The totally off-topic thread

[TomVexille]

70? Ye gods, I hope to be done by 65. My plans for swmbo have her working for several years after I retire

Does she know that?

 

[Buzzard]

70? Ye gods, I hope to be done by 65. My plans for swmbo have her working for several years after I retire

I have no intention of waiting that long.

 

[JohnK]

I'm quite eager to retire.

29 years, 10 months to go!

Someone's got to keep the economy going.

If I can survive another 4 years, 7 months then I am close to being done. Unless plans change.

 

[deejo77]

Don't hate me but defined benefit fund....I am counting down to the day i can access it which is currently 55.

 

[Pushka]

Don't hate me but defined benefit fund....I am counting down to the day i can access it which is currently 55.

We have an SMSF which I manage. Every day since 1994 (almost, except during the GFC where I didn't look for months) I have seen the funds there. Look but don't touch. Touching it is really sweet.

I think the days of guaranteed $ for public super funds should be gone. Their salaries and conditions are excellent.

 

[deejo77]

I think the days of guaranteed $ for public super funds should be gone. Their salaries and conditions are excellent.

My fund closed to new members approximately 10yrs ago, I don't believe there are any defined funds left that are open to new members.

Unfortunately being a salary and wage earner I can't use tax minimisation such as family trusts or company to decrease my income and put into a self managed fund.

 

[JessicaTam]

We have an SMSF which I manage. Every day since 1994 (almost, except during the GFC where I didn't look for months) I have seen the funds there. Look but don't touch. Touching it is really sweet.

I think the days of guaranteed $ for public super funds should be gone. Their salaries and conditions are excellent.

I have a defined benefit super. It is also fully funded, so why should it be abolished?

 

[bass_ke]

I just missed out by mere months on a defined benefit fund

 

[medhead]

The real trick for those with a defined benefit fund is to also open an accumulation account for TTR benefits and such like.

 

[JohnM]

I have a defined benefit super. It is also fully funded, so why should it be abolished?

Is it really possible to have a fully-funded defined benefit super fund? How can they be sure that the investment returns will be sufficient to guarantee the benefit? If it were, why would they have almost universally been abolished?

If it is underwritten by the taxpayer or the corporation, then that is not truly a fully-funded model, surely?

 

[Flashback]

penegal, most pleased to hear your news. Well done, it must be a relief for you. Hopefully I can take a page out of your book and follow suit. I'm at the beginning of a long journey now

 

[Pushka]

<snip>.

Unfortunately being a salary and wage earner I can't use tax minimisation such as family trusts or company to decrease my income and put into a self managed fund.

I don't either. But salary sacrifice is usually open to all.

 

[Pushka]

I have a defined benefit super. It is also fully funded, so why should it be abolished?

I guess the issue is who fully funds it. If it grows organically then this is the same as all other funds. So all good. If it needs to be topped up by the monies collected by taxpayers then it's not fully funded.

 

[JohnK]

Here is something I have never seen before.

14 vials of blood for my blood test earlier today! :shock:

 

[Pushka]

Good grief JohnK. That's almost a donation of blood.

 

[JessicaTam]

I guess the issue is who fully funds it. If it grows organically then this is the same as all other funds. So all good. If it needs to be topped up by the monies collected by taxpayers then it's not fully funded.

Employee and employer contributions. I don't believe there are any taxpayer contributions.

 

[JessicaTam]

Here is something I have never seen before.

14 vials of blood for my blood test earlier today! :shock:

Wow, I think my maximum is 5.

 

[Shelf]

Does she know that?

Not as yet, I've been waiting for the right time to tell her

 

[Pushka]

Employee and employer contributions. I don't believe there are any taxpayer contributions.

All good then. It's those funds that are guaranteed when the guarantee top ups are provided by the tax payer that get me antsy especially when our own super funds take a dive and no one is (rightfully) there to make up the difference.

 

[JessicaTam]

I have just finished series 4 of Game of Thrones.

Bring on series 5.