels of testosterone detected in blood tests. But there is no “normal” blood level below which a woman can be diagnosed as having “testosterone deficiency”. So there’s no such thing as having a testosterone deficiency or testosterone deficiency syndrome. This is also in part, because women have very low testosterone concentrations compared with men, and most commercial methods used to measure testosterone cannot separate normal from low levels in women with any certainty. Pre-menopausal women might also be told they have “low” testosterone if blood is drawn early in the menstrual cycle when it is normal for testosterone to be low. (However, it would only be clinically necessary to do this type of blood test to look for high testosterone, in someone with with excessive hair growth or severe acne, for example, not for low testosterone.) In post-menopausal women, much of the action of testosterone occurs in the tissues where it is made, after which testosterone is either converted to estrogen or broken down before it leaks back into the circulation. So blood testosterone concentrations are not a true reflection of tissue concentrations. Further complicating the picture is the enormous variability in the effects of testosterone. At a given blood level of testosterone, some women might have oily skin, acne, increased body hair growth or balding, while others will have no such effects. So, looking for a “low” blood testosterone in women is not helpful. <h2>Can testosterone improve sexual desire? What about other conditions?</h2> There is sound evidence that testosterone therapy may improve sexual desire in post-menopausal women who have developed low sexual desire that bothers them. This was <a href="https://www.tandfonline.com/doi/full/10.1080/13697137.2019.1637079">confirmed by</a> a <a href="https://pubmed.ncbi.nlm.nih.gov/31353194/">systematic review</a> of clinical trials comparing testosterone with a placebo or an alternative. These trials, all of which involved a treatment time of at least 12 weeks, showed testosterone therapy, overall, improved desire, arousal, orgasm and sexual satisfaction in post-menopausal women with low desire that caused them distress. Treatment is only indicated for women who want an improvement in sexual desire (after excluding other factors such as depression or medication side effects) and its success can only be determined by each woman’s personal self-reported response. But there is <a href="https://www.tandfonline.com/doi/full/10.1080/13697137.2019.1637079">not enough evidence</a> to show testosterone is beneficial for any other symptom or medical condition. The overall available data has shown no effect of testosterone on mood or cognition. As such, testosterone therapy <a href="https://www.tandfonline.com/doi/full/10.1080/13697137.2019.1637079">should not be used</a> to treat symptoms such as fatigue, low mood, muscle weakness and poor memory, or to prevent bone loss, dementia or breast cancer. However research continues to investigate these potential uses, including from my <a href="https://www.monash.edu/medicine/sphpm/units/womenshealth">research team</a>, which is investigating whether testosterone therapy can <a href="https://asbmr.onlinelibrary.wiley.com/doi/10.1002/jbmr.534">protect against bone density loss and muscle loss after menopause</a>. You can learn more about participating in one of our studies <a href="https://www.monash.edu/medicine/sphpm/units/womenshealth/join-a-study">here</a>. <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/209516/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/susan-davis-10376">Susan Davis</a>, Chair of Women's Health, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a> Image credits: Getty Images 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/dont-believe-the-hype-menopausal-women-dont-all-need-to-check-or-increase-their-testosterone-levels-209516">original article</a>.

Body

Australians are living and working longer – but not necessarily healthier, new study show

