Superannuation Discussion + market volatility

[RooFlyer]

<snip>
My accountant has an interesting theory. When $60 billion is wiped off the stock market where does that money go?

Is that a theory? Boy, do you ever need a new accountant - but I recall that being said before on these pages.

 

[JohnK]

"stock market valuation" does not represent the actual total value of those stocks.

So, it is not "money" in the first place.

Oh dear. How have they managed to fool so many people?

 

[serfty]

Oh dear. How have they managed to fool so many people?

Its marketing.

... Haven't you been across the "Banking and finance" royal commission.

 

[QF WP]

My accountant has an interesting theory. When $60 billion is wiped off the stock market where does that money go?

To the very smart people who shorted the stocks

 

[JohnK]

Its marketing.

... Haven't you been across the "Banking and finance" royal commission.

Have read bits and pieces. No integrity. Like the time 10 years ago when the US government was bailing out the banks and the bank executives were asking if they can use the bailout to pay executive bonuses they missed out on due to the financial crisis. Oh dear is spot on there too.

 

[burmans]

Have read bits and pieces. No integrity. Like the time 10 years ago when the US government was bailing out the banks and the bank executives were asking if they can use the bailout to pay executive bonuses they missed out on due to the financial crisis. Oh dear is spot on there too.

As superficial analysis goes that is a gem.

 

[Denali]

Where do you start if youre thinking about moving Super funds?

 

[VPS]

A very good trustworthy accountant or financial planner. I find my accountant makes a lot more sense than anyone else

 

[Quickstatus]

Where do you start if youre thinking about moving Super funds?

Industry super funds

 

[Denali]

Industry super funds

This is what hubby said over dinner tonight so I gave hubby my password and info and told him to tell me what to do.

According to some sites/articles, my current balance for my age and sex is well above average (above male average as well) so thats good news.

 

[amaroo]

Where do you start if youre thinking about moving Super funds?

Advice, advice, advice, but make sure it's good advice .... depending on circumstances a SMSF could be something that works for you.

 

[Pushka]

Advice, advice, advice, but make sure it's good advice .... depending on circumstances a SMSF could be something that works for you.

Depends on your stage in life. Denali and her husband are at the retirement end. Maybe that means they have the time to be doing this or maybe they’d rather be having fun.

 

[Denali]

Hubby happily retired, Im 50 so still have 5-10yrs to go.

 

[amaroo]

Hubby happily retired, Im 50 so still have 5-10yrs to go.

Most retirees I know fund a pretty decent lifestyle from playing around with their super

 

[Pushka]

Hubby happily retired, Im 50 so still have 5-10yrs to go.

We just pretty much collapsed our SMSF (we’d started in the nineties before they began popular) a few weeks ago and transferred most to HESTA, an industry fund. I’d lost the way a couple of years ago. Such a relief to be honest. Thankfully before the last couple of weeks falls, although HESTA is also down, it has a better balance in investments than I could ever achieve now.

amaroo your partner is an accountant so that makes a big difference.

 

[RB]

We just pretty much collapsed our SMSF (we’d started in the nineties before they began popular) a few weeks ago and transferred most to HESTA, an industry fund. I’d lost the way a couple of years ago. Such a relief to be honest. Thankfully before the last couple of weeks falls, although HESTA is also down, it has a better balance in investments than I could ever achieve now.

amaroo your partner is an accountant so that makes a big difference.

If you were to worry about the changes of the last couple of weeks, a good advisor should have accurately identified your risk profile long ago? A SMSF should give you very strong control of investment balance

 

[amaroo]

amaroo your partner is an accountant so that makes a big difference.

Yeah, but my post was about actual retirees ... not young hipsters like me and the missus

 

[Pushka]

If you were to worry about the changes of the last couple of weeks, a good advisor should have accurately identified your risk profile long ago? A SMSF should give you very strong control of investment balance

Even blue chips were suffering which is what we were mainly invested in - those that paid good dividends with IC. That and a large portion of cash. Interest rates awful. We hadn’t been set up for international shares - NAB just couldn’t seem to get our account set up properly and property opportunity limited for the size of our portfolio.

 

[Quickstatus]

This is what hubby said over dinner tonight so I gave hubby my password and info and told him to tell me what to do.

According to some sites/articles, my current balance for my age and sex is well above average (above male average as well) so thats good news.

The problem with “average” is that half are below average.

What’s the average for male 50?

 

[Pushka]

The problem with “average” is that half are below average.

What’s the average for male 50?

The average super fund amount for women at retirement age is awful.