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Why "Grey Divorce" is on the rise in Australia

It seems that the older generation is taking a page out of the millennial playbook and saying, "Thanks, but no thanks" to marriage. According to a recent report by <a href="https://www.seniors.com.au/documents/australian-seniors-series-love-after-50-report-whitepaper.pdf" target="_blank" rel="noopener">Australian Seniors</a>, the trend of "Grey Divorce" has become so prevalent that one in three couples in Australia decide to call it quits after hitting the big 5-0. It turns out that once the kids have flown the nest, some couples find themselves facing a conundrum. And no, it's not a midlife crisis involving sports cars and questionable hair dye choices. It's the dreaded "empty nest syndrome" – the sadness and upheaval that parents experience when their adult children finally leave the family home. The report clearly highlights that almost half of these later-in-life divorces are triggered by the empty nest syndrome, followed closely by increased financial pressures (35 per cent) and retirement adjustments (34 per cent). But the report also reveals a silver lining. Many singles over 50 are discovering greater happiness and fulfilment in their solo acts. It's like they've found the secret formula for joy, and it doesn't involve a partner – just personal space, independence, financial control, peace and quiet, and less stress. Who needs a spouse when you can have tranquillity and control over the TV remote? In fact, more than half of single people over 50 reported being content without a committed partner, and almost one-third claimed that their relationship status was a positive influence on their happiness. Move over, relationship goals; it's time for solo satisfaction to take centre stage. And for those still treading the murky waters of late-life love, there's hope yet. The report offers some sage advice from those who've managed to keep the spark alive, including open and honest communication about changing needs, supporting personal growth, and maintaining independence. While the report concludes that overall divorce rates in Australia have actually hit an all-time low in recent years, the over-50 crowd appear to be shaking things up and going their own way. So, whether you're contemplating marriage or dealing with an unexpected guest cancellation at your wedding, just remember – there's a 50/50 chance you'll be navigating the exciting world of "Grey Divorce" someday. Image: Getty

Legal

Aussies want their parents to spend their nest egg

New research has found that most Australians would rather see their parents and grandparents spend their retirement savings than receive an inheritance. In the last 20 years, inheritances in Australia have totaled almost $1.4 trillion, averaging out to about $67 billion a year. The average inheritance is approximately $125,000 and goes to a recipient of about 50 years of age. The new report from CompliSpace has suggested a shift in attitudes for how Aussies think about inheritances, while also helping to bridge the aged care funding shortfall, which is set to increase. It is estimated that the Australian government spends approximately $24 billion each year on aged care, which is less than half of the global average. Melbourne woman Louise Lucas shared her attitudes on her parents spending their nest egg, telling <a href="https://www.9news.com.au/national/inheritance-values-changing-parents-urged-to-spend-not-leave-to-kids/3764f9cd-5287-4520-948a-e6de08ce2d1d">9news.com.au</a> she was “heartily all for” her parents leaving her nothing in their will, as long as they had a comfortable retirement. "I'm a mortgage broker and I've met a lot of retired people who are just hanging on and not living very well," she said. Louise went on to say that while it is better for older people to spend their money during their retirement years to live comfortably and stay active, it would also give the economy a boost. "Money's for experiences, you'd like to think, not things," she said. "If you've got more than $100,000 in the bank when you die, you've wasted your time and money." Image credits: Getty Images

Retirement Income

Being in a couple can leave women with less savings – here’s how to make nest eggs more equal

