February 12, 2024 Emily Ryan

Remembering that nothing stays the same

 

I’m a child of the 70’s, and for a bit of fun we recently attended a 70’s party.   Apart from the questionable clothes and food choices of our youth (my recommendation is re-visit deviled eggs – pretty good actually!), one thing we laughed about as we were rummaging through old vinyl records was the cost of the compilation album, Ripper.  Released in 1975, providing the latest and greatest from the Skyhooks, Sherbet, ONJ, Donny & Marie Osmond – oh how I could go on – it displayed it’s original Brash’s paper price tag of $4.99!   I repeat $4.99!   So apart from the fact that we’ve since been through cassette tapes, CD’s (technology that was never going to be replaced) and we’ve landed on streaming services, what else has changed:

  • A McDonald’s Big Mac in 1975 cost 65 cents 1 (imagine, if you can, that McDonalds was an exciting new restaurant, not long landed in Australia). Today the same burger will set you back $7.65 2.
  • In 1975 the average house price in Melbourne was $19,800 3. It is $943,725 4
  • A ticket to the Sunbury Music Festive cost $20.00 5 for 3 days in 1975. General admission to Beyond the Valley last year was $389 6 for a 3 day pass.

Looking back on nostalgia of your era (whatever era that may be) is great fun, but life is about looking forwards, not backwards.  Australia’s average life expectancy is 81.2 years for males and 85.3 years for females 7.  As a result, we are retired for decades, not just years.   Not only are we living longer than our parents, we also expect to do more in retirement – perhaps even continue to attend music festivals.

For this very important reason, time invested now can set you on the path to achieve a satisfying retirement, one that continues to enjoy the best life has to offer.  One of Income Solutions core values is knowledge, which we define as “we have a quest to further our knowledge and the knowledge of our clients”.   At the heart of this value lies our monthly “Common Sense Investing” presentation, run free of charge each month, and designed to provide you with the knowledge you need to make informed investment decisions and start to take ownership of your future.  We’d love to help you start this journey – visit https://www.incomesolutions.com.au/event-item/Common-Sense-Investing-Information-Evening/ for more details and to book your spot at our next seminar at 5:30pm on Wednesday 21st February 2024.

 

Written by Alison Adams

 

1 https://www.eatthis.com/big-mac-cost/

2 https://mcdonalds.com.au/mymaccas-rewards

3 https://au.finance.yahoo.com/news/house-cost-australian-cities-in-1975-210000133.html

4 https://www.openagent.com.au/suburb-profiles/melbourne-property-market

5 https://www.onlymelbourne.com.au/sunbury-music-festival-1972-to-1975

6https://www.thatfestivalsite.com/article/Beyond%20The%20Valley%202023%20Ticket%20Prices%20Released

7 https://www.abs.gov.au/statistics/people/population/life-expectancy/latest-release

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