<a href="https://theconversation.com/profiles/kim-kiely-1457635">Kim Kiely</a>, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a> and <a href="https://theconversation.com/profiles/mitiku-hambisa-1457669">Mitiku Hambisa</a>, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a> Australians are living and working longer, but a longer working life doesn’t always come with equivalent gains in healthy life. <a href="https://www.thelancet.com/journals/lanpub/article/PIIS2468-2667(23)00129-9/fulltext">Our analysis</a> of change in life expectancy, health transitions and working patterns of more than 10,000 middle-aged Australians over the past two decades shows divergences in the number of years they can expect be in good health at work and in retirement. In particular, education matters. Those who left school before year 12 are losing years of healthy life, with their extra years in the workforce mainly comprising years of poor health. This is opposite to the trend among people who completed high school. And while men and women experienced improvements in life expectancy, on average women are not gaining extra healthy life years. Australians are being encouraged to extend their working life. For this to be sustainable and equitable, government and workplaces policies will need to make allowances for the health capacity of mature-age workers. <h2>How we found our results</h2> We’ve calculated <a href="https://www.thelancet.com/journals/lanpub/article/PIIS2468-2667(23)00129-9/fulltext">healthy working life expectancies</a> – the average number of years a person can expect to work in good health – for 50-year-olds using data from the Household, Income and Labour Dynamics in Australia (HILDA) survey. This is a longitudinal survey, meaning it seeks to interview the same households every year (about 17,000 people), enabling researchers to track life trajectories. We identified two age groups within HILDA’s survey sample and followed each cohort for 10 years. The first group was 4,951 people aged 50 years and older in 2001. The second group was 6,589 people aged 50 years and older in 2011. To estimate a healthy working life expectancy, we looked at how people transitioned in and out of good health and employment each year (based on survey data about their paid employment and long-term health conditions that limited participation in everyday activities). By combining this with deaths data, we have calculated the average duration spent (i) working in good health, (ii) working in poor health, (iii) retired in good health, and (iv) retired in poor health. <h2>Differences by education</h2> The following graphs show our results, based on expectancies at age 50. We show our data in this way, rather than total healthy life and working life expectancies from birth, because we followed people from age 50 and is this is the time from which workers start to plan for and transition into retirement. Typically we understand life expectancies to be calculated from birth, but they can be estimated for any age. If you live to 50, your life expectancy is greater than when you were born. Our first graph shows healthy life expectancies according to school completion. These estimates reflect the cumulative number of years a person will, on average, be healthy or unhealthy from age 50. Across the two cohorts, those with low education lose 0.8 years of healthy life, while those with high education gain 0.8 years of healthy life. As with all statistics, there is uncertainty in these estimates. (Our original analysis includes 95% confidence intervals but we do not show them here.) <hr /> <iframe id="47SIf" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/47SIf/2/" width="100%" height="400px" frameborder="0"></iframe> <hr /> These inequities are amplified in working-life expectancies, as the next graph shows. Among early school leavers, at age 50 healthy work years rose from 7.9 to 8.4 years, an increase of six months. But their years working in poor health rose from 2.7 to 3.6 years, a difference of 11 months. In contrast, for those who completed year 12, at age 50 healthy work years rose from 9.6 to 10.5 years, an increase of 11 months. Their years working in poor health rose from 3.1 to 3.5 years, a difference of five months. <hr /> <iframe id="kUCuy" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/kUCuy/4/" width="100%" height="400px" frameborder="0"></iframe> <hr /> The next graph illustrates what this means in proportional terms. <hr /> <iframe id="4rBXz" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/4rBXz/1/" width="100%" height="400px" frameborder="0"></iframe> <hr /> The next graph shows working life expectancies by sex. Men, on average, will spend 25% of their remaining working years in poor health, and women 24%. These percentages have not changed over time. <hr /> <iframe id="vQ4rK" class="tc-infographic-datawrapper" style="border: none;" src="https://datawrapper.dwcdn.net/vQ4rK/2/" width="100%" height="400px" frameborder="0"></iframe> <hr /> These findings are consistent with <a href="https://www.thelancet.com/journals/lanpub/article/PIIS2468-2667(22)00026-3/fulltext">previous analyses</a> demonstrating social inequalities in health expectancies to have been maintained over time, and possibly widened in some circumstances. In that study, women with low educational attainment appeared to have had negligible improvements in life expectancy and lost healthy life years. <h2>Implications for governments and employers</h2> Australia has this month raised the age at which people qualify for the <a href="https://theconversation.com/australias-retirement-age-just-became-67-so-why-are-the-french-so-upset-about-working-until-64-208648">age pension to 67</a>. When the pension was introduced in 1908, the qualifying age was 65 for men and 60 for women. At the time, average life expectancy for Australians at birth was about <a href="https://www.aihw.gov.au/reports/life-expectancy-deaths/how-long-can-australians-live/data">55 for men and 59 for women</a>. Now it exceeds 81 for men and 85 for women (though is considerably lower for some groups, notably Indigenous Australians). There’s an obvious rationale to prolong people’s working lives – to meet the challenges posed by population ageing and sustain the social security system. Nevertheless, consideration should be made for inequalities in life expectancy and health expectancy. For many ageing workers, health limitations constrain their capacity and opportunity to work. To achieve longer working lives, workplaces will be need become more supportive of mature-age workers, including accommodating long-term health conditions. This will likely involve addressing ageism in the workplace, increasing employer demand for older workers, creating appropriate work roles to fit the capacities and preferences of older workers, and providing pathways to lifelong education and training. We may also need to rethink our idea of flexible work, which has largely centred around the needs of parents and younger workers. Many older workers will have expectations for an independent and active retirement period, and it should be possible for flexible work arrangements to accommodate this. Finally, we should not discount the unpaid contributions made by many older adults through community service and providing care to loved ones.<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/210542/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/kim-kiely-1457635">Kim Kiely</a>, Lecturer, Statistics and Data Science, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a> and <a href="https://theconversation.com/profiles/mitiku-hambisa-1457669">Mitiku Hambisa</a>, Senior Research Associate, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a> Image credits: Getty Images 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/australians-are-living-and-working-longer-but-not-necessarily-healthier-new-study-shows-210542">original article</a>.