Growing <a href="https://www.oecd-ilibrary.org/employment/oecd-employment-outlook-2015_empl_outlook-2015-en">job insecurity</a>, <a href="https://news.sky.com/story/signs-of-worst-year-for-stock-market-investors-in-a-decade-after-wall-street-slips-into-bear-market-and-bitcoin-crashes-12633745">financial market volatility</a> and <a href="https://www.theguardian.com/business/2022/may/18/uk-pensioners-cost-of-living-crisis">rising prices</a> have created an extremely uncertain environment for UK savers. The country’s welfare provisions are <a href="https://www.oecd.org/unitedkingdom/PAG2017-GBR.pdf">among the lowest</a> of all OECD countries and a growing number of pensioners are finding it difficult to gain <a href="https://www.theguardian.com/society/2022/mar/17/number-of-pensioners-in-relative-poverty-in-uk-up-200000-in-a-year">financial security</a> in later life. Even well-known <a href="https://metro.co.uk/2022/03/20/money-saving-expert-martin-lewis-runs-out-of-advice-on-cost-of-living-crisis-16309470/">money-saving experts</a> have run out of ideas to help those struggling with their finances. In such tough times, people planning for old age must be even more canny about their money to ensure there is enough for a comfortable retirement. Pension planning typically starts with a long-term savings goal to ensure an adequate income during retirement. Then savers usually make regular contributions to suitable investment products in line with this goal over the course of their working lives. Our recent research shows, however, that there are differences in the way people decide on and work towards those goals. We believe these differences may contribute to a wealth gap between men and women in the UK, with more women in danger of being left financially vulnerable than men. The commitment you make when you set a goal essentially motivates you to achieve that goal, according to certain <a href="https://www.sciencedirect.com/science/article/pii/S0022053113000033?casa_token=0_ot9tQqosQAAAAA:Br_9n9OaTKs25D1plcAHmBefoy5suGqafNYG3Ab0FZXhlLd4sLnumW6JHa80ArKHx5zfDGNT">behavioural science</a> theories. In other words, people with ambitious savings goals can be expected to end up with more money in their retirement accounts, compared with those with modest savings goals. Less ambitious savers may not strive to put away more than planned because they believe they will fail. Based on our <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/kykl.12294">recent research</a> into long-term savings goals, we believe such differences in attitudes may contribute to the <a href="https://www.prospectmagazine.co.uk/other/gender-wealth-gap-women-investing">£15 billion wealth gap</a> between men and women. <h2>Growing gender wealth gap</h2> Our study <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/kykl.12294">explores long-term savings goals</a> among 1,760 clients at a well-established UK investment firm, combined with insights from 56 interviews with another group of UK-based men and women savers. It uncovers a third possible explanation for a rising gender wealth gap in the UK, besides income differentials (based on the <a href="https://www.aeaweb.org/articles?id=10.1257%2Fjel.20160995&source=post_page---------------------------">gender pay gap</a>, the <a href="https://www.aeaweb.org/articles?id=10.1257/app.20180010">child penalty</a>, <a href="https://www.journals.uchicago.edu/doi/full/10.1086/511799?casa_token=icrT0aW2dYUAAAAA%3A7k6cPuNg15qaB6ICZbBe7OO8tffw6404qf-kN-1e5lIVWjNyTlC2MOUD7We4CMNUOVWz8krjIQ">the motherhood penalty</a>) and investment differentials that generally show men earning higher financial returns because they tend to <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/j.1465-7295.2008.00201.x?casa_token=Bf3MjE7ar9UAAAAA%3A3lEvIUQjvDM4OaPUTW5tnUkbMAnn8-EZtknAR9Mx98_BNwNttlxF6i7jEYYCGHxr_3b9BLM_UxCr">take more risk</a>. This third reason, our analysis suggests, is that gender norms influence attitudes towards saving. This tends to negatively affect women in couples most of all. We found that men and women who are married or cohabiting tend to strongly diverge when it comes to their chosen savings goals, compared with those who live on their own. More specifically, married or co-habiting men are more likely to be in charge of long-term saving for the household and they typically choose more ambitious personal savings goals. Those higher savings goals were not affected by expected levels of income and so could not be attributed to a gender pay gap. Similarly, we also controlled for varying attitudes toward risk-taking in investment portfolios. <h2>The role of gender norms</h2> So why do men and women in couples save so differently? Our research shows that these differences are linked to the traditional gender roles often assigned to particular members of households. When women are in charge of caring and domestic work such as childcare, grocery shopping and short-term budgeting, there is a tendency to focus on short-term financial security. Perhaps in anticipation of adverse events affecting their daily budget management, these women tend to choose modest savings goals and accessible financial products such as <a href="https://www.gov.uk/individual-savings-accounts">individual savings accounts</a> (ISAs). On the other hand, we found that men in couples tend to choose more ambitious goals and use investment products that are designed for longer-term savings habits and have the potential for <a href="https://www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/sipp-or-isa-how-do-you-decide#:%7E:text=SIPP%20or%20ISA%3A%20how%20your%20hypothetical%20savings%20might%20grow">better returns</a>. For example, <a href="https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/self-invested-personal-pensions?source=mas">self-invested personal pensions</a> provide more options and control over what you can invest in and when, compared with a standard personal pension or an ISA. Men are also more often assigned to the role of managing long-term investing tasks, according to our research. This encourages a focus on long-term wealth growth and reinforces their willingness to set challenging goals. These findings are intensified within couples with a more “traditional” division of roles - that is, when the man is the breadwinner. For single people, however, men and women perform both the short- and long-term financial tasks and we found no gender differences in savings goals among this type of study participant. This absence of any gender-based effect among the people in our study who are not part of a couple shows a clear need to move beyond simply accepting that all men and women <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/j.1465-7295.2009.00251.x?casa_token=DjyY7QO3AbYAAAAA%3Alqjh1kacbeO6WWPm8a778_QyzCAEYEQ4L5DISL4yRPjIMBh_Vne1e1UkFSyXeIlWpKbDBS9wMJ_V">think differently</a> about saving and investing when discussing retirement planning and financial risk-taking. Exploring the context in which people make financial decisions is much more important. Highlighting when goals are unambitious compared to people with similar wealth and incomes, for example, could reduce the effect of gender norms on financial decisions. In particular, it should be emphasised that, by leaving their male partner to accumulate money for the household, women may increase their financial dependency. In that context, late divorce or separation could have a dramatic effect on financial security for those <a href="https://www.theguardian.com/lifeandstyle/2017/mar/19/divorce-women-risk-poverty-children-relationship">without legal protection</a>. Given the continued uncertainty around the economic outlook, addressing the gender wealth gap in this way will help to create a more secure future for all UK savers. Image credits: Getty Images This article originally appeared on <a href="https://theconversation.com/being-in-a-couple-can-leave-women-with-less-savings-heres-how-to-make-nest-eggs-more-equal-186269" target="_blank" rel="noopener">The Conversation</a>.

Retirement Income

Oscar-winning actress dead at 88

Oscar-winning actress Louise Fletcher has died from natural causes at the age of 88. The star’s representative confirmed that she died at her home in France, after surviving two bouts of breast cancer. Best known for her role as Nurse Ratched in the film One Flew Over the Cuckoo’s Nest, Louise rose to fame thanks to her incredible performance. The film was the second in Oscar award winning history to have won all five major academy awards. “Well, it looks like you all hated me so much that you’ve given me this award for it, and I’m loving every minute of it,” Louise said when she accepted the Oscar awards. “And all I can say is, I’ve loved being hated by you.” Louise also appeared in Exorcist II: The Heretic and The Cheap Detective. She was encouraged to act by her Aunty and undertook acting classes at night. However, Louise was deemed too tall to act across from Hollywood’s leading men actors. This however did not stop her from landing TV roles before she eventually met her husband and started a family in 1961. From 1973, she returned to the industry before accepting the role as Nurse Ratchet. Image: Getty

Caring

The exact amount Aussies need to save for a comfortable retirement

A confronting new financial survey has revealed how much money Australians need to save annually in order to have a comfortable retirement. The survey, conducted by financial planner Merit Planning, concluded that the average Aussie may need to save around $75,000 to $100,000 per year to have enough funds to retire. And while superannuation is a major asset on the path towards retirement, the fund you invest with may not be giving you the full picture of where your money is going. New analysis by Market Forces revealed several major super funds are potentially misleading consumers by “greenwashing”, with eight of the 11 super fund investment options labelled “sustainable” or “socially responsible”, choosing to invest in fossil fuel giants. Both issues have cast light on major problems the average Aussie will face going forward as inflation and cost of living prices continue to surge. Merit Planning’s survey took hundreds of responses from retirees about their retirement experience, showing how big their nest egg will need to be for the years ahead. Almost half of respondents, or 42 per cent, said between $75,000 and $100,000 is needed, while about 20 per cent said the average person needs over $100,000 a year. Only 6 per cent of respondents said the age pension level of around $40,000 per year was enough to retire with. Financial planner Darren Howard said the average couple in Sydney would need to earn about $85,000 per annum combined to retire comfortably given the ongoing cost of living crisis. Craig McDonald, owner of CBM Mortgages, said: “We speak to all our clients about their retirement and their superannuation position and how that will look when they enter into retirement. “We recommend they speak to a financial planner to ensure they are putting those steps in place early.” Image credits: Getty Images

Retirement Income

How do birds make their nests?

