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Are you part of the ‘Grantech’ revolution?

<p class="p3">Forget age old stereotypes, the numbers are showing those of us with a few years of experience under our belts are embracing new technology like never before. In fact, there is such a strong movement that it has been given a name …. ‘Grantech’.</p> <p class="p3">That age old generation gap is quickly closing as grandparents Australia wide are keeping up with their kids and grandkids when it comes to new technology.  </p> <p><strong>Mobiles and tablet use</strong></p> <p>A reported 96% of Australians aged 50+ own a mobile phone and a whopping 90% of those aged 70+ also own a mobile. Benefits comes in many forms with 78% saying it makes them feel safer having a mobile at hand and 72% say it makes them feel more connected to their families.</p> <p>In Australia, smartphone users in this age group have increased by 28% over the past 12 months and are clocked as the fastest growing sector. There has also been a 46% increase over the past year for those aged 65+ regarding tablet use.</p> <p>New research from nbn also reveals the ‘Grantech’ generation are fast on the heels of their grandkids. In fact, older Australian’s are officially some of the fastest growing tech users in the country.</p> <p>Forget the stereotype. We are the ones who are quickly embracing fast broadband and smart devices. The study also shows grandparents are increasingly embracing the internet and video apps to keep in touch with family and friends.</p> <p><strong>Tech savvy grandparents</strong></p> <p>It isn’t surprising that internet use is high with 76% of Aussie grandparents saying they use the internet to connect with their children, 72% staying in touch with other family members and 59% staying connected with grandchildren online.</p> <p>A massive 90% use email to stay in touch with their children, more than half are on Facebook and 35% of tech savvy grandparents use video calling apps such as FaceTime or Skype to keep in-touch with grandkids.</p> <p>This technology burst has proved to be useful with helping lots of us feel more connected and helping us stay in touch with loved ones.</p> <p>A whopping 84% of grandparents stay in touch with family and friends via the internet weekly.</p> <p><iframe width="560" height="315" src="https://www.youtube.com/embed/uHkg3G-0Cro" frameborder="0" allowfullscreen=""></iframe></p> <p><strong>16.4 million Australian’s online every month</strong></p> <p>Mike Farley CEO of WYZA agrees there are a huge amount of tech savvy Australian’s over 50’s with over 100,000 subscribers on www.WYZA and monthly visitors of over 250,000. "The most active visitors are aged 50 to 71 with 24% of them aged 65+.</p> <p>Females represent 56.5% of the audience and 43.5% are male. Our readers are very engaged in everything from travel, finance, insurance, healthcare, entertainment, leisure, retirement properties and special issues for baby boomers. Every month a staggering 16.4 million Australians are online according to Nielsen online ratings and the boomers (50+) make up the largest online demographic 37.4%,” adds Farley.</p> <p class="p4"><strong>How do you use technology to stay in touch with loved ones? Join our conversation below…</strong></p> <p class="p4"><em>Republished with permission of <a href="https://www.wyza.com.au/articles/lifestyle/wyza-life/are-you-part-of-the-%E2%80%98grantech%E2%80%99-revolution.aspx">Wyza.com.au.</a></em></p>

Technology

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How much retirement income do you need?