Retirement Income

"Entitled" widow sparks outrage over age pension question

An elderly widow has been slammed for writing in to a financial column asking for advice, despite being very well-off. The 88-year-old (NOT pictured here) wrote in to Nine newspapers’ columnist Noel Whittaker asking for advice on how to access a pension after the death of her husband. “My husband and I received a part pension but he passed away and I now have all the assets but no pension,” she wrote to Whittaker’s <a title="www.smh.com.au" href="https://www.smh.com.au/money/super-and-retirement/i-lost-my-pension-when-my-husband-died-can-i-get-it-back-20230718-p5dp2g.html" target="_blank" rel="noopener">Ask Noel </a>column. “I am 88 and own my own home. I have $680,000 in savings and $180,000 in shares. My income is $25,000 p.a. is there anything I can do to get a part pension?” While the question seemed innocent enough, many Aussies were infuriated by the woman's query, sparking outrage on social media. One person pointed out how well off the woman was, mockingly saying, "We have $1m in assets. Can we get the age pension?” Another person wrote, “Lady you’re 88, where are you getting 25k per year if not investments? You’ll be fine, Karen.” The pile-on continued, with plenty more slamming the woman for being “entitled”, greedy, and mocking her for wanting even more money than she already had to spend over her remaining years. One person added, “How much longer does this person think they’re going to live that they need more than $1 million …” Another person offered their own advice if the last needed more money, encouraging her to use her $680,000 savings, saying "That's what it's there for." Another person summed it up by writing, “The problem with old people these days is they’re too entitled. Back in my day, old people reused their tea bags and were grateful.” Many even commented that the question was the exact kind of “fake” submission dreamt up for columnists to “enrage readers”, and someone posed their own mock question to Whittaker to point out how ludicrous the woman's question was. “I own my own home, have 6 million ingots in assets, and my income is several gold bullion per month. I am 300 years old. I am a fire-breathing dragon. Can I claim the part pension?” they wrote. Image credits: Getty Images

