Annette Sampson

What if Australia had a real retirement income system? The super system was legislated in 1992, requiring employers to put aside 3% of employees' wages in super. While that's a long time in dog years, it's not that substantial for savings that are set aside throughout your working life for your retirement. Since it started, compulsory employer contributions have steadily grown to 12% and the total super pool to more than $4.3 trillion. But here's the rub.

Published Buying a property for the first time can be hard enough as it is, let alone with all the myths and misconceptions out there. This week on the Friends With Money podcast, Money's Tom Watson is joined by Emily Wallace, founder and director of buyers agency Wallace Advocates, to shine a light on five major misconceptions that surround the home buying process. Is buying an apartment a smart move? Are all body corporates poorly run? Can breaking into the market really be done?

When you buy a home, the person guiding you through the deal is paid to get the highest price, not the best one for you. In Australia, most properties are sold through real estate agents who charge the seller a commission for their services. Fair enough. It's that agent's job to find a buyer at the maximum possible price. But if you are a buyer, that job is in direct conflict with what you want.