<p>Ever considered how many years you’ll spend in retirement? If we simply go with the averages and look at life expectancy, then if you are male you can expect to live to 84 and if you are female you can expect to live to 87- and these numbers are on the rise.<br /><br />That’s a long time to be living without any earned income and this makes it vital to consider the kind of income levels you’ll need to generate from your retirement savings. This can then inform a reasonable estimate of how much you need to accumulate before you retire.</p> <p><strong>So where do you start?</strong><br />How much a person or couple needs in retirement is of course highly subjective. It obviously depends on the type of lifestyle you want and how financially independent you want to be.</p> <p>An annual overseas holiday and a lavish lifestyle may be a goal for some, while others will be content with a more restrained and simple approach. The gap between the two can be a big one.<br /><br />While the right answer for you will be a very personal decision, it can be helpful to look at resources which have taken a methodical approach to answer the question.</p> <p>The peak superannuation industry body, the Australian Superannuation Funds Association (ASFA), has attempted to do just that with their well respected ‘Retirement Standard benchmark’.</p> <p><strong>A realistic approach</strong><br />This benchmark attempts to create a well-researched picture of what types of purchases a retired person or couple may need to make to achieve a certain standard of living.</p> <p>Their approach involves getting to the nitty gritty on what a retired person’s budget will need to include. <br /><br />To make the benchmark relevant to different types of retirees, they have come up with two different profiles– one identified as a ‘comfortable’ retirement and the other a ‘modest’ retirement. These terms are defined as follows:</p> <ul> <li>A modest retirement lifestyle is considered better than the Age Pension, but still only able to afford fairly basic activities and occasional luxuries.</li> <li>A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.</li> </ul> <p>Both benchmarks assume that the retirees own their own home outright and are relatively healthy.</p> <p><strong>Keeping it relevant to inflation</strong><br />To make this planning resource as relevant as possible the figures for each retirement profile are updated quarterly and are adjusted for two different ages – 65 and 85.<br /><br />As at the December 2015 quarter the income levels suggested by the ASFA benchmark for a 65-year-old are:</p> <ul> <li>$23,797 for a modest single lifestyle</li> <li>$34,226 for a modest couple lifestyle</li> <li>$43,184 for a comfortable single lifestyle</li> <li>$59,236 for a comfortable couple lifestyle</li> </ul> <p>You can view the benchmark yourself on the <a href="http://www.superannuation.asn.au/resources/retirement-standard">ASFA website</a>. This site also provides a downloadable publication giving detail on exactly what items are included in the projected budgets.<br /><br /><strong>Taking action on solid information</strong><br />As you can imagine, achieving such an annual ongoing income will take a considerable level of retirement savings, combined with any age pension entitlement, in order to achieve it.<br /><br />Each individual or couple will have their own skew on what they need and want in retirement and this may vary above or below the ASFA benchmark. Nonetheless, this attempt to answer an age old question provides a valuable and sobering reference for what is required and provides a platform for you to start seriously considering what you may need to do.<br /><br />Visit the site yourself and talk to a financial planner if you want to review how your super is tracking toward your retirement lifestyle goals.<br /><br />Do you think the ASFA benchmark is on the mark? Let us know in the comments below.</p> <p><em>Republished with permission of <a href="https://www.wyza.com.au/articles/money/financial-planning/how-much-retirement-income-do-you-need.aspx">Wyza.com.au. </a> </em></p>

Retirement Life

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Parenting adult children: The new dynamic