Retirement Income

“A little bit unfair”: Hard-working tradies blast age pension increase

A group of tired tradies have rallied against the “unfair” decision to increase the age of eligibility for the age pension. The tradesmen, all in their 60s, simply said their bodies “can’t handle” working in manual labour until they’re 70, which may be in their future if the eligibility age continues to rise. The age to qualify for the pension was raised from 66 years and six months to 67 on July 1st with the move impacting any Australian born after December 31st, 1956. Experts predict the age could rise even further to 70 by the year 2050 with the news sparking backlash among hardworking Aussies. One man, a concreter in his mid-60s named Steve, said working the manual labour job was already taking a toll on his body and that the new retirement age was “unfair” on those working physically demanding jobs. “Now I'm starting to feel it more in my knees, I've got arthritis in my hands, I've had two back surgeries,” he told <a href="https://9now.nine.com.au/a-current-affair/australian-tradies-outraged-over-decision-to-raise-pension-age-to-67/5b5c6dda-c995-44ad-bb29-98c625e9d276" target="_blank" rel="noopener">A Current Affair</a>. “It does seem a little bit unfair that you have to work all your life.” Peter, who cuts down trees in the Gold Coast for a living, compared the raising of the pension age to the harsh realities of his job. “It's just like climbing a tree,” he said. “The injuries are just climbing all the time, it's getting harder, worse, sorer all the time.” He described what was happening as “very scary”. “Unfortunately I thought 65 would be a nice time to retire and get on a pension but now we are talking 67,” he said. “Is it going to go up to 68, 69, 70?” Macquarie University Professor Hanlin Shang believes the pension age will need to rise to 70 or government spending will spiral out of control. He and other researchers estimate that the retirement age will rise to 68 by 2030, 69 in 2036 and 70 by 2050. “As Australians live longer than before, it presents a challenge to the government to fund retirees through a pension scheme,” Professor Shang said. Despite these challenges, Peter said politicians don't understand the burden that working physical jobs has on older bodies. “It would be nice to be a politician sitting on a nice comfortable chair all day in an air conditioned room or office,” he said. “They need to come out and see what it's like to do some physical work. That would make them change their mind in trying to stretch this pension out to 67, 68, 69, 70.” Image credits: A Current Affair

Retirement Income

Balmain Private: A decade of trust and success

Having celebrated its 10th anniversary in 2022, Balmain Private has firmly established itself as one of Australia's most reliable investment options. Since its inception in 2012, the company has consistently delivered impressive results, making it a trusted choice for individuals and advisers alike. With a track record of $244 million in interest paid to investors – and with an even more impressive capital loss of zero dollars – Balmain Private has demonstrated its commitment to delivering solid returns. Over the past decade, investors have enjoyed an average annual return of 7.56%*, with the highest reaching an outstanding 11.25% net return*. What sets Balmain Private apart is its unique approach to investment. The company empowers investors by allowing them to build, select, and manage their own portfolio of first mortgage loans. This flexibility appeals to a wide range of investors, including Retail, High Net Worth and Self-Managed Superannuation Fund investors, who seek alternative income sources beyond traditional options. At Balmain Private, the approval process for investment offerings is highly meticulous. Only the best loans make it to the investors, ensuring a carefully curated selection that prioritises quality and performance. Remarkably, more than 20% of loans repaid have exceeded the target return rate, while the rest have consistently met their target rate of return. Investing with Balmain Private is not only rewarding but also convenient. The entire process can be completed online, allowing investors to transact at their leisure. Whether on a PC, tablet or smartphone, investors have easy access to their portfolio. Additionally, Balmain Private offers a Mobile App that enables investors and advisers to manage, invest and review their portfolio on the go. The app allows for seamless depositing or redeeming of funds and provides downloadable reports right on your mobile device. To further enhance transparency and control, investors or their advisers can manage their portfolio through an intuitive online investor portal. This portal provides comprehensive details on current investments, capital movements, income distributions and transactions, ensuring that investors stay well-informed every step of the way. If you're ready to explore the opportunities offered by Balmain Private, you can download their complimentary <a href="https://info.balmain.com.au/rs/929-AKB-976/images/BPD%205727%20Target%20Market%20Determination.pdf" target="_blank" rel="noopener">Target Market Determination</a> (TMD), their <a href="https://info.balmain.com.au/FactSheetOrder-Over60_01LandingHomepage.html?utm_source=Over60&utm_medium=Editorial&utm_campaign=June&utm_content=Editorial_TextLink" target="_blank" rel="noopener">Investor Fact Sheet</a>, or get in touch with their Investments Team at 02 9232 8888. For more detailed information, you can also visit their library of materials at <a href="https://linktr.ee/balmainprivate" target="_blank" rel="noopener">https://linktr.ee/balmainprivate</a>. Balmain Fund Administration Limited, with ABN 98 134 526 604 and AFSL No: 333213, serves as the issuer of units in the Balmain Discrete Mortgage Income Trusts ARSN 155 909 176. Before making any investment decision, it is crucial to read the Product Disclosure Statement (PDS) and the Target Market Determination (TMD) available on the company's website or by calling 02 9232 8888. It's important to carefully consider whether investing in the Trust aligns with your financial goals, as rates of return are not guaranteed and are subject to future revenue, which may be lower than expected. As with any investment, there is a risk of losing some or all of the principal investment. However, Balmain Private's exceptional track record and commitment to investor satisfaction provide a solid foundation for a successful investment journey. Choose Balmain Private for your chance to embark on another decade of trust and prosperity. Image: Shutterstock This is a sponsored article produced in partnership with Balmain Private. *Since inception. Past performance is not indicative of future performance. Investors should consider the risk associated with any Loan as set out in the PDS and any relevant Supplementary PDS (SPDS) pertaining to that Loan.

