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  • Luke Bateman earned $400K a year and gambled away every cent | Luke Bateman turns a new page on A…

    Luke Bateman earned $400K a year and gambled away every cent | Luke Bateman turns a new page on A…

    Explore the latest developments concerning Luke Bateman earned.

    Luke Bateman earned $400K a year and gambled away every cent

    During his darkest chapter, things would go missing from Luke Bateman's apartment.

    "My partner would come home from work and be like, 'Where's this?'" the former NRL player-turned-fantasy writer tells Australian Story.

    "I would've taken it to Cash Converters and sold it for cash so I could go and gamble."

    Luke Bateman says in the elite sporting environment gambling was "like breathing". (Australian Story: Tom Hancock)

    It was 2019, and Bateman was at the height of a debilitating gambling addiction so severe he couldn't afford to feed himself. He was a professional NRL player with the Canberra Raiders at the time, earning $400,000 a year.

    Luke Bateman turns a new page on AUSTRALIAN STORY

    From losing everything to finding an unexpected second act through writing and BookTok, tonight’s episode sees Bateman reflect on the setbacks and fresh purpose that helped him turn the page.

    Growing up in Western Queensland, Luke Bateman had just one dream: to play in the NRL. But a crippling gambling addiction cost him everything.

    Luke showed exceptional sporting talent from a young age and by the time he was 12 years old, he’d been signed by the Canberra Raiders.

    But a team bonding session at the local casino when he was 18 marked the start of a devastating gambling addiction that saw him lose hundreds of thousands of dollars.

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    VIDEO: The cost of gambling

    Luke Bateman tells Australian Story books saved him at his lowest ebb when he left the NRL with a $250,000 gambling debt. (Australian Story: Tom Hancock)

    NRL player-turned-fantasy writer Luke Bateman on how books saved him from a devastating gambling addiction and why he’s on a mission to protect others from self-destruction.

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  • The $400k super line that could define how comfortable retirement is | $400,000 superannuation wa…

    The $400k super line that could define how comfortable retirement is | $400,000 superannuation wa…

    Explore the latest developments concerning The $400k super.

    The $400k super line that could define how comfortable retirement is

    SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

    Retirees with a superannuation balance of under $250,000 could exhaust their savings within a decade of comfortable living, something that could have particularly dire consequences for women, new research has found.

    The study from the Monash Centre for Financial Studies suggested that, amid market instability and a rise in both life expectancy and living costs, many retirees were facing difficult choices.

    Associate professor Ummul Ruthbah, one of the authors of Comfort or Collapse: Why Balance Size and Design, Not Just Returns, Decide Retirement, said the report's findings were "sobering".

    $400,000 superannuation warning as Aussie retirees risk 'exhausting' their savings: 'No chance'

    Retirees with less than $250,000 in superannuation face a "high likelihood" of running through their nest egg within a decade if they live a comfortable lifestyle, new research has revealed. Longer life expectancy, higher living costs and market volatility mean many Aussie retirees are now facing difficult choices to ensure they don't outlive their savings.

    But the size of your starting balance isn't the only factor that determines retirement outcomes, new analysis by the Monash Centre for Financial Studies found. Using Capital Market Assumptions, the study found the mix of equities and bonds, and the sequence of market returns in the first years of retirement were also key factors.

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