Good for newbies in commodities, but you can't convert your holdings into physical gold on demand. If you invest through bullion trading companies like ABC Bullion or Perth Mint you can have it on paper and transfer it to physical gold bullions for a fee.Quote:
Originally Posted by tkicks
I have a simple question :
The share market at the moment is quite high, so is the interest rates while the property market /including rental is also bullish. So why is the Super Not doing better ?
Quote:
Originally Posted by kingqxxx
Chill out bro, I get all my financial, health, medical, relationship, legal, political, and technological advice and expertise from this place and it costs me nothing! Without it I'm fucked!
Partly because Hong-Kong and shanghai stock are dropping especially if your super are exposed to international investment. Exposed to commercial property.Quote:
Originally Posted by AHLUNGOR
We all fucker here are all expert in every things that fine with me. Good to see how others pussy fucker thinks. Some are good info and some bad so buyer beware just like any other thing especially in this sex forum.
Well, experience alone can sometimes translate into good advice. Like a newlywed bride learning how to be a good wife, she either has to learn from other seasoned housewives or through trial and error. If learning through trial and error she has to be open minded and not stubborn otherwise the marriage will not last.
But with both education and experience combined, your choices are much more informed rather than just relying on words of advice alone. Again like that newlywed bride simile, if she wants to keep her husband she has to be open minded towards making the husband want to go home first thing after work - warm meals, clean clothes and naked funtime in exchange for the hubby doing the dishes and giving the wifey a backrub (and his income).
Yea i know right. hahaQuote:
Originally Posted by Double_Adapter
SMSF - Commerical properties in NSW, VIC, SA and WA.
If you all read about Warren Buffett and other value investors, you'd know this: Over 95% of fund managers fail to beat the market over the long run
They're all marketing gimmicks, screaming over high-performing funds that won over the short term and 5 star Canstar rated. When a fund underperforms over the long run, it's replaced by a new fund.
Yet fund managers charge 1% for their fee + buy/sell spread costs + other fees. Fund managers get paid regardless while you lose money.
1% sound tiny? It'll compound and cost you 60-70% of your return.
Look for low-cost index fund, eg HostPlus Balanced Index Fund, 0.04% fee with no other fee (now your 1% fee + other fees sounds expensive).
Or Vanguard Lifestyle super is ok, it's 0.58% fee if I remember correctly.
Not giving advise at all, just stating what works for me and that's SMSF. I do my homework and decide what I need to buy and sell.
I've split my portfolio into shares, capitol notes, health, aviation, technology, gold, building and cash. And it works for me.
And if WW3 comes along like Jackk eluded to above then my robotics, batteries and semi conductors stock should skyrocket.
Going slightly off topic, I find using Zip pay or After pay while you're earning interest in your savings account the smartest thing to do.
I started using Zip to pay for bulk laser hair removal sessions initially. Zip charges $9.95 monthly regardless of balance owed. I didn't use Zip because I had zero money in savings, I use Zip because I didn't want to spend a chunk of my savings.
My savings is kept in a 4.9% p.a. interest rate account. With the amount I have right now I'm making roughly $100 per month. $10 is all I need to pay Zip for their servicing fee, and minimum repayments is $40 monthly. So instead of using my capital to pay off my debt, I use my interest earnings to repay it. On top of that I keep topping up my savings so that my interest earnings increases which allows me to buy more stuff using Zip in the future.
Salary sacrifice for super or novated leasing is a no brainer. Cash purchases will always be king but most people don't have cash sitting around to buy a vehicle outright and if I had that money sitting around, I'd put it in a mortgage where the return over the life of the loan is far greater.
Novated leasing is a finance product BUT to the earlier comment where the price is inflated, this is BS and you were sold on BS add-ons. Have those removed or provide your own negotiated quote. You then finance the vehicle ex GST and pay off over 1-5 years with a balloon payment at lease end that includes GST. The ATO determine the balloon and they use conservative rates.
Find a good car upfront (Demo is usually best value), lease for the shortest term possible and then sell. Make sure the car holds its value, don't buy a shitty brand. When you sell, any profit above the balloon is yours to keep tax free.