The first thing to know is not all birds make nests. For example, emperor penguin fathers carry their precious egg on their feet (to keep it off the frozen ground). Some birds, such as <a href="https://en.wikipedia.org/wiki/Cuckoo">cuckoos</a>, will lay their eggs in someone else’s nests. Others lay them on the ground among leaves or pebbles, or on cliffs with very little protection. <a href="https://images.theconversation.com/files/433852/original/file-20211125-25-1be6ny0.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/433852/original/file-20211125-25-1be6ny0.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=237&fit=clip" alt="Eggs among pebbles" /></a> Some birds will lay their eggs among pebbles on the ground, which doesn’t offer them much physical protection. Shutterstock For the birds that do build nests, there is one main goal: to keep their eggs and chicks safe. <h2>Many places to build a nest</h2> Many birds also make their nests in tree hollows, including parrots. That’s just one reason it’s important to not cut trees down! Meanwhile, kookaburras use their powerful beaks to burrow into termite nests and make a cosy nest inside. And the cute <a href="https://www.birdlife.org.au/bird-profile/spotted-pardalote">spotted pardelote</a> will dig little burrows in the side of earth banks – with a safe and cosy spot for its eggs at the end of the tunnel. <a href="https://images.theconversation.com/files/433827/original/file-20211125-19-1en7ivf.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/433827/original/file-20211125-19-1en7ivf.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="" /></a> The tiny spotted pardalote is one of the smallest Australian birds, and measures about 8 to 10 centimetres in length. Shutterstock Some birds, such as <a href="https://en.wikipedia.org/wiki/Australian_brushturkey">brush turkeys</a>, spend months building huge mounds on the ground which can heat up from the inside. The male turkey makes sure the ground is exactly the right temperature inside the mound, and then lets the female lay the eggs inside. He’ll take big mouthfuls of dirt surrounding the eggs to check it’s not too hot or cold. <h2>What materials do they use?</h2> Birds construct many different types of nests. There are floating nests, cups, domes, pendulums and basket-shaped nests. They can be made out of sticks, twigs, leaves, grasses, mosses or even mud. <a href="https://www.birdlife.org.au/bird-profile/white-winged-chough">Magpie-larks</a> (also called “peewees”), <a href="https://birdlife.org.au/bird-profile/apostlebird">apostlebirds</a> and <a href="https://www.birdlife.org.au/bird-profile/white-winged-chough">choughs</a> make mud bowl nests that look like <a href="http://www.birdway.com.au/corcoracinae/apostlebird/source/apostlebird_100486.php">terracotta plant pots</a>. To do this, they gather mud and grasses in their beaks and shake it around to mix it with their saliva. They can then attach it to a branch and build upwards until the nest is complete. In fact, bird saliva is a really strong and sticky material to build nests with. Birds will often mix saliva and mud to make a type of glue. And some swiftlets make their nests entirely out of solidified saliva. People will even eat these nests in <a href="https://www.abc.net.au/news/2020-02-12/birds-nest-soup-bird-blown-to-australia/11953830">bird’s nest soup</a>! <a href="https://images.theconversation.com/files/433823/original/file-20211125-23-7mufq4.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/433823/original/file-20211125-23-7mufq4.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="" /></a> Some swiftlets will make their nest entirely out of solidified saliva. Shutterstock Willie wagtails use another type of glue - sticky spiderwebs. They “sew” grasses together using spider webs and the webs help keep the nests strong against wind and water, too. They have to perfect the technique of gathering the spiderweb though, otherwise it can get tangled in their feathers. <a href="https://images.theconversation.com/files/433824/original/file-20211125-19-3ejs71.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/433824/original/file-20211125-19-3ejs71.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="" /></a> Willy wagtail’s nest is a neatly-woven cup of grasses, covered with spider’s web on the outside and is lined with soft grasses, hair or fur. Shutterstock Magpies and crows, both common visitors to our gardens, are also clever nest builders. Not only can they expertly layer their sticks into a bowl, but they also use many human-made materials in their nests. You might find them using fabric, string or a wire to hold a nest together. Some birds such as red kites have even been seen “decorating” their nests with human rubbish. And Australian babblers line the inside of their nests with a thick wall of kangaroo poo, followed by soft fluff, to keep their chicks warm. <a href="https://images.theconversation.com/files/433851/original/file-20211125-23-ljn8ga.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/433851/original/file-20211125-23-ljn8ga.jpeg?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" alt="" /></a> The chestnut-crowned babbler lives in the desert and can have up to 23 birds roosting in one nest. Shutterstock <h2>The building process</h2> To actually weave the nests, birds will usually create a base by layering sticks or twigs in the place they want it. Then they use their beaks and feet to weave a chosen materials through, to hold the sticks in place. They can pull strips of material with their beaks over and under, just like weaving a rug. They can even tie knots! Nests can take a really long time to make, so they’re often reused year after year. Weaver birds are so good at weaving, they can build complex nests that <a href="https://www.wired.com/2014/08/absurd-creature-of-the-week-the-bird-that-builds-nests-so-huge-they-pull-down-trees/">cover entire trees</a> and have several chambers. <iframe width="440" height="260" src="https://www.youtube.com/embed/kVlyUNRtQmY?wmode=transparent&start=0" frameborder="0" allowfullscreen=""></iframe> Check out this baya weaver bird build an incredible hanging nest using the weaving method. These birds are found across the Indian Subcontinent and Southeast Asia. To summarise, birds are really intelligent animals. They use their intelligence, along with their beaks and feet, to find the most clever ways to make nests with whatever materials are available. And they get better at this by learning from others, such as their parents or peers.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/172391/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/kiara-lherpiniere-1276069">Kiara L'Herpiniere</a>, PhD Candidate, Wildlife Biologist, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/curious-kids-how-do-birds-make-their-nests-172391">original article</a>. Image: Shuttershock

Family & Pets

Studying wasp nests to put an age on art

<div> <div class="copy"> Scientists believe well-known pre-historic rock paintings in Western Australia are younger than previously thought after dating the remnants of mud wasp nests found over and beneath them. The study, which is described in a <a rel="noopener" href="https://advances.sciencemag.org/content/6/6/eaay3922" target="_blank">paper</a> in the journal Science Advances, is one of few in recent decades, they say, to successfully use the novel and challenging <a rel="noopener" href="https://www.science.org.au/curious/earth-environment/how-mud-wasp-nests-help-delve-our-countrys-past" target="_blank">approach</a>. The <a rel="noopener" href="https://www.kimberleyfoundation.org.au/kimberley-rock-art/rock-art-sequence/gwionbradshaw-period/" target="_blank">Gwion</a> paintings of the Kimberley region have been notoriously hard to date, but evidence has suggested they were painted as far back as 17,000 years ago and over the span of several thousand years, pointing to a remarkably long-lived artistic tradition. Now a team led by Damien Finch from the University of Melbourne, with input from the Australian Nuclear Science and Technology Organisation, has presented its findings suggesting they were more likely painted during a narrow timeframe, about 12,400 years ago. To do this, they used radiocarbon dating, which can determine how long ago living material died. Working with the traditional owners of the Aboriginal sites, they analysed the nests of wasps that build mud nests on rock walls, sometimes incorporating charcoal from regular local brushfires. By dating the charcoal in the nests, they estimated when the nests were built. By dating nests that had been painted over, they determined the maximum age of the artwork. By dating nests on top of paintings, they found minimum ages. The possible age ranges of 19 of the 21 paintings studied overlap during a brief period between 12,000 and 13,000 years ago. Two samples fall outside of that range. One, which was found under a painting but dated at only 6,900 years old, is thought to be unreliable and possibly contaminated. However, the second was found over a painting and more reliably estimated to be 16,600 years old, complicating the findings. Finch and colleagues suggest more nest samples need to be identified and dated to get a clearer picture. Nevertheless, the results “confirm that rock art was being produced in the Kimberley during the terminal Pleistocene”, they write in their paper. “Notably, as the Gwion paintings are not the oldest in the relative stylistic sequence for this area, earlier styles must have an even greater antiquity.” Originally referred to as Bradshaw paintings, the Gwions are feature finely painted human figures in elaborate ceremonial dress, including long headdresses, and accompanied by material culture including boomerangs and spears. Image credits: Getty Images</div> <div id="contributors"> This article was originally published on <a rel="noopener" href="https://cosmosmagazine.com/history/studying-wasp-nests-to-put-an-age-on-art/" target="_blank">cosmosmagazine.com</a> and was written by Nick Carne. </div> </div>

