Christmas has come early for the bank’s shareholders with the decision to slightly increase the 2024 dividend – despite a single-digit decline in the net profit and cash earnings.
Beating the market benchmark is never easy, with 72 per cent of Australian actively managed global equity general funds trailing the S&P World Index in the six months to June 30, 2024. Domestic equity funds performed slightly better, albeit against a significantly lower bar set by the S&P/ASX 200 Index.
Technology increasingly no barrier for those in retirement
Older people are embracing technology and the doors it opens. Through COVID, in particular, jumping on social networks and using video chat was a great way for seniors to stay in touch with family and friends.
Now there is a massive increase in senior citizens using their phones for more than just calls and their computers for more than email. The Pew Research Centre has found that the use of smartphones among people older than 65 increased from 13 per cent in 2012 to 65 per cent in 2021.
It’s not just smartphones. While tablet computer use has been falling among those aged up to 65 since 2018, it has been going in the opposite direction for those aged 65 and older, with their usage increasing from 38 per cent to 44 per cent.
Thanks to apps such as the five listed below, they are getting more value out of technology, using it to enhance their health, wellbeing and hobbies.
YNAB: This app helps plan your retirement income and expenses and achieve your financial goals. Most senior citizens need to be careful with their money and budget, and this app sets up your bank accounts and allocates every dollar to a specific purpose. But more than just a budgeting tool, YNAB can help you learn more about how to make the most of your money, as it also offers online workshops, podcasts and blogs to learn more about personal finance.
Audible: There is renewed interest in audiobooks as a way of ‘reading’ while being able to work in the garden, exercise or otherwise keep busy. This app is one of the best resources for audiobooks as it has one of the largest libraries and is backed by Amazon, so it’s both secure and readily available across many different devices. There’s even a 30-day free trial to give it a go before deciding to buy it.
Duolingo: Many retirees like to use their time to learn new skills, and languages are an excellent way of exercising the mind while learning about other cultures. This app is one of the most popular and accessible applications to start learning. There are more than 30 languages such as Spanish, French, German, Japanese and even some novelty ones if you’ve ever wanted to learn the languages of Game of Thrones or Star Trek. You can also set your own goals, track your progress and earn rewards as you learn.
Lumosity: For senior citizens, keeping the mind active is as important as the body, and one of the best ways to do this is to play simple puzzles and games. This app was established to use games to improve cognitive capabilities, so it’s an ideal tool for seniors as well. It features several categories of puzzles and games, and you can get useful insights into your strengths and weaknesses from it.
Meetup: For some people in retirement, staying social can be challenging. That’s where apps such as Meetup can help. It helps you find and join local interest groups and events based on your interests and hobbies. You can also create your own group and host your own events. Meetup is a great way to meet new people, make friends and have fun, no matter how obscure their interests might be.
There really is an app for almost everything these days. You can use them to enhance your hobbies, research new ideas, find a new experience to try and as tools to help you get through your day-to-day routine. Once you’re comfortable using some of these ‘must-try’ apps, try exploring the app store yourself to see what other ways your phone or tablet can enhance your retirement.
