joz Posted May 11, 2022 Posted May 11, 2022 Well as my wife and myself are approaching retirement age (a few years) we’ve noticed our super getting a beating. We are both with different but until now we’ll rated-possibly the top Industry super funds. But sheesh feeling the pain. Anyone else here keeping a regular eye on theirs? 1
Darryl Posted May 11, 2022 Posted May 11, 2022 I'm very fortunate to be in a defined benefits fund, so while I don't pick up the highs I also don't lose on the lows. Other than changing to 'conservative' I don't know what else you can do. I'm sure others will pop in. 1
awayward Posted May 11, 2022 Posted May 11, 2022 (edited) I monitor mine probably monthly, and have for a decade or more. Everyone's situation is different but I think it is very important to change your super investment plan as you get older and closer to retirement, perhaps reducing your risk so your loss is minimized when shares perform badly, there will always be negative years, it is part of the investment cycle, when they occur can be very impactful if near retirement. Edited May 11, 2022 by awayward 1
Mendes Posted May 11, 2022 Posted May 11, 2022 We just have to ride it out @joz, it's not like we will withdraw the lot in one hit. The minute it recovers change the mix to a more conservative weighting, helps to sleep better 2
joz Posted May 11, 2022 Author Posted May 11, 2022 (edited) 20 minutes ago, Mendes said: We just have to ride it out @joz, it's not like we will withdraw the lot in one hit. The minute it recovers change the mix to a more conservative weighting, helps to sleep better Neither of us are on anything to aggressive so feel less like we still have some years before needing to change it Still a few years away from having to actually use it and fortunately still enjoying my work. But the bride is feeling gutted. She changed providers after her previous provider received a dud rating. We decided to go with the best rated at the time. But hers has taken a much bigger hit. In all honesty it was watching the news last night reporting on the stock market that made us check again and noticed the quite big drop. But as I try to reassure her she’s still not a happy camper. Edited May 11, 2022 by joz 1
Jeddie Posted May 11, 2022 Posted May 11, 2022 Remember Super is a long term investment. There will be good years and bad years. Hopefully more good than bad. 1
t_mike Posted May 11, 2022 Posted May 11, 2022 History shows us that whenever the stock market takes a sudden beating, it recovers most of that like a whiplash. It then settles to something close to true value, as the bulls and day traders sit around licking their wounds. War > oil prices > inflation are the cause, it won't last forever. 3
GregWormald Posted May 11, 2022 Posted May 11, 2022 55 minutes ago, t_mike said: History shows us that whenever the stock market takes a sudden beating, it recovers most of that like a whiplash. It then settles to something close to true value, as the bulls and day traders sit around licking their wounds. War > oil prices > inflation are the cause, it won't last forever. Yup, this. My super is well down since the war in Ukraine but gave me results in excess of 10% per annum for the last 5 years. If it gets any worse I may even qualify for an aged pension again! 1
MattyW Posted May 11, 2022 Posted May 11, 2022 I’m feeling lucky that I sold off all my shares on the ASX 2 weeks ago. Was getting worried and decided to pay off all debts instead. Prepare for the worst and hope for the best. Super though….. That’ll recover in time. If I think the market has hit rock bottom though I may repurchase a few of them.
LogicprObe Posted May 11, 2022 Posted May 11, 2022 Meanwhile, the cocaine sniffing, BMW driving, managers of your super funds keep getting paid the big bucks!!! Thanks, Paul Keating!............for taking 20% of our wages to give us less than 10% super!
aussievintage Posted May 11, 2022 Posted May 11, 2022 9 hours ago, joz said: Well as my wife and myself are approaching retirement age (a few years) we’ve noticed our super getting a beating. We are both with different but until now we’ll rated-possibly the top Industry super funds. But sheesh feeling the pain. Anyone else here keeping a regular eye on theirs? Yes, I expect everyones' investments are doing the same. Still, the average earnings over a period of years is way ahead of keeping it a bank. It's painfull, but hang in there. 3 hours ago, GregWormald said: If it gets any worse I may even qualify for an aged pension again! If it means I might eventually get to claim some pension before I go, I will count that as a small silver lining 1
eman Posted May 11, 2022 Posted May 11, 2022 Sold the land after everything else went in the bushfires and chucked the money into super. Maybe I should check it. 1
Cloth Ears Posted May 11, 2022 Posted May 11, 2022 10 hours ago, LogicprObe said: Meanwhile, the cocaine sniffing, BMW driving, managers of your super funds keep getting paid the big bucks!!! Thanks, Paul Keating!............for taking 20% of our wages to give us less than 10% super! Where do you get those figures? And if you're so worried, why didn't you manage it yourself? It's for those who have no idea what to do - to give them something to retire with (and to take the burden off the current taxpayer). I think we're nearly up to as many people 'retired' as we have in the job market - if most of them were on pensions, we'd still be paying 60% tax rate... 4
sloper Posted May 11, 2022 Posted May 11, 2022 Hello l have a self managed fund so have control over my investments. Made a few dollers the last 12mths lost a few the last couple of weeks. Overall its up. The Superfund owns a Classic Australian muscle car thats in storage. Should make a killing on it if l dont end up keeping it. Been thinking of investing in grain growers this week, the Ukraine was one of the biggest grain growers. Cant see much coming from there this year. l also have plan B, C and D regards Bruce 4
eman Posted May 12, 2022 Posted May 12, 2022 Something yellow on TV has been shouting nonsensical things about Super.
