Re: Share the pain
 

Surely there are some of this red tape that we need to keep?

http://mobile.abc.net.au/news/2014-0...ial-ad/5471088

My super fund is doing crap on its own. It doesn't need help with that.

Re: Share the pain
 

This is a bad idea but don't see how it will affect your super. There is no need to seek financial advice as there is enough info out there available for free, and if you are in an industry super fund, your fees are pretty low anyway

Super is an investment that you need to be proactive with. If it is not performing, move it. I am just about to go down the SMSF route as I want to be in control of my retirement and get even lower fees

Re: Share the pain
 

Your first paragraph contradicts your second a bit. If I want to move my Super, financial advice would be wise. But I don't have an industry super fund and I think this applies to all super companies.

It's the removal of the clause to act in the best interest of their client that bothers me.

Re: Share the pain
 

Come off it. If you can afford to have a rental property you are making a loss on, you are not poor.

I agree with your overall point about bad investments shouldn't be recompensed by tax breaks though.

Re: Share the pain
 

Just do your own research. There are plenty of comparison websites but the best way is to contact the super funds direct. They will be more than happy to send you all the info you need. Moving your super to an industry fund is a really simple, one form process and both your existing and new funds will assist you

My super is doing well fortunately. If you are unhappy with market based super and the volatility that can occur, put it into cash

I learnt long ago to avoid financial advisers in any shape or form when it comes to investments. They have their place in advising on mortgages - the bank pays them not you - but that's it

Re: Share the pain
 

It was very easy to be on 60000 per year, accrue 10 grand, pop down 5% or nothing back in the day and get yourself a cheap renter. Think about it.

Re: Share the pain
 

Think we must have different definitions. $60k is above median average so don't see how that could be described as poor.

Re: Share the pain
 

Exactly, that is around 15k more than the median wage so you would hardly qualify as poor. I dont personally know anyone on a low wage who own a rental property, many dont own a first home.

Re: Share the pain
 

Go nuts if you want to include part timers and paper boys. I'll run with the $72000 for full timers. Point being investment properties aren't reserved for the wealthy. Argue all you want.

Re: Share the pain
 

When you say 'back in the day' was that 15+ years ago? Back then, 60k a year was a pretty decent wage.

Re: Share the pain
 

Lets face it 60k is still a decent wage as it is more than most people earn.

Re: Share the pain
 

Hey you remember that 100% morgtage thing? Same thing at caused the GFC

Re: Share the pain
 

Have the decency to respond direct rather than pussying through other posters.

Re: Share the pain
 

..... and I might add for the bogan labor "I want everything without working for it nutters". I'm on your side if you think NG is for the wealhy. I''m just demonsting NG is for the poor and rich.

but then again, labour voters would be too full of dumb ass, too full of 'today', and lacking creativity to realise.

Re: Share the pain
 

And thinking that only low paid receiving benefits have a net zero tax level might be liberal thinking?