Brian Coothe from Centrelink Financial Information Services gave a most interesting talk about the pitfalls of investing in our retirement years. He said that the present single pension was insufficient to live on with reasonable quality of life and that the situation would almost certainly become worse in the future. Superannuation will not make a significant impact on the problem for about 20 years. Pensioners had been largely ignored in the last Budget, but the government was currently looking at addressing this. He strongly cautioned against seeking investments with large returns. More than 1.5% over the bank rate is too risky. He reminded us of the old adage: “If it looks too good to be true, it probably is.” Brian was very critical of the banks for creating the current sub-prime mortgage crisis. Their behaviour was reminiscent of what had occurred during the dot com crisis. Brian’s talk was followed by a lively question and answer session.

August Meeting School Debate
School  For theAffirmative : Erina High School  
September Meeting  
Mile Ryan  will be giving a talk and presentation  on his experiances in the concrete industry entitled
":Concrete Boots"

October Meeting
John Mulford will be talking about and giving a very interesting slide presentation on
"Shipwrecks of the Central Coast"

November Meeting
Marie Riley will bring us up to date with a thoroughly researched
:"History of the Central Coast"