Author: openjargon

Shares in AMP Ltd (ASX: AMP) spiked sharply in early trade after the company provided a positive earnings update for the first half.

AMP’s first half will trounce last year’s result

The financial services company said in a statement to the ASX that it expected underlying net profit to come in at $170 to $180 million.

This compares to $131 million for the same period last year.

There were several reasons for the upgrade, including a stronger contribution from AMP’s China business, a favourable investment income contribution, and a one-off contribution from the partial sale of assets in a legacy fund.

On the latter, AMP had this to say:

As disclosed on 12 February 2026, AMP’s right to receive carried interest in a legacy fund in which DigitalBridge had sold a 51% interest in remaining assets was subject to certain conditions, including sale of the remaining interest in those assets and regulatory approvals. Further to that announcement, DigitalBridge has chosen to pay a portion of the carried interest to AMP, associated with the sale of the 51% interest, prior to the sale of the remaining interest in the assets. The other sale conditions have been satisfied.

The sale netted AMP about $13 million, and the company said there was the possibility of further payments in the future.

AMP said:

There remains the potential to realise additional carried interest from the sale of the remaining 49% interest in the assets. Entitlement to any further carried interest is subject to conditions, is uncertain and cannot be determined until the sale of the remaining interest.

AMP also said it would recognise a negative revaluation of $12 million in sponsor investments.

AMP shares trading strongly

AMP shares traded as high as $1.89 on the news before settling back to be 2% higher at $1.76.

Over a one-year period, the stock is up 17.8%.

AMP also recently completed its $150 million share buyback, which bought back about 99 million shares at an average price of $1.52.

AMP chair Blair Vernon said re the buyback:

The completion of this Buyback reflects our disciplined approach to capital management, while maintaining a strong and resilient balance sheet. As we focus on driving momentum in our wealth businesses and delivering strong cash generation, we remain committed to returning surplus capital to shareholders.

AMP will announce its half-year results on August 6.

The company is valued at $4.21 billion and is currently paying a 20% franked dividend yield of 2.31%.

The post Why are AMP shares trading higher today? appeared first on The Motley Fool Australia.

More reading

• AMP expects higher 1H26 earnings on China growth
• Buying AMP shares? Here’s the dividend yield you’ll get today
• 5 best ASX 200 financial shares of FY26
• Are AMP shares a good buy for passive income?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Cameron England 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.

If you can pick the right companies, buying into ASX mining shares as the company progresses from explorer to miner can be a lucrative way to invest.

Naturally, picking the right companies to invest in is the key.

I’ve had a look at the reports coming out of broker Shaw and Partners this week, and there are two companies they think could do extremely well.

Let’s see who they like.

Brightstar Resources Ltd (ASX: BTR)

Brightstar shares have not performed well over the past year, sliding just more than 40% to be changing hands for 32 cents.

The company in recent days released a new mineral resource estimate for its Sandstone project, saying the amount of gold contained on a measured and indicated resource basis had more than doubled to 1.1 million ounces.

Overall, the company said it had resources of 4.5 million ounces.

The company also said drilling was ongoing at Sandstone, with four rigs operating.

Brightstar Managing Director Alex Rovira said:

A huge amount of drilling has been completed at the project, so it is encouraging to see the results reflected in this interim MRE update. The result has exceeded expectations for Mineral Resource growth in this first update, with the strategic focus to date on improving the quality of the Mineral Resource ahead of the prefeasibility study and eventual mining development. Importantly, the project now hosts 1.1Moz of Indicated-classified Mineral Resources. This higher confidence is crucial for the delivery of our PFS, and we are targeting further increases in subsequent estimates with drilling underway now at key deposits such as Bull Oak, Indomitable and Two Mile Hill-Shillington.

Shaw and Partners said the project, “in our view, the project suffers from perceptions of uncertainty”.

They added:

Sandstone currently has no mine study, no Reserve and limited measured and indicated resources, at least prior to today. This Resource upgrade could help persuade that Sandstone has a critical mass of gold to justify development.

Shaw and Partners has a price target of $1.23 on Brightstar shares.  

Global Lithium Resources Ltd (ASX: GL1)

Shaw and Partners said GL1’s recent deal to buy a nickel-copper processing plant from IGO Ltd (ASX: IGO)’s Nova division, which it could convert to process lithium ore from its Manna lithium project, was a positive.

