The Reliance Worldwide Corporation Ltd (ASX: RWC) share price is in focus after the company announced further steps in its global manufacturing footprint rationalisation. Reliance Worldwide expects a US$9 million annual uplift to group operating earnings by the end of FY27.

What did Reliance Worldwide report?

• Planned closure of brass casting, forging, and machining operations in Moorabbin and Braeside, Victoria, plus smaller sites.
• Expected net annual EBITDA benefit of US$9 million across the group by end FY27.
• One-off net charge of US$100 million to US$110 million in FY26 (excluded from operating earnings).
• Around 85 employees impacted by Australian brass manufacturing closures.
• Transition of APAC brass component supply to third-party Asian vendors in 2025.

What else do investors need to know?

These manufacturing changes follow a steady decline in demand for brass production in Australia. This is due in part to Reliance Worldwide’s investment in automating its Alabama facilities and designing products that use less brass, alongside a strategy to increasingly replace brass with stainless steel.

The company anticipates an adverse EBITDA impact of US$9 million on APAC region results after the closures. However, these are expected to be more than offset by an estimated annual Americas region benefit of US$18 million.

What’s next for Reliance Worldwide?

Reliance Worldwide’s focus moving forward is on sourcing from third-party vendors and ongoing optimisation of its supply chain. The company expects its overall brass requirements to continue declining, supporting a shift towards more cost-effective materials and manufacturing strategies.

Management anticipates these steps will deliver net financial benefits from FY27, with project cash outflows mainly relating to redundancy and asset exit costs, and the bulk of the one-off charges non-cash in nature.

Reliance Worldwide share price snapshot

Over the past 12 months, Reliance Worldwide shares have declined 12%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 4% over the same period.

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The post Reliance Worldwide closes Australian brass sites appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

You do not need a huge amount of money to start investing.

Even $500 can be enough to begin building long-term wealth on the ASX.

The key is to keep things simple. With a smaller amount, investors can either choose a broad exchange traded fund (ETF) or start building positions in high-quality ASX shares over time.

Here are three options that could be worth considering.

iShares S&P 500 ETF (ASX: IVV)

The first option to look at is the iShares S&P 500 ETF.

This fund gives investors exposure to 500 of the largest listed companies in the United States.

That includes many of the world’s strongest businesses across technology, healthcare, finance, consumer goods, communication services, and industrials.

For someone investing $500, this can be a simple way to gain global exposure straight away.

The US share market has been home to many great long-term compounders, and this ETF gives investors access to that market without needing to choose individual shares.

If I were investing my first $500, this would be one of the top options on my list.

Pro Medicus Ltd (ASX: PME)

Another option is Pro Medicus. This healthcare technology company provides medical imaging software to hospitals and radiology groups.

Its Visage platform helps doctors and specialists view, manage, and interpret large volumes of medical images quickly and efficiently.

That may sound like a niche area, but it is an important part of modern healthcare.

Hospitals are producing more imaging data than ever, and they need systems that can handle that complexity without slowing clinicians down. This has worked in Pro Medicus’ favour, with the company consistently winning major contracts with large health networks overseas.

Its shares can be volatile because the company often trades on high expectations. However, for investors with a long-term view, Pro Medicus could be a great buy and hold pick.

Wesfarmers Ltd (ASX: WES)

A third option to consider is Wesfarmers. It is one of Australia’s highest-quality blue-chip companies, owning a collection of well-known businesses, including Bunnings, Kmart, Officeworks, and its chemicals, energy and fertilisers operations.

That gives the company a diversified earnings base across retail and industrial markets.

Bunnings remains one of the strongest retail franchises in Australia, while Kmart has built a powerful position in value-focused retail.

Wesfarmers also has a long track record of disciplined capital allocation, with a willingness to invest in growth, reshape the portfolio, and return capital to shareholders when appropriate.

For investors using $500 to start building a portfolio, Wesfarmers could be a high-quality individual share to consider.

The post Where to invest $500 on the ASX right now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Pro Medicus. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers and iShares S&P 500 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus, Wesfarmers, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Your 60s are a turning point in your life where the priority for your superannuation and your finances needs to switch from growth to preservation.

After all, at the age of 61, you’re just four years from the average Australian retirement age and six years from potentially receiving the Age Pension payment. 

The question is, do you know exactly how much you have in your super, and exactly how much money you need to fund your retirement when you decide to stop working.

Here’s a rundown of what the average Aussie has at age 61, and what you actually need to retire comfortably.

What is the average superannuation balance at age 61?

There isn’t an exact figure for the average superannuation balance at age 61, but the Association of Superannuation Funds of Australia (ASFA) has a good guideline.

ASFA’s data shows that at age 60 to 64, the average Australian male has around $395,852 in their superannuation. Meanwhile, the average 60 to 64 year old female has less, at approximately $313,360.

How does your balance compare to the average Aussie the same age?

What does a comfortable retirement look like?

ASFA defines a comfortable retirement as being able to maintain a good standard of living above and beyond the Age Pension. 

It assumes you’ll have top-level private health insurance, own a good brand of car, and do regular leisure activities. 

It allocates funds to set aside to build an emergency fund, for home repairs or renovations. And perhaps even go for the occasional meal out, and an annual domestic trip.

How much will that cost me?

According to ASFA, a comfortable retirement for Australians aged 65 to 84 years old is expected to cost around $54,840 per year for single Aussies. It is expected to cost roughly $77,375 per year for a couple. 

These figures also assume that you’ll be entitled to receive a part Age Pension payment once you reach age 67.

That means ASFA’s data indicates that by age 67, single Australians need a superannuation balance of approximately $640,000. And couples should have closer to $730,000.

How do I know if I’m on the right track?

Unfortunately, at up to $395,852, the average superannuation balance at age 61 falls short of what Aussies at the same age actually need in order to reach the retirement lifestyle they want.

I’ve crunched the numbers and it turns out that in order to reach the superannuation balance needed by age 67, at age 61 you’d need closer to $519,000 in your super.

That’s significantly higher than the average balance for both men and women the same age.

How can I bridge the gap between my average balance and what I actually need?

At age 61, it’s not too late to catch up.

The first thing to do is check that your super fund is performing well and your risk profile is appropriate for your age. 

Next, you’ll need to focus your attention on making extra contributions however you can. Individuals can make concessional (before-tax) super contributions, such as salary sacrificing, taxed at a reduced rate and up to an annual cap. You can also make after-tax payments within your annual limits. 

It also makes sense to check in with Government contribution rules. There are several rules and co-contribution rules you might be eligible for, depending on your personal circumstances. Every cent counts when it comes to compound growth!

The post Average superannuation balance for 61 year olds in 2026. How does yours compare? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.