If you can afford to lease a 1-2 cars every 12 months and flip the cars, you can make an extra 15-20k income tax free per annum.
All of the running costs and finance payments come out pre-tax. The more you drive, the more you save. Those running costs are washed up at the end so you only pay for what you have consumed during the lease.
Where this product is not beneficial is when you buy a very expensive vehicle and don't drive it. Less travel = less running costs = less pre-tax deduction. Because the vehicle is expensive, the FBT you have to pay out of post-tax contributions is skewed when compared to the pre-tax deduction.
In short, it's a great tool for additional income if you pick the right cars, can afford to do so and don't buy above your means.
I went from rest super to Hesta.
I notice rest wasn't doing anything for me.
Unless you have the app, the default option for Rest is "core strategy" which is minimal risk but with minimal returns as well. You can change your investment option with the app to get better returns when market is bullish and change back to core strategy when market is bearish.Quote:
Originally Posted by 1inchguy
SMSF for the last 20 years - trading shares via Rivkin - consistently solid, market beating returns, less than 0.2% fees and I get to choose which markets / portfolios I wish to trade in.
It really depends on what your super fund is locked into... The Australian share market has lagged the US market for much of the last year or two, so there's some relativity there. Also the commercial property markets in many regions are lagging the residential markets. Many super funds carry significant fees so that causes them to lag raw market performance also.Quote:
Originally Posted by AHLUNGOR
Seems to be more advice than general here... Im with Rest
Ok general advice.
ESG is being shown as the bullshit that it is so I wouldn't bother with "ethical" investing or take it out & put it somewhere else in the next 12 months.
If ur looking for a super fund, avoid those run by the banks. They are the worst performers. Choose a proper fund manager. Plenty out there.
If ur into self managed super, you have to be very disciplined. I’ve seen many friends take too much risk and lose. Take risk using non super savings.
Diversifying your portfolio is key for a retirement fund. You don’t want to lose everything and be working at bunnings when ur 70. And you definitely want to have money to punt as an old timer lol.
Most importantly, find three good financial advisors. Never trust the advice of a single advisor. Get advice from a few. May cost more, but the benefits are priceless.
Every financial advisor in Sydney charge money for financial advice. It's not a free service like verifying your documents with a JP.Quote:
Originally Posted by Putter
Critical thinking and effort is what our society lacks. We always trust that someone isn't out there to scam us or steal our money in broad daylight. If we really want to be financially savvy we need to have the necessary critical thinking skills in order to know what is good vs bad investment.
When I did the TAFE Diploma in Financial Planning (and dropped out before the final exam) I find that most of the information can be found online. What the diploma course is trying to instill in us is financial prudence towards clients - they're hoping that we don't go out as licenced financial planners and steal money right under their noses like FTX or Bernie Madoff did. The only problem is, anyone regardless of having a licence or not can be a crook.
People really need to be less lazy these days and be more educated on daily happenings.
Manage your own SMSF - much easier to invest in stuff yourself
Unisuper has been one of the most successful industry funds.Top of performance charts several times, and these days you do not have to be employed by that industry to join.
A question I'm curious about - WGs in the industry, do they bother setting up an SMSF for themselves just in case they want to stay indefinitely with a PR or do they stash all their cash in the bank (if they do their BAS report regularly) or find a safe deposit box to stash all that cash?
I find many people who work for cash in hand especially those in the construction business have very poor financial managing skills. They spend all their take home pay after paying rent & bills on gambling, brothels and the pub and never save anything. Some of them are citizens of this country receiving Centrelink and not planning on being financially independent until the day they die.
I do know that many WGs tend to store their cash by converting it to expensive luxury items that they may resell in the future. The problem is that not all second hand luxury are desirable unless the quality is almost brand new, and not every buyer will be duped into buying a second hand item priced at RRP - in that case, most luxury items get devalued and end up getting sold as emergency money in desperate times. If they don't report their 100% income through BAS it's going to be difficult for them to go through the right channel of putting down a deposit for home loan etc. At least if they report most of their income through BAS and put more than 12% into SMSF they can pay a much lower tax rate, have money for retirement and not worry about being questioned where their money came from.
Good thing this thread is general as I'm genuinely giggling at some of the nonsense being spouted.