They added:

The acquisition will accelerate Manna’s development pathway by leveraging Nova’s commissioned infrastructure rather than GL1 having to construct a standalone processing plant. This will well and truly allow GL1 to capture the forecast 2027/28 lift in lithium demand and position GL1 as a near-term producer.

Shaw and Partners has a price target of $1.75 on GL1 shares compared to 46.5 cents currently.

The post 2 ASX mining project developers which could more than triple in value appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

ASX stocks are a fantastic place to invest for passive income in retirement. But, I’d only choose investments that I’m confident can provide rewarding and resilient payouts.

Not every business can be reliable, partly because of the industry they operate in. Miners, for example, are heavily exposed to movements in resources prices – this can lead to large rises and large declines of resource prices (and dividend payouts).

There are plenty of great dividend options beyond the large ASX blue-chip shares. I’m going to outline two I’d happily invest $15,000 into.

Rural Funds Group (ASX: RFF)

I think Rural Funds is one of the leading real estate investment trusts (REITs) for passive income. The business owns a portfolio of farms across the country, including almonds, macadamias, cattle, vineyards, and cropping.

Having this investment gives Aussies diversification because Rural Funds offers something different to most other ASX dividend shares, and its own portfolio is diversified across various food segments.

Rural Funds recently took the responsible decision to sell some of its farms to improve its debt position, and this is also expected to improve its adjusted funds from operations (AFFO) – that’s the net rental profit.

The business’ FY26 payout of 11.73 cents per unit translates into a distribution yield of 5.3%, which I’d describe as a solid starting yield for retirement. It hasn’t ever reduced its cash payout since it started paying more than a decade ago.

The payout can increase in the future thanks to its built-in rental indexation. Most of the farms have rental increases that are fixed, or linked to inflation, plus market reviews.

Future Generation Global (ASX: FGG)

Another ASX stock I want to highlight is the listed investment company (LIC) Future Generation Global, an investment vehicle that gives exposure to the global share market.

All of the fund managers involved in the LIC work for free so that Future Generation Global can donate 1% of its net assets each year to youth mental charities. The LIC is invested in more than a dozen different funds from different fund managers, giving shareholders exposure to more than 3,000 underlying shares – that’s great diversification!

The business is able to provide investors with a solid dividend thanks to all of the investment returns it has already made over previous years and continues to make.

Future Generation Global recently lifted its FY26 interim dividend by 5% year over year, taking its annualised payout to 8.4 cents per share. This translates into a forward grossed-up dividend yield of around 7%, including franking credits, at the time of writing. I think that’s a wonderful yield for people in retirement. The ASX stock has increased its payout each year since FY19, so it has given investors several years of dividend hikes already, and I expect more in the coming years.

The post How to invest $15,000 for passive income in retirement appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Future Generation Global and Rural Funds Group. 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 positions in and has recommended Rural Funds Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Netwealth Group Ltd (ASX: NWL) share price is in focus after the company reported record funds under administration (FUA) of $135.7 billion, up 20% on last year, and strong quarterly inflows of $8.4 billion.

What did Netwealth report?

• Total FUA grew 20.3% year-on-year to a record $135.7 billion
• June quarter custodial FUA inflows of $8.4 billion, up 11% on the prior period
• Net flows of $3.2 billion for the quarter, supported by new and existing intermediary relationships
• Record Managed Account funds under management (FUM) of $30.5 billion, up 30% on last year
• Number of customer accounts increased by 12.4% year-on-year to 182,276
• EBITDA margin for FY26 expected at approximately 49%

What else do investors need to know?

Netwealth reported market conditions improved in the June quarter, contributing $6.7 billion to FUA. While large outflows from a few ultra-high-net-worth clients affected net flows, these accounts have largely stayed on the platform and continue to contribute to total FUA.

The platform benefited from 75 new intermediary relationships and launched several enhancements, including “Nova”, a generative AI virtual assistant for advisers, new trading features, and upgraded reporting tools. The company also expanded its relationship with Morgan Stanley to provide new platform solutions.

On the regulatory front, Netwealth progressed its RISE governance program, in line with APRA requirements, and kicked off a project to accelerate product development with technology and AI-driven tools.

What’s next for Netwealth?

Netwealth expects to maintain strong profitability and a robust balance sheet. For FY27, the company is targeting FUA net flows between $18 billion and $20 billion—an increase of up to 30%—reflecting ongoing momentum and new growth initiatives.

