Superannuation, how mauch less do you get at the moment
Jul 15th 2008, 12:50 am
#1
BE Enthusiast
Thread Starter
Joined: Feb 2006
Location: Perth since 1997
Posts: 590
Superannuation, how mauch less do you get at the moment
is it fair to say that a person retiring at the moment will receive 20% less superannuation payout than his/her counterpart 12 months ago?
Can somebody explain (example), how the current financial situation affects an average retiree in the short and long term? Thanks.
Can somebody explain (example), how the current financial situation affects an average retiree in the short and long term? Thanks.
Jul 15th 2008, 2:29 am
#2
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: Superannuation, how mauch less do you get at the moment
Shares go up and down, most aussies wont get a state pension its means tested so employer/personal super is usually in shares. Super funds last year lost 6% or more, this tax year they have gone down again.
Nobody can predict any market really, shares will always go up and down, your fund has a cash option but they usually only return 4/5% despite that not being the investment rate at the moment.
If shares go up your fund will go up again.
Personally I dont like retirement funds of an entire nation being on the share roller coaster
which is why we bought a investment house to provide for retirement but that will probably go up and down in value too.
Jul 15th 2008, 2:36 am
#3
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Superannuation, how mauch less do you get at the moment
Good move. Superannuation should only be a percentage of your retirement portfolio - along with property, shares and cash.
Jul 15th 2008, 5:24 am
#4
Forum Regular
Joined: Sep 2003
Location: Bayside Brisbane
Posts: 279
Re: Superannuation, how mauch less do you get at the moment
I keeping reading about how people who are retiring this year have lost vast amounts of money on their supers.
I seem to recall on several occasions where the emphasis was to have your pension/super in the growth/high growth funds through your 20'3, 30's and 40's. When you hit your fifties, wind some of it down to a balanced fund and then in the final years before retiring, wind it all to a more stable fund like the cash ones, so that financial occasions like now don't cause your fund to plummet!!!!
I seem to recall on several occasions where the emphasis was to have your pension/super in the growth/high growth funds through your 20'3, 30's and 40's. When you hit your fifties, wind some of it down to a balanced fund and then in the final years before retiring, wind it all to a more stable fund like the cash ones, so that financial occasions like now don't cause your fund to plummet!!!!
