# Superannuation is very very risky



## spartn (9 October 2007)

Hi Guyz

If you ask me, i personally believe that superannuation is very very risky. I don't mean when it comes to too losing your money I mean that you may not even make to you reach 60 years old. Over the past 10 - 15 years. I have not seen any of my friends parents reach 60 years old and retire, they have all passed on, and some of them never smoked and never drank. Most of them work 6 days a week, nearly every week. And they would say that when they retire they would go on a holiday. Are we all doomed to follow the same path of thinking with arrogance that we all will make it too 60??

In the end if you are going to wait to your at least 60 years old, TWO things that are just as important as your superfund manager. these are:

1. Get a nutritionist.

2. Get a personnal trainer at your local gym.

If you don't have these 2 important things, you better not guareentee yourself that you will even make it to retirement.

Spartn

:viking:


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## krisbarry (9 October 2007)

spartn said:


> Hi Guyz
> 
> If you ask me, i personally believe that superannuation is very very risky. I don't mean when it comes to too losing your money I mean that you may not even make to you reach 60 years old. Over the past 10 - 15 years. I have not seen any of my friends parents reach 60 years old and retire, they have all passed on, and some of them never smoked and never drank. Most of them work 6 days a week, nearly every week. And they would say that when they retire they would go on a holiday. Are we all doomed to follow the same path of thinking with arrogance that we all will make it too 60??
> 
> ...





Your argument is floored...most of the longest living people on this earth drank alcohol everyday in moderation, and never worked 6 days a week.


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## krisbarry (9 October 2007)

My Dad worked his ar_se off 6 days a week and dropped dead at 53 years of age, it ain't worth doing that.  I live my life exactly the opposite to my Father...he was a very poor role model.


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## nioka (9 October 2007)

spartn said:


> In the end if you are going to wait to your at least 60 years old, TWO things that are just as important as your superfund manager. these are:
> 
> 1. Get a nutritionist.
> 
> ...




Utter rubbish. I'm 75 and had neither. I know a lot of people who made no plans for beyond 60, got there and are telling me that I'm lucky to have what I have. THERE IS NO LUCK there is planning.


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## nioka (9 October 2007)

Stop_the_clock said:


> My Dad worked his ar_se off 6 days a week and dropped dead at 53 years of age, it ain't worth doing that.  I live my life exactly the opposite to my Father...he was a very poor role model.




So what. My father died at 32. When I passed that I took every day as a bonus and I hope I have a bonus or two to come yet.

PS. Think of those you leave behind if you don't make 60. A wife and kids will remember you better if you have not left them without a home and some comfort.


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## Nick Radge (9 October 2007)

You're topic header is flawed. Anything and everything would be deemed risky according to this argument. Saving money in a CBA account is deemed risky because I may not make tomorrow...

I'll have what nioka is having...


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## explod (9 October 2007)

Stop_the_clock said:


> My Dad worked his ar_se off 6 days a week and dropped dead at 53 years of age, it ain't worth doing that.  I live my life exactly the opposite to my Father...he was a very poor role model.




My Dad beat yours, worked his **** off too and 51 was his score.

I am behind them both at 61, have a DYO Super and trade 1 third on the market very satisfactorily.

My take would be to save, trade, speculate, acumulate by using your head and when you get to 60 you wont' need Super.  But if you look like carking in a bit early you can have a bloody good time doing it.


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## juw177 (9 October 2007)

Wow I am feeling quite young here.


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## nioka (9 October 2007)

juw177 said:


> Wow I am feeling quite young here.




Make the most of it. It won't last. EVERY DAY GOES FASTER THAN THE ONE BEFORE IT. (That's another thought for the day.)


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## Julia (9 October 2007)

Nick Radge said:


> I'll have what nioka is having...



Me too.
It probably has more to do with genes than anything else.
My late father drank alcohol moderately, smoked for quite a few years, and ate all the saturated fat he could find and was still physically healthy  in his 90's.  His mother died at 105.


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## krisbarry (9 October 2007)

Julia said:


> Me too.
> It probably has more to do with genes than anything else.
> My late father drank alcohol moderately, smoked for quite a few years, and ate all the saturated fat he could find and was still physically healthy  in his 90's.  His mother died at 105.





Yep spot on...genes will define the majority of age an the onset of illness.  Sure enviroment plays a part, but if you have the right genes that can fight off the diseases of life then your more than half way their.  So Genes are far more imporantant imo.


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## jonojpsg (9 October 2007)

nioka said:


> Make the most of it. It won't last. EVERY DAY GOES FASTER THAN THE ONE BEFORE IT. (That's another thought for the day.)




Here's one for you then - does each day go faster because it becomes a smaller proportion of your life, eg today is 1/12000 of my life whereas tomorrow will be 1/12001?


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## nioka (9 October 2007)

jonojpsg said:


> Here's one for you then - does each day go faster because it becomes a smaller proportion of your life, eg today is 1/12000 of my life whereas tomorrow will be 1/12001?



