If Australia goes into a recession what will most likely happen with interest rates? - A mate was talking and said that they would most likely go down. How does this all work or is there no way to actually judge it?

Happy peak 'fixed rate mortgage cliff' day - for those who celebrate

20 HEATHERLEA DRIVE WHEELERS HILL VIC 3150: 1.45-$1.55, vendor bid $1.75 🙄 - Definitely not under unquoted 🙄, vendors paid $1.905 in 2021, try resell today with a range of $1.45-$1.55, bids get to $1.675, then vendor bid at $1.75, another bid $1.755 & passes in, but of course it’s ... See More not under quoted, bs sales like this that need to be investigated but won’t be

Anyone else have money anxiety - Like most of you (I assume), my wage isn't going up as much as inflation is. Technically speaking, I can still afford some luxuries in life but I find it hard to justify given the rising cost of living/my mortgage. In particular, it worries ... See More me there's no end in sight to the increases and it seems like we might fall off a cliff (enter into a recession) soon if unemployment rises. Even if we do, it might be a stagflation - i.e. the worse of both worlds.

I don't know - things just feel uncomfortable right now. Like there's a weight sat on my shoulders and chest. Want to attend an event? Want to eat out? Want to buy some new clothes? My head says I can technically afford it but my emotions lead me to save up as much as I can just in case.

Anyone else feeling insecure about their financial future? My income to debt ratio is around 4.5

Investments better than a house? - So I’m so unbelievably uneducated when it comes to making money via investments. I’ve always been told a house is the best investment but as a millennial on a 85k a year nursing wage and the current cost of living crisis buying a house ... See More is a little out of my current control.
I will buy a house eventually but just not yet.

What other ways are there to make money via investments? Like index funds/stocks etc.
Something that could eventually help me build some wealth?

Can anyone point me in the right direction?

Has anyone got their vanguard prefill yet? - Feels like I've been waiting forever, really want my return.

What are the signs of the end of a recession then? - Not that I really think we are nearing the end, but everyone has been listing the signs of the beginning of one and its been getting me into a mood (plus potential job loss) so to hold on ... See More to some hope, what are the signs we can look forward to that show a strengthening economy in the future?

Is AMP really that bad? - I'm going through a mortgage broker, and he's strongly recommending AMP because I have no credit history and that's an instant rejection from the other banks apparently. (26m, living at home)

Looking at this sub there seem to be a lot of people that hate ... See More AMP strongly. Is my broker right that they are basically the only option and I'm just screwed? and for a loan on an apartment (\~500k) are they indeed as terrible as everyone is making them out to be?

The government can do more to take the pressure off interest rate hikes, leading economist says

Happy New Financial Year - Power rate resets

Postage cost increase

HECS indexation starts all over again

RBA meeting next week

Happy days

Housing shortage: Why rents in Australian cities are set to keep rising

House prices fall 4.9pc for the year

Why are we not outraged about the retirement age? - I understand that it’s gradually been raised, but why aren’t we outraged about the retirement age being 67? I worry that if they try to raise it even more everyone will just accept it without a fight at all. I ... See More am not condoning rioting and looting or anything like that, but why is this country so placid when it comes to anything the government hands down?

$20bn Rise in Australia's Budget Surplus

Australia's budget surplus has experienced an unexpected boom, reaching a whopping $20 billion. This significant rise is largely due to an increase in tax revenue and a surge in mining profits.

The revised budget estimate for 2022-2023 was initially an underlying cash surplus of $4.2 billion. ... See More However, Treasurer Jim Chalmers stated that the final budget outcome likely surpassed expectations. This surplus represents Australia's first in 15 years.

This surplus was not achieved through mere budgetary "savings" alone. Rather, strong job growth and bumper mining profits played major roles in swelling the country's coffers. High global demand for Australia's iron ore and a steady rise in employment rates significantly contributed to this achievement.

While this surplus is an undeniable victory, it also holds implications for future fiscal management and government strategy. It should be seen as a stepping stone towards forging a stronger financial foundation and a source of funding for new initiative.

The present surplus will not only bolster economic stability, but also allow the government to enhance its policies and services. This includes potentially addressing cost of living pressures, tackling inflation issues, and reducing unemployment.

Facing the uncertainties of the global economic climate, Australia's remarkable budget surplus serves as a safety net and a source of optimism for its economy.

Stuck in UniSuper’s defined benefit: what are the options? -
According to the original PDS when I joined, I had no option to leave once I joined. The current PDS gives the ability to leave within 2 years of joining.


Someone in another Reddit post very helpfully put together a ... See More spreadsheet showing how over a career, in most instances people end up more than a million dollars worse off by being in the DBD rather then the accumulation option.

You can only leave the DBD by leaving the sector, which is so wrong! members should be able to leave because they decide the product is no longer suited to them and not be locked in!!

Issues:
- The name defined benefit is misleading. Most people associate defined benefit with a paid pension that is backed by the employee or government but this is not what the unisuper DBD is…and they can change the rules at anytime about what members are entitled to without members having an option to change funds
Various modelling shows it’s worse off for younger members who stay in the fund for a long time which contradicts the PDS
There is no comparison of accumulation vs defined benefit performance so issues around disclosure and not even historical performance data for accumulation option to be able to make an informed decision
Even with the new super choice legislation, unisuper advocated that members of defined benefit would be except from choice so we can’t leave!

Any advice? Would a class action be appropriate? Has anyone been able to leave outside of the two year window?