MoneyBuddy News Catch-Up #1

Young People Clueless When It Comes To Superannuation

According to a recent study undertaken by Rest, nearly 75% of young people have no idea how much super they should be receiving.

The survey of 1,000 people aged 18 to 30 found that a quarter of young people don't even know how many super funds they have.

Forbes Media For Sale

Forbes, the company that produces the magazine with all those billionaire and  celebrity rich lists, has been put up for sale by it's owners. The magazine publisher has received a lot of interest from potential buyers, according to CEO Mike Perlis.

The reason behind the sale? Like many other magazine publishers, Forbes has struggled to deal with the consumer and advertiser shift away from printed publications.

Australians Tipping Like Americans, And We Should Be

According to a study undertaken by the University of Melbourne, Australians are now tipping waitstaff more than ever before. Industry experts have suggested it is time Australia embraced the US style of tipping, especially if further labour market deregulation occurs.

So how much should we be tipping? The normal tip across the US is 15% of the total bill. This includes other services as well as waiters, such as housekeeping, bar service, bellhops, etc.

Australian Dollar Rises

Disappointing American manufacturing data combined with the US Federal Reserve announcing a continuation of stimulus payments, has resulted in a drop in the US Dollar.

The Australian Dollar has risen to 93.79 US cents this morning, up from Friday's closing rate of 93.36 cents. The AUD is expected to further rise to 94 cents US next Monday.

Own Your Own Ghost Town

Seneca, an abandoned goldmining town in California has been put up for sale for only $240,000 Australian Dollars. Yep, a whole town. Although there isn't much left of it now, apart from a run-down old bar, three cabins and some parts of a gold mine, and you'll have to bring your own power supply

It is 4 hectares worth of country though, and still receives a few tourists looking to find gold.

If you are interested, you can find the listing on Craigslist.

World Record Sale For $89 Million Dollar Diamond

A pink diamond the size of a plum was auctioned in Geneva last week for $US83 million.

Bidding for the diamond started at $48 million, and was over in less than 5 minutes.

The winning bidder refused to identify himself, but stated that he had been representing someone who was not present. The diamond went into the auction with an estimated value of $US60 million.

$100,000 Cash Found In 2nd Hand Desk

US resident, Noah Muroff was the lucky man who purchased a second hand desk for $200 on Craigslist only to find it was worth a lot more!

The desk was too big to fit into his office door, which led him to take the top of the desk off, this is when Noah noticed a plastic bag stuffed behind one of the drawers. When he opened it up it was full of cash, $98,000 worth!

Noah returned the cash to the lady he bought it off, who had inherited the money and thought she had lost it years ago. The woman, known only as Patty, was overwhelmed by Noah's honesty and integrity and gave him a handsome reward.

Dick Smith Will Go On Sale (The company, not the man)

The company is set to go public next month, but experts are doubting the value put on the company. Shares will go on sale at $2.20 each, valuing the company at more than $500 million. This is only a year after Woolworths sold the brand for only $20 million.

Experts are warning investors to stay away from the shares, as there is still a lot of work to be done by the retailer, thus heavy investment of revenue back into the company will lead to low cash flow and low dividends paid to any shareholders.

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