reviewing my super situation.
Current employer based super has fees of a little over 1% so $2500 per annum in fees ( I have a separate military balance) and I'm throwing in the 25k cap PA
I have always been turned off self managed super as I dont want to deal with it but I know theres other options like industry funds or ETF's etc..
Does anyone have any sage words of wisdom?

Throw it all on Bitcoin. I heard it's the future of money and will make you a billionaire.

Have a look at the barefoot invester on the subject.

Self-managed is generally more expensive and best used for specific investment amounts, structures or assets, say, property.

Have a look at Spaceship they got some good investments .

I have a great super plan that has way higher returns for me than any other fund with no risk to me.
If you want to be part of it just let me know and ill pm you my banking details.

cheers

Wherever it goes the day is coming when a letter arrives in the mail from the government telling you they need your superannuation more than you do. They will thank you for your contribution making Australia a stronger and fairer place for all.

I have a idea if you want a quick return head to Las Vegas.it can either go one way or the other."beats waiting around for 20 years"

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Mobydisc said..
Wherever it goes the day is coming when a letter arrives in the mail from the government telling you they need your superannuation more than you do. They will thank you for your contribution making Australia a stronger and fairer place for all.

Most likely when they have run out of assets to sell of to prop up the Future fund for their pensions

If you're paying more than 0.85% in fees then you need to shop around.
Agree with The Barefoot Investor to look to for advice.

You old school people are so funny. Don't even understand the newest trends like wankel spinners and Moneycraft.

Buy the bitcoin. Please. You will be a billionaire if you ever converted it back to actual money which can be used to but things.

Just do it. You don't understand the tech and the blowchain.

Please buy Bitcoin.

Please?

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Pugwash said..
Self-managed is generally more expensive

Please explain?

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albers said..

Pugwash said..
Self-managed is generally more expensive

Please explain?

U have to have an audit done every year like it was a trust. High running cost

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Windpasser said..
You old school people are so funny. Don't even understand the newest trends like wankel spinners and Moneycraft.

Buy the bitcoin. Please. You will be a billionaire if you ever converted it back to actual money which can be used to but things.

Just do it. You don't understand the tech and the blowchain.

Please buy Bitcoin.

Please?

Tempted to buy bitcoin late last year. Lucky I'm lazy. In the meantime I chuck cash into super. Unlucky I'm lazy.

I am serious about the State through the ATO taking our superannuation. If half of the autmation innovations come through, a ton of people are going to lose their jobs. Tax revenues will plummet. Meanwhile demands on social welfare will skyrocket. One day a politician and team of bureaucrats will consider whether they pay the bills to keep a hospital going or raise a levy on the massive amount of cash in super funds.

You can bet your bottom dollar they will turn to taxing as they have done for many decades.

Moby, don't you remember that prior to 2007 you had to pay tax on your super when you withdrew it?

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myusernam said..

albers said..

Pugwash said..
Self-managed is generally more expensive

Please explain?

U have to have an audit done every year like it was a trust. High running cost

it is a trust. whether self-managed, retail, or industry - super funds are managed by a trustee for the benefit of the members. this makes the profit driven conduct of many retail funds even more reprehensible - they ignore their fiduciary obligations as trustees....

industry funds are low fee and high return. most offer members the option to tailor their investments too, so that you have control over how and where your money is invested.

as others have said - go get some advice. see a financial planner (who is not affiliated with any financial institutions).

There's not enough money in the chest to go around, what you expect and what's there when you retire is sheer chance, but we will have another royal commission and do f all again ,

It's way better here then other country's. Using the power of compound interest it's quite easy to be lazy and double your money at 10% I've a mate back home has money in super high risk the fecker got 43% yield last year I've been doing salary sacrifice the past year but am thinking would be better off doing the salary sacrifice fund into a higher return option where are the options in oz ? What do u lot do ??

Super annuation. The biggest white collar money making hoax of all time.

Dont worry about returns. It all smoke and debt ridden leverage mirrors anyway. Your entire retirement plan based on the roulette wheel of the derivative stock market or the ponzi property pyramid that has no basis in economic reality.

