Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Monday, 26 August 2013

Aussie retirement savings to new record highs

From SMH:

"Australia's pool of retirement savings has overtaken the total value of Australian bank deposits, after superannuation assets swelled to $1.62 trillion in the year to June.

Superannuation assets soared by $217 billion, or 15.5 per cent, last financial year as a result of a buoyant sharemarket and growing member contributions, figures from the financial regulator show.

The surge means the super pool now exceeds the $1.6 trillion that households, businesses and others have on deposit in the banking system, an amount that grew by 6 per cent over the financial year.

It comes after a sharemarket rally helped funds post their best returns in 16 years, but it is also a reflection of super's meteoric rise as the main vehicle for household saving. With its concessional tax treatment, super has established itself as the primary way for people to save for their retirement, creating an enormous pool of money that is projected to expand by trillions more in the coming decades."

Surprisingly at some 31.3%, self-managed super assets are now the largest sector.

These trends are important. 

Because of the favourable tax treatment of super, Australians are more inclined to move assets into equities and property, and will become less likely to deposit money in the bank. 

This is particularly the case at today's record low interest rates.