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Could not getting enough sleep increase your risk of type 2 diabetes?

Stay or go? Most older Australians want to retire where they are, but renters don’t always get a choice

How long does back pain last? And how can learning about pain increase the chance of recovery?

Monty Python star's candid financial admission

After a lifetime studying superannuation, here are 5 things I wish I knew earlier

Real estate agency slammed for "greedy" rental increase

It’s not just about accumulating super. Australians need to learn how to spend their retirement savings

"You are the problem": Landlord slammed over rent increase just before Christmas

Carer allowance and disability pension set to increase

Downsizing cost trap awaits retirees – five reasons to be wary

Women and low-income earners miss out in a superannuation system most Australians think is unfair

Do stress and depression increase the risk of Alzheimer’s disease? Here’s why there might be a link

Santas needed! Surprising Christmas shortage spells job openings for Aussie grandads

7 hacks for retirees to make your money last longer

7 simple wealth creation ideas for over 60s

Don’t believe the hype. Menopausal women don’t all need to check – or increase – their testosterone levels

Australians are living and working longer – but not necessarily healthier, new study show

"Entitled" widow sparks outrage over age pension question

“A little bit unfair”: Hard-working tradies blast age pension increase

Balmain Private: A decade of trust and success

Our Partners

News

Shop

Catalogues

Newspaper

Contests

Entertainment

Travel

Health

Lifestyle

Finance

Property

Compare

Games

Information

Keep up to date

Search

Could not getting enough sleep increase your risk of type 2 diabetes?

Stay or go? Most older Australians want to retire where they are, but renters don’t always get a choice

How long does back pain last? And how can learning about pain increase the chance of recovery?

Monty Python star's candid financial admission

After a lifetime studying superannuation, here are 5 things I wish I knew earlier

Real estate agency slammed for "greedy" rental increase

It’s not just about accumulating super. Australians need to learn how to spend their retirement savings

"You are the problem": Landlord slammed over rent increase just before Christmas

Carer allowance and disability pension set to increase

Downsizing cost trap awaits retirees – five reasons to be wary

Women and low-income earners miss out in a superannuation system most Australians think is unfair

Do stress and depression increase the risk of Alzheimer’s disease? Here’s why there might be a link

Santas needed! Surprising Christmas shortage spells job openings for Aussie grandads

7 hacks for retirees to make your money last longer

7 simple wealth creation ideas for over 60s

Don’t believe the hype. Menopausal women don’t all need to check – or increase – their testosterone levels

Australians are living and working longer – but not necessarily healthier, new study show

"Entitled" widow sparks outrage over age pension question

“A little bit unfair”: Hard-working tradies blast age pension increase

Balmain Private: A decade of trust and success

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