Like those carpet adds ....ITS ALL GOTTA GO!!!

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eppo said..
Super annuation. The biggest white collar money making hoax of all time.

Dont worry about returns. It all smoke and debt ridden leverage mirrors anyway. Your entire retirement plan based on the roulette wheel of the derivative stock market or the ponzi property pyramid that has no basis in economic reality.

Like those carpet adds ....ITS ALL GOTTA GO!!!

Errrr... right...

Anyone looking for serious advice would be best ignoring this post.

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Harrow said..
Moby, don't you remember that prior to 2007 you had to pay tax on your super when you withdrew it?

Kind of but not really. I guess this was one of John Howards bribes to the electorate. It must not have worked.

The other thing we need to consider is inflation. If the State does not get its debt under control there is a fair chance they will inflate their way out of it, thereby taxing the savers.

Work sent me a letter after 12 months.

Explained that If I decided to SS, They would match an additional 50%

As i'm only in my mid 30's. I expect to see a few crashes over the next 3 decades. The advantage of adding to your Super balance during times of turmoil is you are taking advantage of significantly reduced asset prices.

My concern is the political risk associated with Super. Our Governments don't mind changing the rules every few years.

There are a heap of well performing industry super funds to choose from so maybe run your funds numbers and see how it compares. As for SMSF unless you've got a healthy amount of cash in there this won't be worth while and definitely don't ever use your super to buy an investment property in like the financial advisor told you (unless you want to see it all disapear and your financial advisor end up with a lofty commission cheque funded by your super).

My personal opinion is that super really is a bit of a hoax, I mean in theory it sounds great but in reality the government is lurking around ready to take it to fund whatever mess they've created and if not there's always inflation to quickly make it worthless. I'm actively keeping an eye on my super and making sure it does well, I'm even considering boosting contributions to keep up with inflation but I absolutely do not see super as "my money". It's just an additional income tax that I may or may not get refunded when or if I ever retire, unless I am able to take that cash and throw it at a stripper it has no intrinsic value to me.

I would really be looking at ways to diversify your retirement assets, putting all your money into super is really just putting all your eggs into one basket.

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Krusty said..
There are a heap of well performing industry super funds to choose from so maybe run your funds numbers and see how it compares. As for SMSF unless you've got a healthy amount of cash in there this won't be worth while and definitely don't ever use your super to buy an investment property in like the financial advisor told you (unless you want to see it all disapear and your financial advisor end up with a lofty commission cheque funded by your super).

My personal opinion is that super really is a bit of a hoax, I mean in theory it sounds great but in reality the government is lurking around ready to take it to fund whatever mess they've created and if not there's always inflation to quickly make it worthless. I'm actively keeping an eye on my super and making sure it does well, I'm even considering boosting contributions to keep up with inflation but I absolutely do not see super as "my money". It's just an additional income tax that I may or may not get refunded when or if I ever retire, unless I am able to take that cash and throw it at a stripper it has no intrinsic value to me.

I would really be looking at ways to diversify your retirement assets, putting all your money into super is really just putting all your eggs into one basket.

So long as you're not invested in cash and/or debt instruments then your Super investment is covered for inflation... Its value will increase with inflation on top of any underlying growth because the asset values will also be inflated.

there are risks associated with any investment, even cash. the greater the return, the greater the risk.

super is not guaranteed, but in the scheme of things it's secure and yields great long-term returns.

the government appropriating super is probably far less likely than the share or real property markets collapsing due to war, recession political upheaval etc.

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stamp said..
there are risks associated with any investment, even cash. the greater the return, the greater the risk.

super is not guaranteed, but in the scheme of things it's secure and yields great long-term returns.

the government appropriating super is probably far less likely than the share or real property markets collapsing due to war, recession political upheaval etc.

Oh boy...someone needs to sit and read their history. What do you think will happen when the stock market does collapse next (led by the collapse of land prices) with leveraged debt in the globally system...and yes history has shown this in turn can lead to war. Do you think the broke government is just going to let you keep your super... the next cyclic crash will also see the collapse of the US as the international trade currency...this is already happening now to be honest.

