Trixy

The US sneezes and the world gets a cold but we get a new government and it means.. nothing? Funny how the rules change depending on what side of the political divide you support.

110 thousand has gone into our super fund from contributions alone. Most of that time we had NO say as to how it was invested other than to put it all in cash. I wish we had, we might still have 110 thousand instead of 72 thousand. We were advised to have at least some shares. I'll blame Howard's lot for being in charge for when we had losses during his tenure. I'll thank Howard for lower interest rates though, 17% rates were what he inherited. However I do blame Rudd for the 5 thousand dollar super loss of the last two months and for interest rates going up almost half a percent already. Captain of the ship, as I'm told.

bcworld

MPs lengthy summer breaks are pretty well known....are you suggesting that all previous PMs should have been sacked on return to work every February??

The reasons for the banks increases in rates above and beyond the RBA are pretty well publicised.....whether you chose to vote with your feet and move to another bank is up to you.....and in fact Wayne Swan is trying to remove some of the prohibitive fees that prevent people from doing this and has spoken out against the moves by the banks.

BTW Howard presided over market interest rates of 22% during his time as treasurer.

As for super, as I said, if unhappy take some responsibility for your own finances and manage your own fund choices.

And for the record I'm not a labor supported.....i'm pretty ambivolent when it comes to Australian politics....however your position just strikes me as completely unreasonable.

Trixy

10 years of neglect.. wonder how we got single figure interest rates, low recorded unemployment levels and a huge budget surplus? I loathe the super losses but I give Howard credit where it's due, and at least know a Liberal/Coaltion government isn't going to whine and blame and pass buck for their whole term. To be a real government Labour should try governing and quit the excuses. I think they were good as an opposition because all they had to do was wait for the previous government to do something and then whine. Now as Government, Labour is flapping in the wind of their own hot air.

Trixy

bcworld, you obviously are not Australian. Such selective reading you must have too. In Australia only recently (last year) we were able to shift our super money and we have already moved once because of that. Bring on the fees as we do it again. (Until then we were locked in to our companies scheme).

Oh as Prime Minister Howard brought interest rates to the low single figures. he did not pass back double figure rates to Swan (or Rudd).

I have a different opinion, if that strikes you as unreasonable then you need a dictionary. My 'reason' comes from my perceptions and experiences. There is no 'un' about that.

Potato_potato

Howard, himself, often claimed he had absolutely no control over interest rates rises. But then he would take full responsibility when interest rates would go down. And somehow in the process, he seemed to fool people like you for 10 years that this theory was ok.

Thank god the public, in huge numbers, woke up to his lies and hypocrisy.

bcworld

Trixy what does being Australian have to do with it - I pay into a super fund like all other workers in this country and I make an effort to understand how that fund works for me? You obviously don't understand super funds. You are free to make your own investment choices.....if your fund doesn't allow that then change it. Seeing as you clearly believe that the value of your investments should increase month on month regardless of market conditions then maybe you should be invested entirely in cash.....if you were there is no way you could lose $30k is there?

I'm simply suggesting that instead of seeking someone to blame for every up & down in the economy you take a bit more responsbility for your own finances.

asprilla

Sorry Trixy, I didn't mean to be patronising. But I do think you are being a bit naive here.

Of course, a new government can influence an economy, but this takes time. You talk about the share markets and economy being "sensitised" to the new leadership, but what do you actually mean here? I agree that the share market will have adapted very quickly to the new leadership; but this really has a tiny impact on the value of companies. As for the economy becoming "sensitised" - you'll have to explain this one to me....and also, explain to me why you are talking about the economy and the markets in the same sentence too.

I reckon that if kevin rudd increased taxation now, it would take a year or two before the impact on inflation would be seen.

asprilla

Not all of the public!

Potato_potato

If you're close to retiring it's advisable to have your super invested in a "conservative" class - which is mostly cash investments. This way your funds aren't exposed to market volatility.

For the rest of us a more aggressive class would be more suitable as we have enough time to recoup any losses and maximize future gains.

Potato_potato

Apologies, I realise not everyone could be that daft.

longreach

Irrespective of which side of the political fence you sit, interest rates are on the rise and that's the fact that many mortgage holders have to deal with.

For many, and for what ever reason, these increases are causing considerable strain with more of their weekly budget going on their mortgage repayments. And it looks as though we can expect at least another 2 increases in the next few months.

It is therefore more important than ever to make sure your mortgage is structured so that you are paying as little interest as possible... both the rate and the type are critical here.

Too many mortgage holders, either out of loyalty, laziness or lack of knowledge, just carry on with there existing arrangements to their own detriment and to the great advantage to their bank.

asprilla

Sounds to me like you got on the wrong ship!

Trixy

Being Australian has a lot to do with it. Don't kid yourself. An Australian wouldn't have chosen to see a different opinion as being 'unreasonable'. An Australian would've disagreed or agreed. It's our social mores you guys often totally don't get. I wonder if you know how you 'read'.

I never said I expect our funds to go up and up. It's been nearly 15 years, I expected them to level out (at worse) over that time with more not less than was put in. I've been told our contributions need to be invested to return at least two-fold to survive in my old age. I resent the compulsory element of a company fund that promoted investment options and waiting out for downs to become ups, when in reality the numbers speak for themselves. If I take the blame it is because under a super scheme not an honest pension, people who are not constantly watching investment options and who know very little about investment options lose out. Wait until I'm 65 and have bugger all to live off. I hope the government then can cover my fiscal ignorance of years earlier. Is that taking the blame enough? I certainly wouldn't dare blame the system or a Labour government. Hell, why would one blame the system?

Potato_potato

But you're blaming the wrong person for your dilemma. To suggest you would be in a better position today if Rudd wasn't voted in recently is ridiculous and unreasonable.

Also, be thankful you have ANY SUPER to complain about, because you can bet your balls if the Labor Govt hadn't introduced it in 93 your balance would be a big fat ZERO right now.

Liberal doesn't care about people like you. Never has, never will.

bcworld

....that's all pretty childish Trixy. My 'opinion' is that your position on this is unreasonable. I have explained to you why. If I was more Australian would I have just said, "I disagree with you"? How would that be any different?