Latest news with #Jarratt
Daily Mail
30-04-2025
- Business
- Daily Mail
Aussie wakes up to find $50,000 missing from his super: 'No end to the madness'
An Aussie battler fears he will have to delay his retirement after waking up to find $50,000 gone from his super and investments because of Donald Trump 's tariffs. Brisbane man Peter Jarratt, 69, was all set to retire from his automotive job at the end of 2025, but now seriously doubts will be able to do so. Trump's reciprocal tariffs, which are on a 90-day pause, have caused stock market panic around the world. Mr Jarratt told Yahoo his savings took an enormous hit when the tariffs were first announced at the start of the month. 'I saw close to $50,000 vanish almost overnight from super and investments,' he said. 'Thanks to Trump, I'm facing another year of work to replace what has been lost.' Mr Jarratt, who has been a fleet manager for 15 years, was keen to finish up in December. He said his investments and super have recovered about 50 per cent from their initial fall, but he was worried they wouldn't return completely by the end of the year. 'It just seems to be so volatile and there's no end to the madness,' he said. The 69-year-old said his retirement plans were likely to be set back by another six months at the very least. Superannuation consultant firm Chant West revealed the median super balanced option in Australia fell 1.9 per cent in March and was set to drop a further two per cent in April. It means the average Aussie who is about to retire could be doing so with $13,000 less than they had at the start of the year. But markets have been recovering since the Liberation Day tariffs on April 2 were announced for dozens of countries including Australia. Terry Vogiatzis, from Omura Wealth Advisors, told Daily Mail Australia that younger Aussies shouldn't be worried. 'There has been a fairly sharp recovery after Liberation Day and you have to remember that a lot of super funds hold a lot of different asset classes that may not have been as affected as much,' he said. 'I think diversification would have cushioned the blow. Volatility and the market downturn don't last forever. 'If you're young could see this as a good thing because would you rather a market downturn on $300,000 when you're 45 or would you rather that same drawdown happen on a $1milllion when you're 65?' Moomoo Australia CEO Michael McCarthy warned against getting too excited about the market recovery. 'Strong remarks from China's President Xi Jinping, doubts from corporate America, and weakness in copper and oil markets, suggest the current rally is fuelled by optimism rather than fact,' he said.
CBC
06-04-2025
- Business
- CBC
This old house: Bathurst group finalist to win $50K for repairs to historical property
A New Brunswick organization is hoping to get a big helping hand to restore a heritage site. Doucet Hennessy House in Bathurst is a finalist in the Next Great Save, a competition from the non-profit National Trust for Canada, where the winner gets $50,000 to go toward preserving or renewing a heritage place. Melynda Jarratt, president of the Doucet Hennessy House Association, said there are a lot of deserving heritage sites in Canada, but she still thought it worth entering. "I thought, oh well, it's a chance," she said. "If you don't apply, it's like winning the lotto, right? If you don't buy the ticket, you can't win." Getting chosen felt like graduating from university, said Jarratt. "I threw my hat up in the air!" Doucet Hennessy House is more than 200 years old. The homestead, which sits at the top of a hill on St. Peter Avenue and overlooks the Bay of Chaleur, was home to the Doucet family first and then the Hennessy family. According to the group's submission to the competition, the house was built in 1812 by Charles Doucet, an Acadian. In the early 1900s, the 200 acres were passed on to the Irish-Scottish Hennessy family. Now, the house is used for cultural programming, such as theatre, artist residencies and exhibits. The first phase of the house's restoration is already completed, said Jarratt, but Phase 2 will require some monetary support. The main focus in the past was structural repairs and the exterior, she said, while the second phase is focused more on the inside. Jarratt said winning the $50,000 prize money would allow the group to access different funding streams to help complete the project. She said for most heritage grants, groups need to be able to contribute a small portion of the money to get the money. Even a 10 per cent contribution can add up, she said. "When you've got a $500,000 project, what's 10 per cent? It's 50,000 bucks," said Jarratt. "And it's hard to raise money in Bathurst, and it's hard to raise money in an economically challenged community that's facing many difficulties of its own." Public voting started on Monday and goes until April 17 when the winners are chosen. Along with the grand prize, there are two runner-up prizes of $10,000 and $5,000. The finalists include three in Newfoundland and Labrador, one in Alberta, two in British Columbia, one in Manitoba, one in Nova Scotia, two in Ontario and one in Saskatchewan. The Bathurst project is the only New Brunswick finalist. Phase two of the Doucet Hennessy House project has involved gutting the first floor, which has revealed some 200-year-old ceiling beams, said Jarratt. New wiring and plumbing, new entryways to the rooms, insulation and a wheelchair accessible bathroom still have to be completed. Part of this phase also includes making the house energy efficient, including adding solar energy. "This will open up doors for us that we've been pushing and kicking … to try to get into those funding structures," said Jarratt.