So if you want serious advice, I wouldn't be listening to anyone who gives advice about super. They are part and parcel of the deluded system that will, soon enough, fall apart.

Keep this post...around the start of 2027...you can pm me with your tail between your legs...your super is anything but safe.

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eppo said..

stamp said..
there are risks associated with any investment, even cash. the greater the return, the greater the risk.

super is not guaranteed, but in the scheme of things it's secure and yields great long-term returns.

the government appropriating super is probably far less likely than the share or real property markets collapsing due to war, recession political upheaval etc.

Oh boy...someone needs to sit and read their history. What do you think will happen when the stock market does collapse next (led by the collapse of land prices) with leveraged debt in the globally system...and yes history has shown this in turn can lead to war. Do you think the broke government is just going to let you keep your super... the next cyclic crash will also see the collapse of the US as the international trade currency...this is already happening now to be honest.

So if you want serious advice, I wouldn't be listening to anyone who gives advice about super. They are part and parcel of the deluded system that will, soon enough, fall apart.

Keep this post...around the start of 2027...you can pm me with your tail between your legs...your super is anything but safe.

???? if and when the stock market collapses then we lose our super. that's what i think will happen. if the govt is broke and needs access to any residuary super held in cash, to fund a war for example, then the govt will most likely find a reason to appropriate it.

what i said is that there are risks with anything.

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eppo said..

stamp said..
there are risks associated with any investment, even cash. the greater the return, the greater the risk.

super is not guaranteed, but in the scheme of things it's secure and yields great long-term returns.

the government appropriating super is probably far less likely than the share or real property markets collapsing due to war, recession political upheaval etc.

Oh boy...someone needs to sit and read their history. What do you think will happen when the stock market does collapse next (led by the collapse of land prices) with leveraged debt in the globally system...and yes history has shown this in turn can lead to war. Do you think the broke government is just going to let you keep your super... the next cyclic crash will also see the collapse of the US as the international trade currency...this is already happening now to be honest.

So if you want serious advice, I wouldn't be listening to anyone who gives advice about super. They are part and parcel of the deluded system that will, soon enough, fall apart.

Keep this post...around the start of 2027...you can pm me with your tail between your legs...your super is anything but safe.

When 60% of the population decides that 40% of the population only got their large super nest egg by being white privileged, greedy environment wreckers they will demand legislation to right the historical wrong and socialise those nest eggs.

Looks like I need a bigger mattress

Stamp has given the most rational comment on this thread so far. Super is just a personal investment with mandatory inputs made on behalf of employees and no mandatory inputs for anyone not drawing a wage. Limits are set on maximum input per year for everyone whether they be an employee drawing a wage or a sole trader not drawing a wage. The funds are private (ie not government) entities, the taxation arrangements for both contributions and withdrawals are however set by the government and they do change. I would urge anyone who is serious about sussing out their super option to seek the assistance of an independent, appropriately licensed financial advisor (as someone has said above) as they are the only people that can legally provide you with the advice you need.

I am not a licensed financial advisor (the wife is), but I can tell you that a general rule of thumb balance for an SMSF to be viable is around $250k, if you've got less it usually goes backwards, but again talk to any good, independent financial advisor. Goverment are really clamping down on SMSF because of misuse and also dodgy advice being provided to people to have a crack and start one up. Krusty has cracking good advice there too, keep an eye on how it's performing.

A lot of the factors in this thread will adversely affect the performance of a super fund, however the government "taking your super" is highly unlikely, but sure eppo, I'll PM you and eat crow in 2027 if it all falls in a heap and "the government takes my super" ............... I'll probably be sleeping in my car though

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Paddles B'mere said..
Stamp has given the most rational comment on this thread so far. Super is just a personal investment with mandatory inputs made on behalf of employees and no mandatory inputs for anyone not drawing a wage. Limits are set on maximum input per year for everyone whether they be an employee drawing a wage or a sole trader not drawing a wage. The funds are private (ie not government) entities, the taxation arrangements for both contributions and withdrawals are however set by the government and they do change. I would urge anyone who is serious about sussing out their super option to seek the assistance of an independent, appropriately licensed financial advisor (as someone has said above) as they are the only people that can legally provide you with the advice you need.

