The totally off-topic thread

[drron]

Looks like the Palmer Coolum resort is going under-
OUR VIEW: Sad decline of a once fine resort | Sunshine Coast Daily

What.

 

[rogerkambah]

Just had a cheery message from BUPA. My contribution is being increased by 10.2% on 1 April. Interesting date for contributions to be increased each year.

 

[medhead]

Same day qantas is going to enforce the dress code in lounges.

I think I'm up for a 6.5% increase.

 

[drron]

Time to pay a year in advance.

 

[TheRealTMA]

Time to pay a year in advance.

Yes, did that yesterday. But would I have done better to buy more QAN shares and sell in a year's time?

 

[rogerkambah]

Same day qantas is going to enforce the dress code in lounges.

I think I'm up for a 6.5% increase.

Yes, that is around the stated average, and mine calculates out at about that if I include the govt rebate in the calculation in both the old and new premiums. However my actual out of pocket premium per month (which is what I am interested in) increases by $17.40 from $171.05 to $188.45 or 10.17%.

 

[JohnM]

When I was doing demography at Uni, the lecturer had a pet saying:

"the longer you live, the longer you live"

What he was saying was that your life expectancy increases with age, so it is lower at birth than at say age 75, given that if you are about to turn 75 your life expectancy at birth was probably quite a few years less than 75.

So I take it to mean that your life expectancy at 45 could be lower than at 65.

The technical term that this derives from is called age-specific mortality. It's a fundamental concept to a population biologist or a demographer (basically the same thing). It is all to do with what are called life tables.

To be meaningful, life expectancy - derived from life tables - must always be expressed as: life expectancy at age x. It bears on things as diverse as why, or whether, populations will go extinct or explode, or whether your superannuation will last as long as you do...

 

[TheRealTMA]

The technical term that this derives from is called age-specific mortality. It's a fundamental concept to a population biologist or a demographer (basically the same thing). It is all to do with what are called life tables.

To be meaningful, life expectancy - derived from life tables - must always be expressed as: life expectancy at age x. It bears on things as diverse as why, or whether, populations will go extinct or explode, or whether your superannuation will last as long as you do...

So,using this as a predictive 'science' , should one pay health insurance a year in advance or buy QANTAS shares? Or just use up one's QF Points ASAP or buy Riedels?

 

[JohnM]

So,using this as a predictive 'science' , should one pay health insurance a year in advance or buy QANTAS shares? Or just use up one's QF Points ASAP or buy Riedels?

If your age-specific mortality average for the population is <1 year, the latter - play the odds. If you feel better than the 'average', maybe the former - play the odds. But the real point is that it's not a 'predictive science' for individuals but it can be, in aggregate terms, for populations.

 

[TheRealTMA]

If your age-specific mortality average for the population is <1 year, the latter - play the odds. If you feel better than the 'average', maybe the former - play the odds. But the real point is that it's not a 'predictive science' for individuals but it can be, in aggregate terms, for populations.

Far be it from me to comment, so I leave it to the experts as explained here
https://m.youtube.com/watch?v=ZArgEvK2R1s

 

[medhead]

Yes, that is around the stated average, and mine calculates out at about that if I include the govt rebate in the calculation in both the old and new premiums. However my actual out of pocket premium per month (which is what I am interested in) increases by $17.40 from $171.05 to $188.45 or 10.17%.

Haven't looked at the detail. Just recall hearing the government approved that increase for my health fund. Never thought to consider the interplay of rebates and such. Perhaps I should considering our monthly premium is $346 at the moment.

 

[samh004]

Re: Best Status Run Options - A quick overview!

totally OT but when did you become a Mod Jess?

and congratulations

This happened at the very end of last year.

 

[JohnK]

Re: Best Status Run Options - A quick overview!

maybe it's just the public you hate JohnK

You could be on a winner there!

I might have to consider becoming a hermit as society is getting worse.

 

[QF WP]

I thought the system automatically gave back the dividends if you didn't have to lodge a return. Of course, I do a return for SWMBO anyway, because I don't trust this new new fangled automatic payment thing.

Definitely not automatic - its a user request system. That way, if the taxpayer forgets to claim back, the Govt keeps the 30% corporate tax paid and doesn't have to give the franking credit away.

Here's the form for those that don't need to lodge a standard tax return:
https://www.ato.gov.au/forms/refund-of-franking-credits-for-individuals---application-form-2013-14/

 

[QF WP]

Unfortunately I think you are out of luck.Many comments coming from the Super funds about changing the system so it is fairer.But the real reason is to keep the money in their funds so they can continue getting their billions of dollars fees.

Then there is all the talk about extra taxes for the rich on their super.Those that are really rich dont have super as their main wealth accumulation vehicle-the most you can contribute to super and get the tax concessions is $35000 per year if you are over 50.
Doesn't matter what political party you support they are all talking about "making it fairer".When you analyse what they say there seems to be agreement that those earning over $100,000 are classed as rich.

Session and discussion over lunch with an eminent investment manager yesterday was about the possible outcomes from the Murray Review - he believes the tax free status enjoyed by retirees may be under fire with it going back up to match super funds (15% tax on investment earnings, 10% tax on CGT). Now what is released in a report and subsequently taken up by Governments are usually lowly correlated (as they are usually political suicide)

 

[QF WP]

Grandmother lived to 95 (born in 1900) and mother still alive at 87. I'm going to need a lot of super.

I'm with you - don't forget the inter-gnerational transfer of wealth. My fathers' parents made 99 [grandfather] and 101 [grandmother]. My mothers parents made late 60's / early 70's (but deaths due to smoking related cancers). My father is 83 and mother 77. I think I've got them around for a bit yet.

 

[straitman]

Re: Best Status Run Options - A quick overview!

totally OT but when did you become a Mod Jess?

and congratulations

This happened at the very end of last year.

We also have samh004 as a new mod also.

 

[QF WP]

My fathers' report on my uncle are looking promising. Pathology of bladder showed a 3/4 of an inch growth, so they got it early. Surgeon can't be certain they have everything, so he'll be home a month then start him on chemo to make certain. He's going to my parents house on Friday with return to his Sunshine Coast home Saturday. Good PSA reading so no issues there (where his primary was a number of years ago). Good colour and vitality - was up walking after 2 days.

 

[JessicaTam]

My fathers' report on my uncle are looking promising. Pathology of bladder showed a 3/4 of an inch growth, so they got it early. Surgeon can't be certain they have everything, so he'll be home a month then start him on chemo to make certain. He's going to my parents house on Friday with return to his Sunshine Coast home Saturday. Good PSA reading so no issues there (where his primary was a number of years ago). Good colour and vitality - was up walking after 2 days.

Great news, QF WP.

 

[QF WP]

The technical term that this derives from is called age-specific mortality. It's a fundamental concept to a population biologist or a demographer (basically the same thing). It is all to do with what are called life tables.

and to actuaries (not that I'm one - but I know a couple of them - such exciting lives they lead)

To be meaningful, life expectancy - derived from life tables - must always be expressed as: life expectancy at age x. It bears on things as diverse as why, or whether, populations will go extinct or explode, or whether your superannuation will last as long as you do...

The current life (expectancy) tables used by the Govt for products like account based pensions and annuities is 2005-2007 (used for pensions and annuities purchased from 1 January 2010). They underestimate actual life expectancy as they are historic statistics and do not take into account mortality improvements. There are new ones out for 2010-12, see here: Publications — Australian Government Actuary — Australian Government Actuary. They will replace the previous tables when the Govt decides to make the move...