Art

Woman shares terrifying snaps of wasp infestation

A <a rel="noopener" href="https://www.news.com.au/lifestyle/real-life/woman-shares-terrifying-wasp-infestation-online-neighbours-suggest-fire-and-deodorant/news-story/43d4f645a532185d12291ca0b642867e" target="_blank">NSW woman</a> has taken to social media searching for help to deal with a terrifying wasp infestation. Posting in a local Facebook group, the woman asked for advice on how to remove the colony of buzzing insects from her window sills. “How do I get rid of wasps?” she wrote. “An exterminator? “Help”. <img style="width: 382.0598006644518px; height: 500px;" src="https://oversixtydev.blob.core.windows.net/media/7845587/capture.png" alt="" data-udi="umb://media/bbdb0324e3ca4cb285ea8ec763360e75" /> Image: Facebook Locals were quick to provide advice, including several more unconventional ways of dealing with the situation. “Deodorant and lighter usually does the trick,” one person wrote. “Wait till dark, get a sheet of newspaper, roll it up nice and long and burn them,” another commented. “Lots of dishwasher liquid and water in a spray bottle and spray it into the hose,” a third said. Several other members also suggested various bug sprays and repellents. However, the woman revealed that those solutions wouldn’t quite work. “Thank you everyone,” she wrote. “I am cautious to spray them myself as I have a slight reaction to bees/wasps and they’re also up on the second floor window, which makes it tricky. “But I’ll see if I can get someone to help. After this revelation, another member of the group called her out and urged her to leave the wasps alone. “If they are on a second-floor window & not worrying anyone hanging about the window ledge - why would you kill them??” the person asked. “Because they’re coming into my shed, where I park and I’m allergic and have a child,” the woman countered. Though the woman has yet to share an update on the wasp removal, she has plenty of options to consider. Image: Facebook

Home & Garden

Mum’s warning after daughter stung by wasp: “Check your laundry”

A mum has taken to social media with a warning to parents after her daughter was stung by a wasp caught in her clothes. Having hung her daughter Kathleen’s clothes out to dry, Sabrina Rigby said the insect must have climbed in and subsequently stung the six-year-old. “WARNING. Check your laundry!” she wrote in a Facebook post. In the post, she said that she’d hung her daughter’s clothes on the line to dry the day before. “This queen wasp has emerged from hibernation and gotten caught up in the clothes,” she recounted. “The clothes which I then bagged and left in the girls room to be packed away.” “I didn’t know she was there until this morning, when she managed to wriggle her way out of the bag and sting Kathleen,” the mum said. “She is okay and luckily, it turns out, not allergic like I am. But you can bet I’ll be checking all my laundry from now on!” Commenters were thankful for the advice and shared their appreciation for the mum sharing her story. “Now peering inside my slippers before I put my feet in!!” one woman wrote. “I got one in my sons pjs last week when I was folding them,” another shared. Concerned about her daughter, others warned the mum to keep an eye on her in case she actually is allergic. “You don’t tend to react badly to a first exposure, it is subsequent exposures that she’ll react to if she’s allergic,” one mum advised. “Keep a close eye if she gets stung again in the future.” Image credit: Sharina Rigby / Facebook

Caring

How to discover your half-a-million-dollar retirement nest egg

Many people are quickly discouraged when they think about retirement. They think it’s all too hard, that they have left it too late and there is no way they are ever going to save enough to live on when they do stop work. Typically, this is because they have overlooked their unseen, unsaved ‘half a million dollar nest egg’. By this of course, I’m referring the Federal Government’s aged pension, which is available to all Australians who reach retirement age, subject to how much money you own outside your own home. It’s a significant back stop for anyone approaching retirement and should be the basis of your retirement plans. Importantly, once you qualify for it, you can’t loose it, its indexed for inflation, its tax free and it will last as long as you do. It is very much your long-lost nest egg. So, for a home owning couple, you can own up to $401,500 in assets in addition to your own home and still qualify for the full age pension, which is currently set at $37,000 a year, paid out each fortnight. To generate the equivalent income privately, you will need to save $500,000 a year and obtain a steady return, year in year out, of 7.5 per cent plus capital gains to ensure your assets keep up with inflation. So even if you think it’s all too late and you have no money set aside for retirement, think again. As an Australian, you effectively have half a million dollars just sitting there, waiting for you. Needless to say, the more money you do own in addition to your own home, beyond $400,000, the less you will receive in terms of the age pension and for those who own more than $800,000, the age pension will cut out completely. However, if you do own your own home and have more than $800,000 in savings, you should be confident you will enjoy financial security throughout your retirement without relying on the age pension. <img style="width: 0px; height: 0px;" src="https://oversixtydev.blob.core.windows.net/media/1201/why-many-aussies-are-staying-in-the-family-home-1.jpg" alt="" data-udi="umb://media/748719788cb343d288b29a9f0b3de2c1" /> However, the reason it’s so important to keep in mind that the age pension is there through retirement, acting if you like as a safety net, is that it should help you as you approach retirement to avoid taking undue risks with your precious retirement savings. If nothing else, it should help explode the myth that you need a million dollars saved in order to enjoy your later years and with this, help all Australians plan better for a safe and secure retirement knowing they have the age pension to fall back on. When this becomes your starting point, the key questions then become how can I find somewhere to live where I don’t have a mortgage and how much money can I squeeze into super so I have a second income stream in addition to my age pension entitlements? If you look at your retirement from this perspective, you will start seeing it in a very different light and hopefully it will encourage you to really think through your options about how you do choose to live. The age pension should be the cornerstone of your retirement planning if you’re worried you haven’t saved enough. Importantly, if you think you might qualify for an age pension, you should start applying for it early and certainly within a year of when you hope to qualify for it based on your age. This will give you plenty of time to meet with someone from Centrelink and complete all the paperwork they require. Be completely honest with Centrelink and they will help you make the most of your entitlements. Patricia Howard, author of The No-Regrets Guide to Retirement: how to live well, invest wisely and make your money last (Wiley), is a licenced Australian financial adviser. She has a Commerce Degree from the University of Melbourne, holds her own Australian Financial Services Licence and recently passed the FASEA Financial Adviser exam. Find out more at <a href="http://www.patriciahoward.com.au">www.patriciahoward.com.au</a> Note this is general advice only and you should seek advice specific to your circumstances.