I guess it is all in the mind but any oldie will tell you the same thing. Maybe it is because we generally are so busy having fun that we don't notice the time going by. Maybe it is because it becomes a smaller portion of your life. Regardless of all that today is the first day of the rest of your life so make the most of it. I'm sitting bere waiting to go fishing, it's raining which is good for the garden but it stops me being out there at the moment. I've filled in the time buying a few MHL at 3.3c and watching ASF for a tip or 2. The day will be gone before I know it.


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## Ageo (9 October 2007)

spartn said:


> In the end if you are going to wait to your at least 60 years old, TWO things that are just as important as your superfund manager. these are:
> 
> 1. Get a nutritionist.
> 
> ...




I see, so what your saying is having a personal trainer and a nutritionist is going to make me live longer? if thats the case 90% of Europes population should die before 60.

Nice theory


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## Happy (9 October 2007)

It is possible to live and self admisiter exercise and diet, like Self Managed Super.


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## Judd (9 October 2007)

Life is risky.  So live with it.


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## Smurf1976 (9 October 2007)

nioka said:


> I'm sitting bere waiting to go fishing, it's raining which is good for the garden but it stops me being out there at the moment.



Sorry to break this to you nioka, but the fish really won't mind getting wet in the rain. 

As for super, the biggest risk IMO is that of the government changing the rules. It would be bad enough if they had changed once since Keating's days. But there have been so many changes that just makes it a joke. You just can't trust the government not to limit access until you're a hundred. And that's a situation that won't change whether it's Labor, Liberal, Green or whoever making the rules.


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## YELNATS (9 October 2007)

Smurf1976 said:


> As for super, the biggest risk IMO is that of the government changing the rules. It would be bad enough if they had changed once since Keating's days. But there have been so many changes that just makes it a joke. You just can't trust the government not to limit access until you're a hundred. And that's a situation that won't change whether it's Labor, Liberal, Green or whoever making the rules.




Yes, but how many of these changes have not been favourable to superannuants? 

With the rapid ageing of the population, hasn't the federal goverment (both Liberal and Labour) recognised that they can't support all retirees on government pensions any more and therefore encouraged superannuation in its' various forms?


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## nioka (9 October 2007)

Smurf1976 said:


> Sorry to break this to you nioka, but the fish really won't mind getting wet in the rain[/QUOTE}
> Ah but you do have to wait for the tide. Remember a bad days fishing is better than a good day at work. The wind came up, a hail storm with it too. Tomorrow is another day. It's like the share market, you can't win them all.  I did get a couple of mud crabs and a bag limit of bream a couple of days ago so I wont complain.


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## Pat (9 October 2007)

spartn said:


> Hi Guyz
> 
> If you ask me, i personally believe that superannuation is very very risky. I don't mean when it comes to too losing your money I mean that you may not even make to you reach 60 years old. Over the past 10 - 15 years. I have not seen any of my friends parents reach 60 years old and retire, they have all passed on, and some of them never smoked and never drank. Most of them work 6 days a week, nearly every week. And they would say that when they retire they would go on a holiday. Are we all doomed to follow the same path of thinking with arrogance that we all will make it too 60??
> 
> ...



Saving for your retirement is a wise decision, wether you do it through super or not. The govt makes us save through super to some extent. So we've got no choice there.



Stop_the_clock said:


> My Dad worked his ar_se off 6 days a week and dropped dead at 53 years of age, it ain't worth doing that.  I live my life exactly the opposite to my Father...he was a very poor role model.



Poor? 
That isn't a poor role model, an inspiration to a lazy generation if you ask me, I do agree that all work and no play makes johnny a dull boy, but we need to work... I work to live, not live to work.
So I guess your a bum then Kris? What are you doing posting on ASF? Research? Sounds like work to me.


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## nizar (9 October 2007)

explod said:


> My take would be to save, trade, speculate, acumulate by using your head and when you get to 60 you wont' need Super.




Tend to agree here.
You have to live a bit as well.

For some of us, 60 is a long, long way away.


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## So_Cynical (9 October 2007)

I remember a post in a non financial forum i post on..theres this guy 
wanting advice about retirement.... hes 55.

He quoted a statistic, that out of every 5 men that reach 
fifty five years of age, 1 wont see 65....so a 20% chance of 
no retirement if u wait till 65.

We talked him into early retirement


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## austek (9 October 2007)

Spartn, , Spartn, Spartn you leave yourself wide open, with such negative comments, where do I start.

I worked for 40 years with a large Manufacturing Company, and I must admit we saw a large percentage of employees retire and die within 12 months.

I beleive you are slotting yourself into this category without any help, from anyone.

The thought of dying has a huge affect on my fishing buddy also retired, he walks 5 miles a day to feel like he is doing something to delay the inevitable.   Why ??

Is it really in the genes? my mother died at 47 and my father 53 from over work and a neglected heart problem.  I retired 1995.