ArthurDent Posted May 12, 2022 Posted May 12, 2022 1 hour ago, eman said: Something yellow on TV has been shouting nonsensical things about Super. And nonsensical things about everything else as well. Not that worried about the short term ups and downs of super, long term it will recover and continue to grow. 2
LogicprObe Posted May 12, 2022 Posted May 12, 2022 11 hours ago, Cloth Ears said: Where do you get those figures? And if you're so worried, why didn't you manage it yourself? It's for those who have no idea what to do - to give them something to retire with (and to take the burden off the current taxpayer). I think we're nearly up to as many people 'retired' as we have in the job market - if most of them were on pensions, we'd still be paying 60% tax rate... https://www.ppesydney.net/content/uploads/2020/05/Wages-policy-and-the-Accord.pdf
betty boop Posted May 12, 2022 Posted May 12, 2022 (edited) On 11/5/2022 at 11:36 AM, joz said: Anyone else here keeping a regular eye on theirs? hey joz, mine for some years didnt do that much but was really surprised to be honest with last couple of years ! super impressed actually.. interested what the latest is for this year...am with australian super.. have started plumbing a bit more into ..feed the fire hopefully doesnt go crashing now ps they have a published graph on returns over the years ... balanced is about 20% ! Edited May 12, 2022 by betty boop 3
Andythiing Posted May 12, 2022 Posted May 12, 2022 Take all your money out and invest in a nice pair of speakers 1 1
Cloth Ears Posted May 13, 2022 Posted May 13, 2022 14 hours ago, LogicprObe said: https://www.ppesydney.net/content/uploads/2020/05/Wages-policy-and-the-Accord.pdf "taking 20% of our wages to give us less than 10% super" doesn't rate a mention, as far as I can see. Considering this was published in 1991 (well before the super contribution reached 9%) I think you might be reading a lot of out of date figures. As far as I can recall, only one wage rise was sacrificed, and that was the initial 3% rise back in 1983. 1
t_mike Posted May 13, 2022 Posted May 13, 2022 8 minutes ago, Cloth Ears said: As far as I can recall, only one wage rise was sacrificed, and that was the initial 3% rise back in 1983. NSW public servants are mandated a maximum of 2.5% wage rise per year. From that they take out the super contribution, which takes the wage rise to a little over 2%. They have been going backwards in real terms for some years now, all this done by a liberal government. It's no wonder they're all starting industrial action.
LogicprObe Posted May 13, 2022 Posted May 13, 2022 8 hours ago, t_mike said: NSW public servants are mandated a maximum of 2.5% wage rise per year. From that they take out the super contribution, which takes the wage rise to a little over 2%. They have been going backwards in real terms for some years now, all this done by a liberal government. It's no wonder they're all starting industrial action. While in the prvate sector we haven't had a rise for over 11 years. In that time the public servants have had AT LEAST 2.5% compounded over 10 years. That's a helluva lot more than ZERO! 2
Addicted to music Posted May 13, 2022 Posted May 13, 2022 id prefer not to look, never really bothered with super, better to invest in other things, the boss made some instant and smart decisions that im wearing now, in the 5yrs, its leaped passed any gains in super, so im not complaining
joz Posted May 13, 2022 Author Posted May 13, 2022 7 hours ago, Addicted to music said: id prefer not to look, never really bothered with super, better to invest in other things, the boss made some instant and smart decisions that im wearing now, in the 5yrs, its leaped passed any gains in super, so im not complaining If your talking proper which has been great. But depending where you are in you working life a super will be tax free once you retire as opposed to investment housing. 3
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