Retirement Life

Ten key steps to help you make your retirement the best years of your life

Too often Australians approach their retirement years with dread. They fear they won’t have enough money to live on and worse still, that somehow, they will run out of money when they most need it. In writing The No-Regrets Guide to Retirement: how to live well, invest wisely and make your money last, I want all Australians to know they can have the retirement of their dreams and live a happy, wonderful life after they stop work. I also wanted to help as many Australians as possible, avoid some of the more obvious pitfalls, that can lead to financial heartbreaks and the sort of regrets that can last the rest of their lives. Hopefully some simple tips can stave off the more obvious disasters. <img style="width: 500px; height: 281.25px;" src="https://oversixtydev.blob.core.windows.net/media/7840231/eg.jpg" alt="" data-udi="umb://media/16c2c0970098410c9026da8791b135b8" /> Tip 1. Don’t Grow Old and Grey. Go Harlequin! Don’t live your retirement the way your parents did or according to some out-dated rule book. Most importantly, don’t skimp on the here and now, so you can leave a nest egg for your children. Retirement is your big opportunity. Make the most of every single day Tip 2. Your ‘Half a Million’ Retirement Nest egg Every Australian is eligible for the age pension. While it is means tested, this is the equivalent of having $500,000 in retirement savings. More, its secure, indexed for inflation and you will never lose it – it’s your long-lost retirement nest egg. There’s too much talk in the financial planning industry that you need a million dollars to retire. Don’t give up on your financial situation. There are still lots of strategies to help you make the most of your financial position and taking advantage of the age pension is one of them. Tip 3. Make Good Choices Just as a healthy diet focuses on good food choices, so you should choose good investment options. Think ‘high yielding dividends’ spiced up by ‘franking credits’ and served with a dish of ‘capital growth‘ on the side. Retirement is a time in your life to make god decisions about your health, about staying fit and thinking long term. That’s the case for your finances as well. Make healthy financial decisions. Tip 4. And give up the (financial) smokes! A key downside of the financial industry focusing so much attention on people needing a million dollars to retire is that it makes people anxious and this in turn prompts many to take risk with their money. Your precious retirement savings are irreplaceable. Don’t put your money into anything you don’t understand and remember retirement is all about generating as much income as you can as safely as possible with some capital growth. Tip 5. Live Like A Millionaire Learn to live off investments just like millionaires do. As John Travolta once said, “I learnt very early how millionaires live. They never spend their capital, just the income it generates, and they always get good advice”. Make sure you know exactly how much money your investments are generating and adjust your spending each year to stay within those limits. That’s the key of making sure you never run out of money. Tip 6. ‘Slide’ Into Retirement These days, few people just stop working at age 65. Find a new mojo and slide your way into retirement. Find a side hustle, volunteer or turn a hobby into a business - you just need to find your groove. If you can monetarize these activities or find a way of making some additional income from them, it will take some of the financial pressure off you in retirement and help make your money last that much longer. Tip 7. Families – Love ‘Em and Leave ‘Em While families can be a great source of happiness as you grow older, they can be a massive financial burden. Never speak to your family or love ones about your financial situation except in the most general terms and never allow your savings to become part of regular conversations. This only encourages others to think you will always have a few dollars to spare to help them out. That may or may not be the case, but it should be your decision. It should not be your family pushing you to give them cash. Tip 8. Sexually transmitted poverty It’s surprising how often love lives and financial affairs become intertwined. If you are living alone, step up and make sure you take control of your financial situation and make sound decisions about what you do with your money. Be wary of romantic involvements and the scams that can come with them. Everything from sending money to on-line romantic encounters to backing your partner in a new business deal. Make sure you do your homework and look upon any money you give someone as a gift and not a loan. Tip 9. Build your “Escape Hatch”. Make sure you have a strategy outlining what you will do if all goes wrong. Again remember, you will always qualify for the age pension and you can’t lose it, its indexed for inflation and it will last as long as you do. Tip 10. Most importantly enjoy your retirement Make good decisions to maximise your income in retirement and then get on with enjoying life. Do not make the mistake of spending all day, every day counting your pennies. There are more important things to do in life than that. Written by Patricia Howard Patricia Howard, author of The No-Regrets Guide to Retirement: how to live well, invest wisely and make your money last (Wiley), is a licenced Australian financial adviser. She has a Commerce Degree from the University of Melbourne, holds her own Australian Financial Services Licence and recently passed the FASEA Financial Adviser exam. Find out more at <a href="http://www.patriciahoward.com.au">www.patriciahoward.com.au</a> Note this is general advice only and you should seek advice specific to your circumstances.

Retirement Life

Your retirement nest egg needs to last longer than you think

Although the number you’ve got in your current retirement nest egg is looking pretty solid, new research by the Actuaries Institute suggests that rapidly increasing lifespans means that age 100 should be the new target for retirees. Currently life expectancy tables used by many financial planners use 87 for women, but the Actuaries Institute says that people should consider “how much this will increase between now and the time someone retiring today reaches their 80s or 90s”. “A healthy, well-educated female entering retirement today, who had an affluent career and enjoys a good quality of housing, is just as likely to live beyond age 100 as she is to die before age 80,” it says. Actuary Jim Hennington, author of the research note and a member of the Actuaries Institute Retirement Incomes Working Group, says that there is an uncertainty as to how long today’s retirees would live. “Everyone wants to make sure their savings last,” he said to <a href="https://www.news.com.au/finance/money/heres-how-long-your-retirement-nest-egg-needs-to-last/news-story/ac98be3e3826056ad0cafbbd5f736675">news.com.au</a>. “Fifty per cent of us live longer than our life expectancy. Some live all the way to age 105 and beyond. “A couple of average health aged 65 and 62 need a plan that lasts until the male is 100 in order that they can be 80 per cent sure their financial plan meets their potential lifespan.” Planning for Prosperity adviser Bob Budreika agreed with the note. “When you say 100 to people they laugh and say ‘nobody in my family has reached that’,” he said. Ideally, you would have enough cash reserves to last you until 100, but if you don’t have this saved up, there are options available including the pension. “It’s not all doom and gloom,” Mr Budreika said.