The company plans continued investment in technology and expects to maintain a solid EBITDA margin of around 47% in FY27, as growth-focused projects ramp up. Netwealth will announce its full-year FY26 results on 26 August 2026.

Netwealth share price snapshot

Over the past 12 months, Netwealth shares have declined 34%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.

View Original Announcement

The post Netwealth delivers record FUA in June 2026 quarter 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 positions in and has recommended Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. 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.

The oil price shot up again this week as hostilities between the US and Iran intensified, raising the question of which Australian companies are best-placed to benefit in a high-oil-price environment.

Oil price trending higher

RBC Capital Markets has this week issued a new research note to its clients, noting that Brent crude rose 23% quarter on quarter to an average of US$96.60 per barrel in the second quarter of 2026.

Looking further out, the broker has actually downgraded its oil price outlook, now expecting Brent to fetch US$80.07 for 2026, down from US$90.99, and US$75.75 per barrel in 2027.

RBC added:

Our steady state (long-term) Brent oil price remains US$80/bbl, reflecting ongoing collateral damage in the Gulf region and a rising call on barrels globally.

For comparison, Brent was trading in a range of about US$55 to US$66 per barrel in the six months before the Iran conflict began in late February.

Australian oil shares in focus

Looking at Australian producers, RBC said its top pick was Woodside Energy Group Ltd (ASX: WDS), “based on its strong longer-term growth profile, and potential to generate more near-term higher priced gas hub sales and LNG trading volumes due to the Middle East conflict”.

They added:

Woodside’s 2Q sales revenue is expected to be supported by higher crude and … commodity pricing, despite production volumes being affected by the Pluto LNG project scheduled turnaround. We expect the volatile pricing environment to create opportunity for relatively high gas hub sales and LNG trading volumes quarter on quarter. Woodside’s production growth outlook remains highly attractive, with Scarborough (Pluto LNG T-2) on stream by the end of 2026, followed by Trion oil in 2028 and Louisiana LNG in 2029.

RBC has a price target of $34.50 on Woodside shares compared to $29.93 currently.

The broker also expects Santos Ltd (ASX: STO) to outperform, saying the company is poised to deliver meaningful production and free cash flow growth from the second half of 2026, assuming its Pikka and Barossa projects start up well.

They added:

Santos 2Q sales revenue growth is supported by higher production volumes from the ramp up of Pikka (full production target 3Q) and Barossa (delayed) and higher commodity pricing more than offsetting slightly lower production volumes at its Cooper Basin and Western Australia gas assets. We expect GLNG LNG sales volume to decline quarter on quarter, and we continue to see GLNG being most at risk from the Domestic Gas Reservation Scheme. Santos free cash flow (FCF) generation has potential to increase materially from 2H 2026. Santos plans to return at least 60% of its all-in FCF to shareholders from 2027.

RBC has a price target of $8 on Santos shares compared to $7.68 currently.

The post Which ASX oil companies does RBC Capital Markets like amidst more Middle East conflict? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Cameron England 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.

Vanguard will pay final distributions (dividends) for its ASX exchange-traded funds (ETFs) today.

Here is a summary of the final distributions that investors will receive on Thursday.

The Vanguard Australian Shares Index ETF (ASX: VAS) will pay a dividend of 48.83 cents per unit.

Vanguard Australian Shares High Yield ETF (ASX: VHY) will pay 40.65 cents per unit.

The Vanguard MSCI Australian Small Companies Index ETF (ASX: VSO) will pay 219.69 cents per unit.

Vanguard Australian Fixed Interest Index ETF (ASX: VAF) will pay a dividend of 53.37 cents per unit.

The Vanguard Australian Property Securities Index ETF (ASX: VAP) will pay 147.02 cents per unit.

Vanguard Ethically Conscious Australian Shares ETF (ASX: VETH) will pay 34.38 cents per unit.

Vanguard MSCI Australian Large Companies Index ETF (ASX: VLC) will pay a dividend of 26.66 cents per unit.

What about ETFs holding international shares?

Vanguard MSCI Index International Shares ETF (ASX: VGS) will pay 81.54 cents per unit in dividends.

The currency-hedged version of VGS, Vanguard MSCI Index International Shares (Hedged) ETF (ASX: VGAD), will pay 293.51 cents per unit.