<p>Parents can be protective of children and often have dreams and aspirations for them that children don’t always agree with. On the other hand, a parent’s best intentions can be misconstrued by their children.</p> <p>Sometimes we don’t even know these conflicts exist or we know that challenging the status quo would be futile.</p> <p>But when we do confront these issues, they quite often reveal secrets, insecurities, fears and belief systems that we’ve carried with us our whole lives and kept hidden from our loved ones out of fear of hurting them.</p> <p>Media personality and presenter Jane Caro delved deep into this realm of human experience to reveal the inner machinations of parent-child relationships in the four-part Compass series <em>Mum’s Boy, Dad’s Girl. </em></p> <p>The show followed five brave families as they let Caro into their homes and lives to reveal what makes their relationships tick. It’s a fascinating, sometimes shocking and mostly heart-warming insight into the lives of contemporary Australians.</p> <p>In the first episode that aired, we met 58-year-old Melanie who has fought a lifelong rebellion against her 88-year-old father Warwick who she says she has always seen as “an authoritarian figure”. We also meet Warwick and hear all about his own difficultly trying to raise his rebellious only daughter in a family of four children.</p> <p>Then there’s 65-year-old Helen and her son Brett, aged 34. In later episodes we find out how Brett struggled with his sexuality as a teenager and on coming out to Helen, was surprised to learn that she too had a secret that would rock Brett’s world. It’s a volatile relationship but one that was brought closer when Brett’s father left.</p> <p>Jason, 46, is a seemingly normal father of 18-year-old Patty – protective and concerned, but his experience being a father is changed by his disability. In this story we learn about the challenges he has had to overcome to care for Patty by being a hands-on dad. On the flipside we learn about Patty’s own protectiveness of her dad and the unique friendship between father and daughter forged by overcoming adversity, but increasingly strained by her own search for independence.</p> <p>Denise, 64, and Alex, 31, from Melbourne are hoping the experience of being on the show will help bring them closer together. Denise has found it difficult to make a connection with her son Alex, while Alex has had his own challenges in trying to make his mum be more authentic in their relationship and having to cope with his own mental illness.</p> <p>One of the most gripping stories is that of Val, 49, and James, 29, who have suffered great loss and suffering following the death of Val’s husband and James’ father. We learn about Val’s struggle to raise two children alone, her protectiveness of the family now and her struggle to keep her family together after the tragedy.</p> <p>Caro says while these stories are all unique and different and explore individual relationships on the personal level of each family, they also penetrate into a core experience that is universal in Australian families everywhere.</p> <p>“The feelings that people have towards one another, the uncertainties, the delights, the fears, the conflicts – people are going to want to identify with that very much,” she says. “The triggers to those are unique to all of us but the responses are the things that we all have in common.”</p> <p>While she expected the participants to reveal a lot, Caro was overwhelmed by just how much they revealed during the filming – something which she insists was the result of careful casting and the way in which the participants were interviewed.</p> <p>Despite admitting she “really didn’t know what to expect before making the show” the veteran presenter says she has learned more about parent-child relationships than she ever thought possible.</p> <p>On the list of things, she’s learnt is how strong and the unique the bond between a parent and child can be. “I’ve learnt how powerful that relationship is and how there is an enormous sense of protection from parent to child and child to parent,” says Caro.</p> <p>“One of the big things I picked up from doing the show is that nobody is ordinary, no one is normal or average. Everybody has things to tell you. There is no right or wrong way to do things, there is just your way,” she says.</p> <p>Caro says this rings true as she reflects on her own experience parenting her two daughters. While she says she may not have got everything right as a parent, she is thankful that her daughters, now aged 25 and 28 years old, have turned out to be wonderful people.</p> <p>“I can see the mistakes I made, they weren’t the obvious ones, but I can also see that my daughters have turned out to be lovely people and it’s a delight to be around them,” Caro says. “They probably turned out that way in spite of me rather than because of me.”</p> <p>Caro was amazed by how each party responded to the revelations that were made during filming. “There are so many things that I never expected to experience, to be witness to, that came up,” she says.</p> <p>But while the show reveals the conflicts, insecurities and tensions, we also get to discover the positive interactions and sense of family belonging that make relationships worthwhile says Caro.</p> <p>“You will see many of the relationships evolve, particularly in the case of Warwick and Mel. There is a sense of them really making peace with each other. Melanie is looking after him now, so the power balance has changed and to Warwick’s eternal credit he has the humility and wit to accept that and enjoy it and be proud of Melanie,” she says.</p> <p>One concept that Caro particularly wanted to explore was the idea that different parents respond differently to children of the opposite gender. As the mother of two daughters Caro has often wondered what it would be like to parent a boy – something that she may well get to discover after becoming a grandmother to little Alfie just six months ago.</p> <p>“I’ve always wondered what it would be like to parent a boy. I haven’t noticed any differences in how Alfie is to how my daughters were when they were that age, but he’s only a baby so the verdict is still out on that one. He’s got a strong personality, but so did my daughters when they were that age,” she says.</p> <p>“But from the show what was interesting was how the two father groups were so protective of their daughters, while mothers weren’t so protective. In fact, they wanted desperately for their sons to have a partner, which I found very interesting, “ says Caro.</p> <p>So, what did Caro learn about how life events shape our relationships? She says that James and Val’s tragic loss of a loved one made her realise how bereavement would have an undeniable impact on a family. “Death is a very dramatic event, like a birth of a child and it puts us on the metal and shows us where the cracks are,” says Caro.</p> <p>But as to whether the generation we are born in influences our family relationships, Caro is more sceptical. “I would say after watching how the relationships changed over time that it’s not the times that change us, it’s us that change over time. So I actually think the idea that each generation is different from the proceeding one is rubbish,” she says.</p> <p>“I truly believe that my children have taught me more than I have ever taught them,” she says.</p> <p>So how do we push through these conflicts and have harmonious parent-child relationships? Caro says it’s mainly about forgiveness.</p> <p>“It’s by the ability to forgive one another and oneself and the ability to maintain the relationship – that is the test of it,” she says. And it’s that kind of advice that only a mother could give.</p> <p>Did you watch this hit show? Let us know in the comments below.</p> <p><em>Written by Dominic Bayley. Republished with permission by <a href="https://www.wyza.com.au/articles/lifestyle/relationships/parenting-adult-children-the-new-dynamic.aspx">Wyza.com.au.</a></em></p>

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