Money & Banking

How to protect your nest egg

Building up your super and other investment assets to fund your retirement is an essential financial goal for all of us. But what about after you retire? After you cross that line and begin relying on investment income rather than earned income, your financial decisions can have a much more profound effect on your day-to-day lifestyle and your longer term financial wellbeing. Protecting and preserving your retirement income, assets, and estate from the threats of tax, inflation and potential financial crises takes some serious thinking and careful planning. Let’s take a look at some of the big issues you should consider. Preserving capital Deciding where to invest your retirement savings is primarily driven by the dual objectives of generating enough income to live on and making sure your investment capital lasts the distance of a retirement that may be 20 or 30 years — or longer. Balancing these objectives is critical and can be quite daunting. At one extreme, you might choose to stick with high capital security and a predictable income from fixed interest investments. While this can be a “safe” option, it carries the risk of inflation eating into the value of your capital. In a low interest environment, the income returns are also not too flash. At the other end of the scale, you could seek greater income flow from share investments that pay high dividends and have the added bonus of potential capital growth, but this comes with the corresponding risk of market fluctuations. The answer for most people will be somewhere in between, and will depend on many personal and unique factors. There is no one-size-fits-all answer. The important thing is not to become too preoccupied with the income side of the equation: by remaining diligent about the need to protect our capital, we can cope with the demands of funding an adequate retirement lifestyle over the long term. This is where having a financial planner you can trust is so valuable for objectively assessing your situation and needs, and balancing them with a sophisticated strategy that addresses your goals. What about tax? Tax efficiency is an important component of nest egg protection and the tax implications of any investment choice must be considered in making a balanced investment decision. This doesn’t mean that we should blindly make decisions based purely on tax minimisation, but we do need to take tax into account as part of our strategy. In relation to retirement, this may mean considering such things as income stream investments and the benefits of dividend imputation from shares or managed funds. It can even affect decisions made in relation to maintaining or downsizing your home. Again, some informed professional advice can help weigh up the tax issues as part of a holistic strategy. Disaster-proofing your plans Making contingency plans for sudden mishaps is a crucial part of the protection puzzle. While insurance needs will certainly be reduced as family leave the nest and debts decrease, there is still a very strong case for maintaining some level of coverage against death and disability: to provide a legacy to your surviving spouse and children, to cover funeral expenses, and to fund any final legal and tax expenses. Healthcare costs will rise as you age, so private health insurance is also something you should not let lapse. Protecting your estate Beyond your own retirement needs and lifestyle, you may also need to consider how your assets will be best preserved and passed on to the younger generations in your family. Estate planning is an essential component of your overall financial plan, to ensure that: <ul> <li style="font-weight: 400;">wills are properly drawn up,</li> <li style="font-weight: 400;">powers of attorney are put in place to ensure decision-making continuity,</li> <li style="font-weight: 400;">trusts structures are implemented to protect from unnecessary tax liabilities and from misuse of inheritances, and</li> <li style="font-weight: 400;">superannuation and insurances beneficiary arrangements are properly organised to make sure that benefit payouts are made promptly, and are directed in accordance with your wishes.</li> </ul> The professionals you consult about such issues, including your legal adviser and financial planner will play a critical role in helping you cope with what can be a highly complex set of challenges — even for relatively modest estates. Republished with permission of <a href="https://www.wyza.com.au/articles/money/financial-planning/how-to-protect-your-nest-egg.aspx">Wyza.com.au. </a>

Legal

How to handle a wasp infestation

Wasps are common in all regions across Australia. They build nests on buildings away from direct sunlight and cause a lot of damage in the process. While most homeowners might ignore wasps, it is important to appreciate the risk they pose to your home’s occupants and the structure itself. They have an extremely painful sting which contains histamine. This chemical can cause allergic reactions in some people leading to health complications such as anaphylaxis or death. Stings from bees and wasps caused 12,351 admissions and 27 fatalities in Australia. It is for these reasons that you should learn more about <a href="https://www.dawsonspest.com.au/pest-library/bees-wasps">wasp nest removal</a>. This article highlights a few safe techniques of nest removal from your home or business structure. Read on. Identify a wasp infestation It is easy to find out if your home has a wasp infestation but finding a wasp is another matter altogether. These insects try to hide their nests away from sight where they can live undisturbed. You can check under an overhang where wasps stay away from the rain. They can also build under an awning, wood deck, soffit, railing or large tree branch in your compound. If you have noted wasps buzzing around your compound, it is important to call a licensed pest removal technician who has the skills and equipment to do the job. Stay away from a wasp nest If you happen to notice a wasp nest, it is advisable to stay away from it and remove your pets from the area. Many homeowners have ended up in emergency rooms while trying to locate wasp nests and remove them. It is important to note that wasps won’t attack unless they feel threatened. If you agitate them when trying to remove the nest, you will end up badly hurt or worse. To make matters worse, wasps release chemicals that attract others nearby and this can lead to a fatal situation especially if you have kids around. Once you identify a wasp nest, call a licensed wasp nest removal technician who has the prerequisite skills and equipment to do the job safely. Professional wasp removal The best thing about professional nest removal is that the pest control company knows how to handle the situation. They have experience dealing with different wasps in the area and will know which techniques to use. Without such skills, you might end up making things worse and injuring yourself. The nest removal process begins with a thorough inspection of your property, starting with the area where you spotted the nest. The pest control technicians wear protective gear to avoid injuries, and they use eco-friendly chemicals to eliminate the infestation and remove the wasp nest. When dealing with wasps, you need to appreciate that nest removal is not enough, hence the use of pesticides to get rid of the infestation. The best pest control service carries insurance for your protection and protection of their workers and you will enjoy peace of mind when they work. Written by Handyman Authors. Republished with permission of <a href="http://www.handyman.net.au/nest-no-more-how-handle-wasp-infestation">Handyman</a>.