The Vanguard MSCI International Small Companies Index ETF (ASX: VISM) will pay 322.63 cents per unit.

Vanguard S&P 500 US Shares Index ETF (ASX: V500) will pay 11.45 cents per unit.

Vanguard FTSE Europe Shares ETF (ASX: VEQ) will pay 97.49 cents per unit.

The Vanguard Diversified High Growth Index ETF (ASX: VDHG) will pay 121.56 cents per unit.

Vanguard Ethically Conscious International Shares Index ETF (ASX: VESG) will pay 64.40 cents per unit.

Mega dividends

The two biggest payers on Vanguard’s mid-year schedule of dividends are as follows.

Vanguard Global Minimum Volatility Active ETF (ASX: VMIN) is an actively managed ETF invested in about 200 international shares.

The ETF aims to deliver lower volatility than the FTSE Global All Cap Index (AUD Hedged), before fees.

VMIN ETF will pay a monster dividend of 377.42 cents per unit.

This is a quarterly distribution.

When Vanguard announced its estimated distributions on 26 June, VMIN closed at $64.32 per unit.

So, this mega dividend amounts to an impressive 5.9% dividend yield for the quarter.

VMIN’s unit price has since dropped by the dividend amount, as usual, after going ex-dividend on 1 July.

Vanguard Global Value Equity Active ETF (ASX: VVLU) is also actively managed.

VVLU targets global value stocks drawn mainly from the FTSE Developed All Cap Index and the Russell 3000 Index.

VVLU ETF will pay the largest dollar-amount dividend on Vanguard’s schedule at 619.93 cents per unit.

This is also a quarterly distribution.

On 26 June, VVLU ETF closed at $83.19 per unit.

That means today’s distribution provides an even more impressive dividend yield of 7.5%.

The post Own Vanguard ASX ETFs? It’s dividend payday! appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has positions in Vanguard Msci Index International Shares ETF. 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 recommended Vanguard Australian Shares High Yield ETF and Vanguard Msci Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX healthcare stock EMvision Medical Devices Ltd (ASX: EMV) could be a growth stock about to take off according to a new report from Bell Potter. 

It soared 15% higher yesterday after the company released its quarterly report. 

The company is developing portable brain imaging devices to enable faster stroke diagnosis. 

It is commercialising technology developed from a decade of University of Queensland research. Its flagship emu device is designed for hospital use. Additionally, the First Responder device is a helmet-sized scanner for ambulances, aiming to improve stroke diagnosis before patients reach hospital.

What did the company announce?

Yesterday, EMvision released its quarterly activities report which included: 

• Strong balance sheet position maintained, with cash reserves of $17.1m as at 30 June 2026 and $4.6m in non-dilutive funding remaining under current grant programs.
• Pivotal (Validation) Trial, has surpassed key enrolment milestones, building momentum toward FDA De Novo clearance for EMVision’s emu point-of-care brain scanner. 
• Successful First Responder aeromedical feasibility and usability study with Royal Flying Doctor Service (RFDS) completed, with flight nurses and patients rating the prototype device favourably in real-world operation.

Following the results, the team at Bell Potter provided updated guidance on the ASX healthcare stock. 

Forthcoming engagement with FDA on emu trial

In its market update, EMV advised it is preparing for a pre-submission (Q-Sub) meeting with the FDA. This will cover the proposed claims and performance thresholds required for its De Novo clearance. 

Bell Potter said the outcome of the meeting could be meaningful and set a tone for investor sentiment. 

The primary objective of the pivotal trial is to demonstrate haemorrhage detection sensitivity & specificity at >80%. The inclusion of the ischaemic stroke cohort requires a minor adjustment to the required sample to ensure the sub-cohort meets statistical objectives. Including both types of strokes, is expected to reduce intervention delays and improve patient outcomes, expanding clinical utility from product launch. 

The broker said this inclusion is expected to push out timelines on the result to well into CY27. 

However, the recent publication of the emu study provides independent peer-reviewed validation of the AI foundations underpinning the emu Brain Scanner / First Responder.  Publication should serve to build audience awareness and credibility.

Big upside for ASX healthcare stock 

Following the update, Bell Potter retained its speculative buy recommendation on this ASX healthcare stock. 

It also retained its 12 month price target of $3.15.

From yesterday’s closing price, this indicates a near 80% rise. 