My financial planner lost three quarters of my retirement savings $750k in the tech crash, something that I look on now as a plus, as I now trade for a living, have wanted  to earn my own living all my life with a passion.

Now 67 years old and fish competitions and tournaments every week, and with sharing time with my kids and grandkids as well as monthly trips with a group of fishing friends, who in the world has time to think of dying.

A glass of nice red, a few fish in the bag and the sharemarket pays for it all.

Just rejoice in what you have, and what you plan to give & take from the rest of your lifetime

austek


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## nizar (9 October 2007)

Austek.

Great to see you enjoying life.
That's the way its meant to be 
Good stuff.


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## krisbarry (10 October 2007)

With the advances is modern medical technology and break through treaments, and cures and new medical drugs...those that die young today, will not die young tomorrow.

The mortality age rate increases year by year

I am certain that I will live well beyond 60 years of age.

Just try using one of those death calculators...I reach the ripe old age of 78, and thats living in the city, moderate drinking, sun exposure, driving a car, flying in a plane, stress and lifestyle factors, and a same sex parent dying of heart problems.:


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## tech/a (10 October 2007)

Some interesting points here.
If you take away the heading the thrust of the topic is that some will not see the distance to retirement,so you could be making financial sacrifice for a longterm gain which may not be realised. For a small minority this will be true.

But at 53 and in the position to retire if I wanted to I'm often asked and have contemplated doing so. I choose a path in between.
Over the years I have placed myself in a position which is *MY* idea of Superannuation.This to me is *INVESTMENT*.It has been a *conscious plan *for 15 years now.

(1) I have some Tremendous Staff, some of my management team worry about my business more than I do.Having a succession plan.
(2) I have built my company and continue to build it in a way that I can step away from the daily operations for extended periods without there being an impact on the P&L statement.
(3) I love the challenge of business and what I have chosen as my specialist field of work and so do those involved in the Company.
(4) I have taken care of my own Super both Property and Shares,this has taken away the concerns I have similar to austek's tragic experience.
(5) I have consciously made the effort to be involved in securing my financial future aside from Super and Core Company.To my suprise this aspect has become a secondary very laid back income generator beyond imagination.

(6) Take time to Jog,Ride and regularly compete in small(10K) running races,just to compete and have a goal,I'm more Cliff Young than Robert Decostella!
(7) Rarely miss an invite for a game of golf on ANY day.
(8) Love travel go away O/S or local whenever I get a chance. For someone who has clocked up over 150 flights and has/had a terrible fear of flying,have to add conquering fears (not all for me yet) as another investment in life.
(9) Enjoy good company and value friends.
(10) Really dont worry about much,prefer to tackle a problem than procrastinate.Another sound investment.

Lastly but by far not most importantly I have funds put aside that cant be touched in the way of freehold asset/trusts so that if all went pear shaped it will be there.

To Kris's (Stop the Clock) remarks above.This is something I dont think many think about.
People are living longer.30 years ago $300,000 was a lot of Money,today its very little.
So retire today at 55 and live till 90 you need to support yourself AND keep ahead of inflation for 35 years!

Personally I've taken the veiw of Passive income to achieve this coupled with a strong capital base.

*But most of all *and this will sound soppy.I have a truely wonderful partner.
We have a ball!
The best investment you can/will *EVER* make.


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## austek (10 October 2007)

Stop_the_clock said:


> With the advances is modern medical technology and break through treaments, and cures and new medical drugs...those that die young today, will not die young tomorrow.
> 
> 
> This is one time I concur with your comment STC.  A friend was given a 5 year sentence by surgeons after having a prostrate removed and the attached genetalia.   That was 13 years ago.  After wasting a few years worrying he is  now as active as ever.
> ...


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## Pat (10 October 2007)

austek said:


> Stop_the_clock said:
> 
> 
> > If you kept your shirt on at the beach in your teens (hmm?) and don't smoke I like your chances of 78
> ...


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## nioka (10 October 2007)

austek said:


> Stop_the_clock said:
> 
> 
> > If you kept your shirt on at the beach in your teens (hmm?)
> ...


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## hilly1981 (10 October 2007)

I reckon when your numbers up, your numbers up.

You could be the healthiest person on the planet, and one day step out off the kerb and into the path of a bus, or get killed by an out of control car in a freakish accident.

Life = Risk

Instead of worrying about the inevitable, dont hesitate in saving for retirement. Heck if you were piling money into your super and on course to retiring on a big nest egg, but suddenly drop dead 5 years beforehand, then your not going to be kicking yourself are you?

Even then if your not around to enjoy it at least it goes to your nominated beneficiary (like your spouse or kids for example) so they can use it.

I dont really think about death to be honest. All I wish for is when it is time for me to go that it is not a painful one!


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## insider (10 October 2007)

Stop_the_clock said:


> Yep spot on...genes will define the majority of age an the onset of illness.  Sure enviroment plays a part, but if you have the right genes that can fight off the diseases of life then your more than half way their.  So Genes are far more imporantant imo.




Was your dad tall by any chance?


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