Home & Garden

5 simple things you can do to boost your retirement nest egg

There’s a lot to look forward to about retirement. You will have more time to travel, read and spend time with those you love. You might even take up a new hobby or two. But to truly enjoy this beautiful time in your life, it helps to be financially secure. If you’re nearing retirement age, now is the time to pull out all the financial stops to set yourself up for a stress-free retirement. Here are a few simple steps you can take to boost your retirement nest egg. 1. Get out of debt Taking debts into retirement with you is the last thing you want – so pay off any debts as fast as you can. Work overtime if possible, or delay retirement by a year or two if need be. It might feel like a bit of a hard slog for a while, but paying off debts without regular income will be much harder. Sell items you no longer need and cut down on unnecessary spending. That retirement cake is going to taste so much sweeter knowing you’re in the black. 2. Make extra pre-tax super contributions Your superannuation is your retirement savings plan and the more you look after it while you’re still working, the better it will look after you when the time comes. Consider putting extra money into your super. You can do this by asking your employer to contribute some of your pre-tax salary on your behalf, or you may be able to make a personal contribution if you complete the appropriate paperwork. The current cap is $25,000, including the employer contribution and the new “catch-up” legislation will allow you top up if you missed out – seek advice on details. This is an incredibly tax effective strategy that will boost your super while you save on tax. 3. Make your investments work harder Do you know how well your superannuation investment strategy is performing? If you haven’t paid much attention to this in the past, now is a great time to start. A lot of people prefer to go conservative with their investments later in life, but if you’re still a few years away from retirement you could consider investing in higher growth assets to build your wealth more quickly. The right mix of conservative and high-growth strategies for you may have changed over the years so it’s important to get the right balance for your circumstances. If you like to DIY, visit ASIC’s <a href="https://www.moneysmart.gov.au/tools-and-resources/publications/factsheet-choosing-a-super-strategy">MoneySmart</a> website which explains some investment terminology, but note every fund is different so perhaps seeking professional financial advice before making any changes is wiser. 4. Downsize and reap the benefits If you’re bouncing around in a big family home and no longer need the space, selling it is a great way to free up some extra cash for retirement. If you’re over 65, you may be eligible to put proceeds from the <a href="https://www.moneysmart.gov.au/superannuation-and-retirement/income-sources-in-retirement/selling-the-family-home">sale of your home towards your super</a> up to a maximum of $300,000 per person. This is on top of any other voluntary contributions you may have made. Of course, selling an asset like this can be an emotional decision and is not to be taken lightly, but if it works for you, it could be a great earner. There are a few hoops to jump through with this, so if you’re interested in doing it, read up on the rules via the <a href="https://www.ato.gov.au/Individuals/Super/Growing-your-super/Adding-to-your-super/Downsizing-contributions-into-superannuation/">Australian Tax Office website</a> and get some independent advice. 5. Get professional advice I can’t emphasise enough how important it is to sit down with a qualified financial adviser to ensure you’re setting yourself up for a great retirement. A financial adviser is a bit like a physiotherapist who looks at an athlete’s physical condition, identifies weaknesses and devises a strategy to reach optimum fitness ahead of a big game. A good financial adviser will be able to examine your assets, investments and debts, and develop a plan to put you in a much stronger financial position when you retire. Money certainly can’t buy happiness, but having enough of it allows you to spend less time worrying about your finances and more time focusing on what matters to you. By working hard to grow your nest egg now, you will reap the rewards with a worry-free retirement. The earlier you start, the better. Helen Baker is a licenced Australian financial adviser and author of two books: One Your Own Two Feet – Steady Steps to Women’s Financial Independence and On Your Own Two Feet Divorce – Your Survive and Thrive Financial Guide. Helen is among the one per cent of financial planners who holds a master’s degree in the field. Find out more at <a href="http://www.onyourowntwofeet.com.au">www.onyourowntwofeet.com.au</a> Note this is general advice only and you should seek advice specific to your circumstances.

Retirement Income

What to do when the ‘nest won’t empty’

Having adult children living at home may be a mutually beneficial situation for many of us, but for others it can present real difficulties that threaten relationships and make life unpleasant. This is can be a genuine issue for many of us who are approaching or are in retirement What exactly is a KIPPER? Kids in Parents’ Pockets Eroding Retirement Savings Of course, you never stop being a parent and it is important to be supportive when one of your children, or a member of your family genuinely needs your help. It can be difficult when financial problems or job loss may have led your adult offspring back to your doorstep, or a relationship breakdown may see them suddenly without a home to go to. In some cases they may never have left home in the first place or may be ‘boomerang’ kids who return home several times. Negotiating this situation to ensure you are all ok and your relationship survives the experience is paramount. What are Boomerang kids? Children who leave home and return several times Whatever the reason, it can be an awkward situation if the negatives start outweighing the positives and you still love them (but secretly are ready for them to move out). Of course it is natural to want to provide refuge if your own flesh and blood is in a time of crisis, but setting the boundaries and expectations for how the arrangement will work and how long it will last is often something that is left open ended and without any discussion or agreement. This can lead to tension and misunderstanding and may be ultimately detrimental to both the host and the guest. The situation may even escalate to the point where an adult child is unfairly taking advantage of the hospitality without any financial contribution or even a willingness to help around the home. In extreme cases there may be veiled hostility, lack of respect or even abuse involved. So does a parent in this situation go about administering ‘tough love’ when things go off the rails? If it costs you roughly $150 extra each week to have an adult child living at home that adds up to a whopping $7,800 per year! Realising that it’s OK to say “no” Technically speaking, once children reach adulthood then the parent no longer has an obligation to care for them. Of course in reality it would be unnatural to suddenly give up any sense of care about the relationship, but in the end it is a parent’s right to say whether their child should live with them or not. Setting the ground rules If a decision is made that an adult child is to be allowed to stay in the home then it is of course preferable if some ground rules can be set out in advance. Prevention is always better than cure. It might sound harsh at first, but a written agreement that both parties commit to is completely appropriate. It will provide the clarity that is so vital to the arrangement being workable and it eliminates assumptions, misconceptions and misunderstanding that may occur down the track. 31% of people aged 20–34 have left home and returned Such an agreement should outline the limitations and expectations, including these top 5 tips: 1. The length of stay and what they need to contribute financially during that time (e.g. contribution for rent, food and utilities). 2. The expectations on domestic duties, such as cleaning, cooking and laundry. 3. What happens if something breaks? Will they be allowed to use your car and if so, will their name be added to your car insurance policy? 4. Lifestyle issues, such as rules around friends, dates or visiting partners; cooking, smoking, drinking and music. 5. The consequences of the agreement being broken, such as how much notice is provided for them to vacate. It may seem heavy handed to have a formalised and signed agreement, but it can actually help the relationship on both sides by identifying the practical issues and dealing with them in a cool and objective way, rather than leaving them to chance. It may well be the case that the child has not even considered such issues and they may even appreciate that their contribution to the arrangement has been spelled out. Of course, you never stop being a parent and it is important to be supportive when one of your children genuinely needs your help What if you want them to leave? The bottom line is that it always remains the parent’s right to invite a family member in or ask them to leave. It is also valid for a parent to change their mind and ask someone to leave, even if they had invited them in the first place. Of course it is one thing to know your rights and another to actually take the sometimes difficult step of asking an adult child to leave if co-habitation becomes unworkable. Once a person decides that there is no alternative but to ask the child to leave, then it needs to be done very carefully. Making such a request in the heat of an argument or when one of the parties is not fully attentive will be counterproductive. The best idea is to set aside a specific time to talk when things are calm and without distraction. The request should be made directly and firmly but with calm composure and free from aggression or emotion. A specific and reasonable time frame should be stated and a commitment sought, so that there are no ambiguities or misunderstandings. Mediation is the next step If talking directly with the child does not bring a resolution, then the next step may be to seek independent dispute resolution, which can be provided through various state and territory government agencies. Such services go under different names in each state, such as “Family Dispute Unit”, “Community Justice Centre” or “Mediation Service”. These services offer a great alternative to resolve issues without going to court, if both parties voluntarily choose to attend. They do not provide legally binding rulings or orders, but are designed to help negotiate an agreement in good faith in a safe, neutral and non-biased environment. Legal action is a last resort If mediation does not produce a result then the parent may need to resort to legal action against the child. This may take various forms, depending on the severity and nature of the situation. For example, is the child a tenant, a boarder or a lodger? Have they made threats against the parent? Has any actual harm been perpetrated? The variety of possibilities means that legal advice needs to be sought to determine the best course of action. Once a matter goes to court then a ruling can be applied if your case is successful, such as an 'exclusion order' requiring the child to move out of the home and prohibit them from approaching the property. Acting early can make all the difference As with any family situation, clear and calm communication is the key to success. A little forward planning can eliminate a lot of pain in the future, so taking the time and effort to set up a written agreement is well worth it. It may be difficult or embarrassing to talk about with friends or family about how you are financially supporting an adult child over an extended period of time. However, there is help at hand. If you find the thought of confronting your adult child too traumatic then consider speaking to a psychologist to help you through the process. To find a local psychologist speak to your GP and visit <a href="http://www.psychology.org.au/FaP/">psychology.org.au</a>

