Market Wrap

The late thirties and forties are the ages when people are generally at their most exposed financially, with mortgages, personal loans, and schools fees all adding up.  ABS figures ¹  show that for couples with children under 5, over 93% have household debt, and that for the same people, the average amount of debt is 2.46 times their annual household income. In both cases these figures represent the highest level of indebtedness of any life stage.

To say that families live this phase of their life on a financial razor’s edge is an understatement, hence the central importance of life insurance during this time.

For more details about this, or if you would like to speak with one of our qualified insurance specialists please contact  IPS Financial Services on 07 5581 3200.

1.     ABS, 4102.0 - Australian Social Trends, March 2009.

Indices:

The Australian All Ordinaries Index has moved up increasing +27 points (or +0.5%) since closing last Friday to 03:00 pm today.

The rest of the world as measured by the MSCI index increased -3 point (or +1.0%) in A$ from closing last Friday to end of trade Thursday.

Have a great weekend,

The Team at IPS