Tradies looking beyond wages to build long-term wealth, research finds
New research from Sharesies shows more Australian tradies are investing for long-term wealth beyond their wages. The trend reflects a shift in how trades workers think about financial security.
Are tradies really investing for long-term wealth beyond their wages?
Relevant to tradies across all trades. Highlights a growing interest in investing and financial planning outside of day-to-day income.
Key takeaways
- Tradies are increasingly looking beyond weekly wages to build long-term financial security.
- Research by Sharesies suggests Australian trades workers are turning to investing.
- The shift signals changing financial attitudes among tradies across the industry.
Related
More than $470,000 in penalties imposed, as finance broking operator sanctioned for third time
The Fair Work Ombudsman won $478,880 in court penalties against two Melbourne companies and their manager. The conduct included systematic exploitation of migrant workers and adverse action. The finance broking operator has now been sanctioned three times.
Why it matters: The case is in finance broking, not the trades, so it has little direct impact. Trade employers who hire migrant workers can still see the Fair Work Ombudsman's enforcement and the penalties for repeat breaches.
Black coal mining investigations find high levels of compliance
The Fair Work Ombudsman's investigations into the black coal mining industry found high levels of compliance. About $8.2 million in rectifications for workers came mainly from employers who self-reported issues.
Why it matters: Mostly relevant to mining, not core trades. Tradies working on mine sites, such as electricians and fitters, may see workplace compliance checks and self-reporting expectations as regulators look at employer pay practices.
Sydney takeaway restaurant operators in court
The Fair Work Ombudsman has started legal action against the operators of a takeaway restaurant in southern Sydney. The alleged breaches affected migrant workers. The article gives no further detail.
Why it matters: This case involves hospitality, not a trade, so it has little direct impact. Tradies who employ migrant workers can treat it as a reminder that the Fair Work Ombudsman enforces workplace laws.