Caring

No privacy: Strangers could have been watching your home security camera

If you’ve purchased one of Google’s Nest Cams second-hand, the previous owner might have been watching your movements for months. New claims have found that previous owners of the camera could still use an app to look at footage from the device even after a factory reset had been used. Nest Indoor Cameras linked with the Wink hub device were vulnerable to this issue, with the flaw first raised in Facebook groups for Wink products. The New York Times company Wirecutter did its own testing of the flaw and discovered that the decommissioned Nest Cam Indoor was still viewable via a previously linked Wink hub account. “Instead of a video stream, it was a series of still images snapped every several seconds,” the report read. Google were quick to issue a fix to the devices. “We were recently made aware of an issue affecting some Nest cameras connected to third-party partner services via Works with Nest,” the company said in a statement. “We’ve since rolled out a fix for this issue that will update automatically, so if you own a Nest camera, there’s no need to take any action.” However, it is still unclear how many people were impacted by the breach. This also raises questions as to whether or not Nest Cam streams are vulnerable to other third-party smart home hubs. There is also no data as to how long the bug has been impacting Nest Cam devices.

Technology

How to help adult kids flee the nest

Moving out of home can a big step in your kids’ lives and can often be considered a milestone in transitioning from childhood to adulthood. It is also a good time to have a casual chat with your adult child about how to live as an independent person. This could help with setting expectations about how much you’re willing to help out now and in the future and set healthy boundaries. Here are a few essential tips to help make the transition less stressful for everyone. Choosing the right place For first time movers, choosing the right place to live can be a difficult decision which is why your kids may need some help with this. There are a few different factors that should be considered before deciding, such as; location, cost, sharing a property, or getting their own place with each having their own pros and cons. <ul> <li>Location: Cars can be expensive, so being close to public transport can help with saving some extra cash. </li> <li>Share house: Division of rent and utility costs is a plus for this option however, your kids may want to ask their mates if they want to move in together, rather than starting fresh with strangers.</li> <li>Own place: This option can save your kids the stress of living with new people. However, this can sometimes get lonely and be expensive. Don’t be surprised if your kids end up returning for financial help or come home to raid your kitchen on weekends.</li> </ul> Budgeting Creating a budget is crucial for good financial management both now and in the future. No-one wants any nasty surprises with utility or credit card bills. You should consider having a chat with your kids and mapping out a budget in a spreadsheet or budget planner. It is a great opportunity to create healthy financial habits for the future. Donating unwanted furniture Does your home need a long-awaited refresh? Imagine having a custom-built lounge suited to your specific cushioning requirements! Now that you’re an empty nester, there’s no risk of pizza scraps staining the lounge by careless kids who’s showering habits are questionable. Another plus is saving your kids money by passing on any furniture you no longer need. Home cooking Teaching your kids to cook seven basic meals can give them the tools to maintain health and sustenance while they’re living out of home. This will also help with their budget as leftover food can be used for other meals throughout the week. Chores By moving out, your kids can find some independence, freedom and adventure. But with freedom, comes great responsibility. From now on keeping on top of chores such as cleaning, cooking, laundry, watering plants, and taking bins out will all be part of their daily lives. Don’t forget, it’s not your duty to help complete these things, but it is important that they are aware of these responsibilities. Don’t be surprised if you come to visit and their place isn’t up to your standards. It’s all part of the learning process of transitioning into adulthood. Insurance When moving out, insurance can often be a forgotten piece of the puzzle for young adults. This can be particularly important if your kids have some of your old furniture, television or expensive computer equipment. To save on costs, your adult child should consider shopping around online to get the best deal on contents insurance. Expensive items can be hard to come by at this early stage of adulthood, so every dollar counts. As a parent, it might be tempting to take full control of your kids moving out. However, remember that you are there to help and provide them with support; and if asked, provide more information about how to live independently. Remember, these are just starting points and living independently is usually a learning process that can take some time. So, placing expectations which are too high on your adult kids during this transition period, may add unnecessary stress to all parties involved. Take it one step at a time and let them make some (small) mistakes on their own. Republished with permission of <a href="https://www.wyza.com.au/articles/money/financial-planning/how-to-help-adult-kids-flee-the-nest.aspx">Wyza.com.au.</a>

Retirement Life

Meghan Markle & Prince Harry's Toronto love-nest for sale

As Meghan Markle transitions from her acting career into Kensington Palace, the 36-year-old has said goodbye to her Toronto home with it now on the market. The two-storey house was the location where Prince Harry and Meghan spent most of their early courtship. Meghan shared the home with her two rescue dogs, Bogart and Guy. The home has three bedrooms, two bathrooms and a double garage. Meghan rented the home while filming her TV show Suits and now the owners have listed the property for AU$1.5 million. The house boasts an alfresco area at the back which Meghan’s dogs used to enjoy. For the sale, the house was furnished with a modern look, but it is believed to have looked more homey when Meghan lived there. Scroll through the gallery above to take a look at the property.

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