FoFA. FoWha? What is the Future of Financial Advice and what does it mean for you?

The Federal Government is poised to introduce sweeping changes to the rules that protect investors from unscrupulous financial planners. But these proposed amendments to the Future of Financial Advice (FoFA) reforms have drawn criticism from consumer groups, industry superannuation funds and the federal opposition, who argue the interests of mum and dad investors are being sacrificed to protect big banks […]

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Valentine’s Day: True Romance or the ultimate Scam?

In case you hadn’t noticed today is Valentine’s Day, an entire day dedicated to the worldwide celebration of love. While the marketing ploy as you don’t need a day to tell your partner I love you. Whether you choose to celebrate or not, each year Australians are spending more on their loved ones to mark February 14.  As reported by […]

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Why Frank told his electricity supplier to go jump

“I was with Origin and getting a 14% discount,” writes FiftyUp Club member Frank Ius, pictured. “No notice was given to me that my contract had expired and when I got my next bill I only received a 1% discount. “When I questioned this, their reply was that this is their standard procedure. Well, that day I changed to Click […]

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10 ways to get fit without getting ripped (off)

We’ve had some members ask us to source discounted gym memberships for FiftyUps. We’ll see what we can do, but in the meantime here are our tips for getting fit without paying exorbitant membership fees. 1. Interested in joining a gym but keen to avoid wall-to-wall meatheads? Many gyms offer free trial sessions. Or check out sites like GymLink, where […]

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The end of the Age of Entitlement: What it means for you

“The age of entitlement is over,” declared federal Treasurer Joe Hockey last week. “The age of personal responsibility has begun.” This message from the Federal Government is on high rotation at the moment, used to justify a range of decisions, from refusing assistance to the automotive industry to foreshadowing cuts to the welfare system. What’s the debate likely to mean […]

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Members save big on quality Life Insurance for FiftyUps

“I saved over $80 per month [by switching from] a similar policy with another company,” says FiftyUp Club member Daniel Prokop, 59, who just took up the Life Insurance special offer we’ve negotiated for Australia’s best customers. The product is fully underwritten, with optional trauma and income protection cover, and it’s from 135-year-old provider NobleOak. “NobleOak completed my application over the phone and approved […]

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DEAR MR MURRAY … Here is how to fix our financial system

Beef up consumer protection in the finance industry. Ban banks from wealth management activities. Make product disclosure statements less confusing. These are some of the messages from top economists to David Murray, the former bank boss who is now in charge of the Abbott Government inquiry into Australia’s financial system. Fairfax Media’s BusinessDay asked a panel of experts to nominate […]

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The Swinging 60-, 70- and 80-somethings

The swinging sixties are back, but this time it’s people in their 60s, 70s and beyond who are embracing free love – with potentially dangerous consequences. Older singles must have missed the lecture about safe sex, according to American oncologist Ezekiel Emanuel, who wrote in an op-ed for The New York Times recently: “Combine retirement communities, longer life, unfamiliarity with […]

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How to cut the Federal Budget without cutting the Pension

After a spate of stories about whether the pension could be targeted to find savings for the federal budget, Federal Age Discrimination Commissioner Susan Ryan had a radical suggestion. How about reducing the cost of the pension by keeping older people in the workforce, if they’d prefer to work longer? So we asked Ms Ryan for 10 practical ways we can cut the […]

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