The first of three feasibility studies has concluded successfully, with the aeromedical study with the RFDS showing the First Responder is intuitive, practical and suited to the specific environment.

The Mobile Stroke Unit study is near completion and should be reported on in 1Q27, while the road ambulance study is in the planning stage. These studies are expected to lead to a 510(k) submission over the medium term.

The post This healthcare stock just jumped 15% and experts are tipping a further 80% rise  appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has positions in EMVision Medical Devices. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EMVision Medical Devices. 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.

Echo IQ Ltd (ASX: EIQ) has been one of the fastest-growing stocks on the ASX this year.

Since January, it has risen over 500%. Fortunately for prospective investors, the team at Morgans believes this growth is set to continue. 

Company overview 

EchoIQ develops artificial intelligence for the cardiac diagnostics sector and supplies software to the health fund and insurance sectors. 

It operates through the Houston WeHave Software and Echo IQ segments. 

The Houston WeHave Software segment offers products and services across defence and other sectors. 

The Echo IQ segment focuses on developing artificial intelligence software that aids in predicting Aortic Stenosis heart condition.

In 2026, it has risen more than 500% as investors responded to a series of major commercial milestones. 

This includes its strategic partnership with Pro Medicus, new US market opportunities, a $110 million capital raising, and expanded access to a large cardiovascular imaging dataset to strengthen its AI-powered diagnostic platform. 

The rally has also been fuelled by optimism that these developments could accelerate US commercialisation and establish Echo IQ as a leading player in AI-driven cardiovascular diagnostics. 

Morgans upgrades its outlook 

Yesterday, the team at Morgans released an updated note on this ASX growth stock. 

It said Echo IQ has de-risked the commercial pathway since Morgan’s initiation via a $110m placement at $1.45 per share and a new distribution partnership with Pro Medicus.

HF FDA clearance remains the single biggest re-rating catalyst from here, and while timing has slipped slightly from our expected 4Q26 window, we remain confident on approval and expect feedback imminently. We lift our discounted target price to $1.85 (from $1.30), driven by a medium-term acceleration of revenues. Speculative Buy rating retained.

From yesterday’s closing price of $1.57, this indicates a further upside of nearly 18%. 

Elsewhere, Bell Potter recently tipped further upside for this ASX growth stock. 

It has a price target of $1.75 on Echo IQ shares. 

The broker said Echo IQ is making good progress by developing new products and securing long-term funding.

The broker warned, however, that the share price could experience volatility in coming months for several reasons:

• Revenue growth is expected to be modest over the next two years.
• The company will continue to spend significant cash.
• The share price will likely move based on announcements of new customer wins.

The post This ASX growth stock is up 500% this year and set to keep rising  appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell 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.

For plenty of Australians, turning 60 feels like reaching the finish line and starting retirement.

It’s the age when most people can finally access their superannuation. After decades of work, the money is finally yours.

So why not hand in the resignation letter? Because there’s one detail that’s easy to miss: the Age Pension generally doesn’t begin until age 67. That means if you retire at 60, you’re responsible for funding every single day of the next seven years yourself.

That’s where the maths starts getting interesting.

The seven-year gap

Spend enough time on retirement forums and you’ll quickly find plenty of doom and gloom. “Retirement is dead.” “We’ll all work forever.” “Nobody can afford to stop.”

It’s easy to get caught up in that negativity.

According to the Association of Superannuation Funds of Australia (ASFA), a single person needs around $630,000 in super to enjoy a comfortable retirement.

But there’s an important catch. That figure assumes retirement begins at around Age Pension age.

Retiring at 60 changes the equation dramatically.

Your super suddenly changes direction

Here’s what many people overlook.

The day you stop working isn’t just the day your salary disappears. It’s also the day your employer stops making super contributions.

Until then, your super has been doing two jobs at once. Investment returns are compounding, while your employer keeps adding another 12% of your salary into the account.

Once you retire, that conveyor belt switches off. Instead of filling the bucket, you start emptying it.

ASFA estimates a single retiree needs around $51,000 a year for a comfortable lifestyle.

If you begin retirement with $630,000, that’s more than 8% of your balance withdrawn in the very first year. Repeat that for seven years and your nest egg can look very different by age 67.

Those are also some of the most valuable years for compound returns. Once that capital has been spent, you can’t simply replace it.

