Brett McFall – Uncommon View #35 – Australia’s Financial Problem Explained In 7-Minutes

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Created by Brett McFall this simple and easy to follow 7-minute, animated video explains the 3 dangerous trends that re happening right now in Australia.

If you live in Australia, then there are 3 big problems facing all of us in the next 10 years when it comes to your employment and your ability to provide for yourself and your family.

The first problem is that debt and baby boomers are strangling our economy.

The national government debt of Australia right now is 6-billion.

This does not include what we owe personally like mortgages, credit cards and car loans.

But the 6-billion equates to a debt of ,000 per citizen.

This is money that must be paid back to investors that have loaned the Australian Government money.

The interest on this debt costs the country .2-billion per month. Around -million a day. Which equates to a brand new primary school every 8-hours.

So, because of having to pay back this debt, there are assets like primary schools which cannot be built.

In short, Australia is living beyond its means.

Now you might think that as long as Australia can pay back the money it owes, then everything will be fine.

However one big problem lies in the way of Australia paying back its debt:

Baby Boomers.

What’s the problem?

Baby boomers are retiring at 800 people per day.

In 1969 there were 7.5 people working for every person over 65.

In 2014, it was 5 people for every person over 65. And by 2050, there will be only 2.7 people working for every person over 65.

Which means?

We have a spiralling debt problem… that is not being paid off… and a work force that is rapidly shrinking in size.

And that means, in order to pay for the debt, taxes will have to increase on a smaller working population.

But that’s not the only problem.

PROBLEM #2 is this: Sources of employment are drying up.

And largely because computers are beginning to impact employment in a major way.

Because of “artificial intelligence” more and more tasks can be done by computer.

Respected futurist, Peter Diamandis, recently named as one of the world’s 50 greatest leaders by Fortune magazine, says this:

“Because of a new technology called “Artificial Intelligence” (AI) – the sort of technology behind Siri, the world is going to change FOREVER.”

He says:

“Artificial intelligence can already do most tasks better than humans. 50 per cent of service jobs could be lost in 10 years.”

“Robots can think better than humans, they can translate and understand 85 languages…
The whole world will have the answers to every question at anytime and anywhere.”

This may sound exciting. However the consequences of such technology will have a major impact on your life.

Unemployment in Australia has increased from 5% to 6.2% in just 3 years. Have the signs of employment drying up, already started?

More alarmingly, it currently takes 75% of unemployed Australians 6-months to find work again. Could you last 6 months without a job?

That brings us to PROBLEM #3

The majority of superannuation funds are too low.

Each retiring Australian requires 5,000 to enjoy a comfortable retirement partly funded by the age pension, according to the Association of Superannuation Funds of Australia.

To be fully self-funded most would need at least twice that amount – -million.

However the average superannuation balance for Australians aged 65 is about 2,000 for men and 8,000 for women.

This leaves a shortfall of over 0,000 per person.

Will you have enough?

The average Australian will live 23 years after the retirement age of 65.

But 4 in 5 people will only have enough money to live on until 75. So most Australians face a 13-year shortfall in retirement funding.

Who pays for this?

The taxpayer.

Of which there are going to be fewer and fewer every year.

So Australia doesn’t have a financial problem.

It has 3 of them.

1. Debt and baby boomers are strangling the economy
2. Sources of employment are drying up
3. Superannuation funds are too low

So what can you do to prepare for the future?

Firstly, share this video with your family and friends. But more importantly, share it you’re your local Federal Minister for Parliament. Tell them you’re not happy with our situation, and ask them what action they are taking on these issues.

Secondly, get educated on the future. Find out what “artificial intelligence” really is. And then let your family and friends know too.

And thirdly, preparation is your best defence.

Start looking for supplemental income.

Evaluate good opportunities to start your own business.

Make sure any business opportunity has low costs, low risks and has a way to use the internet to reach a much bigger market than your local community.

Lastly, if you’d like to know more about this critical issue and about what you can do right now to make sure you’re not a victim to the changes ahead, join the free training at