Just a little feel good story for Australia. Our Prime Minister got married.
Regards to all
Matildagirl
@matildagirl How lovely! Thank you for sharing! Love and commitment is a wonderful thing.
https://edition.cnn.com/2025/12/03/economy/superannuation-australia-retirement-trump
“The Trump administration is looking Down Under for inspiration on how to improve the United States’ retirement savings system.
Australia’s super funds are the fourth-largest retirement savings pool in the world despite the country’s ranking as the 55th largest country by population size, according to JPMorgan Chase.
Australian super funds are major investors in US assets, and Treasury Secretary Scott Bessent spoke at a superannuation summit in Washington, D.C., in February, where he touted the program’s success.”
Our superannuation scheme is compulsory so that every employer has to do it and every employee has a superfund for the money to go to which we can choose. We can also contribute to it with a cap on how much each year.
Young people now working will have a lot of super for their retirement because it is now 12% of wages and investments and compounding interest etc. to add to the total. When I started it had only begun at 3% which slowly grew, when I retired it had gotten to 9% I think.
I added a small inheritance to it so when I retired 11 years ago I had $311,000. I still have $265,000 and have taken out a pension each year plus a couple of lump sums totalling approx $210,000 over that 11 years. I am in a good industry superannuation fund, Industry funds perform better then retails ones run by banks and insurance companies.
My balance would be a bit higher if Putin hadn’t invaded Ukraine and you guys hadn’t voted in Trump, and Elon Musk hadn’t joined in and affected Tesla shares, those events dampened some of the investments and lowered their value. A lot of the investments are in America so we are very very interested in what happens there. You literally affect our retirement plans.
Being over 60 (76) the income derived is tax free so no more tax returns. I also get a part pension from the government as well so live quite comfortably in retirement. We also have free healthcare and subsidies from the government on things like car registration, electricity bills, council rates, phone bills.
Socialism is not a dirty word.
It’s a very good system and would greatly benefit the average American who is never going to be a millionaire/billionaire.
It might be hard to get going though we only have 27 million people you guys have 343 million and compulsory is not a word you guys like.
Regards to all
Matildagirl
With all the angst at the moment in the world naturally we have to see
The 2026 lamb ad.
Regards
Matildagirl
The Government recalled Parliament early after Xmas break and introduced new laws after the Bondi Massacre last month, to introduce a gun buy back scheme similar to the one in 1997 after the Port Arthur Massacre to reduce the number of guns in Aus. Background checks are going to be more rigorous and more frequent. Tighter rules on the importation of guns and limits on how many you can own.
https://www.abc.net.au/news/2026-01-20/hate-laws-poised-to-pass-after-labor-liberal-deal/106248432
Also new laws to ban hate groups have also been introduced after a deal seems to have been reached with the opposition.
Hopefully they will stop another massacre like the one at Bondi which was due to anti semitism.
Regards to all
Matilda girl
What a lesson for the world! Your country acts. You are fortunate.
Today is to be a National day of Mourning for the victims of the Bondi Massacre last month with an official memorial inside the Opera House starting with a minutes silence at 7.01pm the time the shooting started. The Prime Minister, the Leader of the opposition and the Premier of NSW will be speaking.
The opera house will be bathed in light along with other buildings. The request by the Jewish community is for people to do mitzvahs and thousands of Australians are expected to perform acts of kindness on Thursday to commemorate the victims of last month’s Bondi terror attack, as the Jewish tradition of mitzvah spreads across faiths and backgrounds.
The president of the Executive Council of Australian Jewry, Daniel Aghion, said he would be spending the day at a synagogue while also practising a mitzvah, which he described as a “beautiful Jewish tradition”.
Aghion said the overwhelming support for mitzvahs after the Bondi attack had made him “proud of my Jewish faith and proud of Australians”.
“The antidote to exclusion is inclusion,” he said. “One of the beautiful things that can come out of such a terrible event is a way to bring Australians together.
“We as a nation want Australia to be a better place, and with very simple steps and acts of kindness, we can go towards making it one.”
Regards to all
Matildagirl
I just wished to post this here so anyone could have a good tool for fact checking.