I am not a licensed financial advisor (the wife is), but I can tell you that a general rule of thumb balance for an SMSF to be viable is around $250k, if you've got less it usually goes backwards, but again talk to any good, independent financial advisor. Goverment are really clamping down on SMSF because of misuse and also dodgy advice being provided to people to have a crack and start one up. Krusty has cracking good advice there too, keep an eye on how it's performing.

A lot of the factors in this thread will adversely affect the performance of a super fund, however the government "taking your super" is highly unlikely, but sure eppo, I'll PM you and eat crow in 2027 if it all falls in a heap and "the government takes my super" ............... I'll probably be sleeping in my car though

agree with all this except the bit about needing 250k for an smsf. Fees have steadily dropped on this front and you can now pick up an smsf compliance package including audit for around $1k so an account with as little as $100k is now comparable in terms of fees.

The good thing about an smsf is you can chose your exposures meaning you arent unkowingly or uncontrollably exposed to things like aussie residential property or empty buildings in china etc. Ive even heard of guys putting their smsf funds into bitcoin if that floats your boat. ie maximum flexibility.

Also dont be conned by the industry super funds marketing. their trick for "superior" returns is to invest in illiquid assets like infrastructure projects that arent fluctuating on a daily basis which helps them show a more steady return. Problem is if they ever need to liquidate some of these assets in a timely way it will likely be for less than they have it on their books.

Likewise i dont see our super being directly stolen by government but they will definitley keep tinkering. Caps on withdrawals and mandatory super pension accounts are likely in my opinion to stop the baby boomers blowing the lot and then sucking off the pension till its dry.

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Bara said..

Paddles B'mere said..
Stamp has given the most rational comment on this thread so far. Super is just a personal investment with mandatory inputs made on behalf of employees and no mandatory inputs for anyone not drawing a wage. Limits are set on maximum input per year for everyone whether they be an employee drawing a wage or a sole trader not drawing a wage. The funds are private (ie not government) entities, the taxation arrangements for both contributions and withdrawals are however set by the government and they do change. I would urge anyone who is serious about sussing out their super option to seek the assistance of an independent, appropriately licensed financial advisor (as someone has said above) as they are the only people that can legally provide you with the advice you need.

I am not a licensed financial advisor (the wife is), but I can tell you that a general rule of thumb balance for an SMSF to be viable is around $250k, if you've got less it usually goes backwards, but again talk to any good, independent financial advisor. Goverment are really clamping down on SMSF because of misuse and also dodgy advice being provided to people to have a crack and start one up. Krusty has cracking good advice there too, keep an eye on how it's performing.

A lot of the factors in this thread will adversely affect the performance of a super fund, however the government "taking your super" is highly unlikely, but sure eppo, I'll PM you and eat crow in 2027 if it all falls in a heap and "the government takes my super" ............... I'll probably be sleeping in my car though

agree with all this except the bit about needing 250k for an smsf. Fees have steadily dropped on this front and you can now pick up an smsf compliance package including audit for around $1k so an account with as little as $100k is now comparable in terms of fees.

The good thing about an smsf is you can chose your exposures meaning you arent unkowingly or uncontrollably exposed to things like aussie residential property or empty buildings in china etc. Ive even heard of guys putting their smsf funds into bitcoin if that floats your boat. ie maximum flexibility.

Also dont be conned by the industry super funds marketing. their trick for "superior" returns is to invest in illiquid assets like infrastructure projects that arent fluctuating on a daily basis which helps them show a more steady return. Problem is if they ever need to liquidate some of these assets in a timely way it will likely be for less than they have it on their books.

Likewise i dont see our super being directly stolen by government but they will definitley keep tinkering. Caps on withdrawals and mandatory super pension accounts are likely in my opinion to stop the baby boomers blowing the lot and then sucking off the pension till its dry.

Superannuation investment in infrastructure is a great match of aggregated long-term lending and aggregated long-term returns that doesn't really work for an individual SMSF.