Waiting until 67 changes everything

Now flip the scenario. Instead of retiring at 60, you keep working until 67. Your super isn’t shrinking. It’s still receiving employer contributions, while investment returns continue compounding.

Using a simple illustration, a $600,000 super balance earning an average annual return of 6% — alongside ongoing employer contributions — could potentially grow to around $950,000 over seven years. Actual outcomes will vary depending on investment returns, contributions, fees, and market conditions.

That’s an enormous difference. One person reaches 67 with a much smaller balance after drawing down their savings. The other arrives at retirement with a significantly larger portfolio.

That’s the real cost of retiring seven years early.

There is a middle ground

Fortunately, retirement doesn’t have to be all or nothing. A Transition to Retirement Pension (TTR) allows eligible Australians to access part of their super while continuing to work.

That could mean dropping back to three days a week instead of walking away altogether. Your employer is still making super contributions, while your investments continue working in the background.

There’s one catch, though. Many people assume a TTR automatically receives tax-free treatment. It doesn’t. Earnings within a TTR pension are generally taxed at up to 15%. The tax-free treatment usually begins only once you’ve fully retired or reached age 65.

The bottom line

Spreadsheets can tell you how much money you might have. They can’t tell you how much seven extra years in a job you dislike will cost your health or happiness.

For some Australians, retiring at 60 will be entirely achievable. For others, working a little longer could dramatically improve their financial security.

Neither choice is automatically right or wrong.

The important part is having a plan. Retirement isn’t something to drift into. The earlier you understand the trade-offs, the more choices you’ll have when the time finally comes to stop working.

The post Retirement at 60 or 67: The hidden cost most Australians never calculate appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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.

The team at Morgans has been running the rule over a number of ASX shares this week.

Let’s see if it is bullish, bearish, or something in between. Here’s what the broker is saying:

Pro Medicus Ltd (ASX: PME)

Morgans remains positive on this medical imaging technology company after reviewing its financial model. This week, the broker has reaffirmed its accumulate rating and $230.00 price target on Pro Medicus shares. It said:

We have identified an error in the previously published financial summary tables, where a number of figures did not pull through correctly from our underlying model. The error was presentational only. The underlying financial model is unchanged, with no impact on any forecast, assumption or valuation input. No change to our ACCUMULATE rating or A$230.00 DCF-based target price.

ResMed Inc. (ASX: RMD)

The broker has been looking at ResMed’s decision to sell one of its software businesses. Morgans supports the decision and believes ResMed remains well-placed for growth through to FY 2028.

In response, it has retained its buy rating with a $40.97 price target. It explains:

MatrixCare will be divested for US$490m cash (c9x earnings), crystallising a disappointing financial outcome (paid US$750m (25x) in 2018) for a business that expanded software capabilities but delivered modest earnings growth. Strategically, however, we believe the transaction makes sense, as it simplifies the portfolio and retains Brightree and MEDIFOX DAN, while exiting a lower-growth, non-core software business. Importantly, net proceeds will largely be returned to shareholders via an accelerated share repurchase (ASR), which should substantially offset earnings dilution from both the MatrixCare disposal and the recently completed Noctrix acquisition, while FY26 guidance has been reaffirmed. We make modest adjustments to FY26-28 forecasts, with our target price moving to A$40.97 (from A$41.72). BUY.

Worley Ltd (ASX: WOR)

Morgans isn’t feeling as positive on this engineering company. It thinks investors should probably keep their powder dry for the time being due to challenging trading conditions. As a result, it has put a hold rating and $10.80 price target on its shares. It said:

The late June trading update lifted the FY26 Middle East impost to $60m EBITA (from $30-40m) and quantified the 2H FX impact as $50m. Medium term, WOR should see some earnings support from Middle East repair activity and a broader uplift in global upstream hydrocarbon spending driven by renewed energy security concerns. However, consensus already embeds strong growth into FY27 (Visible Alpha EBITA +12% YoY) which is well above industry forecast growth rates. With capex expectations continuing to soften in the key Energy end-market and the order book likely to roll over at the FY26 result, we retain our conservative view. We reduce our EBITA forecasts by 8-9% across our forecast period and cut our target price to $10.80 (from $11.80). HOLD maintained.

The post Buy, hold, sell: Pro Medicus, Worley, and ResMed shares appeared first on The Motley Fool Australia.

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