Along with this raft of legislative change, the Australian Securities and Investments Commission (ASIC) has also introduced new licensing requirements for accountants who work with and advise Self Managed Superannuation Fund (SMSF) Trustees. Only approx. 10% of accountants have complied with these changes to date.
As such if you, as many, consider your accountant would be your 1st port of call for Financial Advice, they will likely advise you, they are unable to provide the information you require & should consult a qualified Financial Adviser / Planner.
This is general advice only and you should seek expert financial advice from a qualified financial adviser before acting on any of the information covered in these topics.
So what do the stats say about ?Millennial's
A ‘Millennial’ is someone who reaches young adulthood in the early 21st century.
So typically they will be born between the years of 1981 and 1996.
Only 51% of millennial's actually think they are millennials
Two-thirds think they are unique
mainly think they are unique because of their use of technology and their music
Seven out of 10 millennials think understanding investments is extremely important
Preparing for the future
83% want to own a home
72% say it is personally important to be a parent
68% say it is personally important to be married
85% think a long-term financial plan is important
83% claim to have a budget
58% say they are conservative investors
56% claim to have a financial adviser
53% trust financial services and 70% trust financial advisers
They expect 16% annual returns from now until retirement
”Risk comes from not knowing what you are doing”. Warren Buffett.