Tell us we did well in this one, please.

Oh we did indeed.

Some of the standouts for example of our financial security index is that Victorians have a very clear picture of retirement and are not just focused on building wealth, they're focused on maintaining their lifestyle, protecting their health and having the peace of mind to enjoy retirement on their own terms.

And that was one in four Victorians said maintaining their current lifestyle was the most important factor in feeling financially secure in retirement compared to 18% nationally.

of course, being as informed as possible is obviously a good thing too when it comes to, well, I guess the risk profile of your super fund.

yes absolutely um and you know another another highlight that we found um was that pleasingly victorians are amongst the most engaged australians when it comes to monitoring and managing their super which was great with nearly half checking their balances at least monthly they're also the most likely australians to seek professional financial advice as well so strong engagement but some room to improve because unfortunately that engagement doesn't always translate into having a clear plan for retirement.

What would you say about the insight on wealth outcomes?

Yeah, well, I mean, first of all, say past performance is no predictor of future performance, whether it's housing or stock markets.

So...

So we can't really make a blanket statement, but I would say you can have a great outcome either way.

And whether renting is a choice that you make consciously as a preference to buying or whether you're in a place that is just not going to be affordable to you and you end up renting as a matter of circumstance, there are great options either way.

But the thing that... is really lacking in Toronto and Vancouver is appropriate family sized rental accommodation.

So as compared to say Montreal or other places, you know, if you think about continental Europe and you're walking through residential neighborhoods, you see a lot of low rise apartments, flex style housing, like duplex, triplex, quads, and so on.

What wisdom would you have for them in terms of the merits to socking away every single penny for that down payment or taking the equivalent amount of money and thinking about investing it for the long term and just saying, out of the gate, I'm going to be a permanent renter?

What would you say in terms of percentages? Like, what are, what are some specifics that we would anchor to about how this, uh, how this trend is unfolding in Canada?

Canada?Sure.

Um, international benchmarks would say that, uh, if you look at the price of purchasing a home relative to your total family's, uh, income, uh, that it, you know, three times income is, is considered affordable.

Anything under three times would be great.

Uh, four times is starting to get into the unaffordable range.

Uh, nine times income is considered impossibly unaffordable, and in Toronto and Vancouver right now, we're in sort of like the 10 to 12 per- uh, times income.

So, so it's just k- really unaffordable on the average.

So there's, it seems like a mismatch in terms of what the consumer wants to buy versus what the investor has got available to sell.