# Anyone else getting depressed over the sharemarket?



## agro (3 October 2008)

just can't seem to be making any headway 

especially as a pensioner, one lives of the sharemarket and super


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## Nyden (3 October 2008)

agro said:


> just can't seem to be making any headway
> 
> especially as a pensioner, one lives of the sharemarket and super




I feel for you agro, I really do. However, as a pensioner you do not need to live off the stockmarket; as it is my understanding that you can (even if your super fund is not self managed) put through a request to have your funds allocated to cash ... foreign currency, etc)

Stop listening to the clowns on the TV, and work out what is best for you and your situation.

Oh, and I would advise that if this is actually causing you to feel distressed; I would definitely look into changing your current situation -  so that you may actually have sleep filled nights - and hopefully better enjoy your retirement. I've been out of the market for months, many months - because I know that I'm not yet good enough to trade this volatility, and it is my belief that we're headed down anyway.


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## CanOz (3 October 2008)

agro said:


> just can't seem to be making any headway
> 
> especially as a pensioner, one lives of the sharemarket and super




Exactly what % return do you need to live? Its hard to beat the cash rates at the moment.

Cheers,


CanOz


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## bluelabel (3 October 2008)

CanOz said:


> Its hard to beat the cash rates at the moment.




Too right canaus.  I swithched all our super over to cash deposits around feb and have earned an average 8%.  Its not the usuall amount but its better than negative earnings

:bier:

blue


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## Green08 (3 October 2008)

agro said:


> just can't seem to be making any headway
> 
> especially as a pensioner, one lives of the sharemarket and super




Agro I do feel for you.

You are entitled to withdraw a mximum of $10,000 a year from you superfund without penalty on the grounds of hardshiip.  That is legal and I have done it in the past.

If you have a SMSF you need to write a letter with your trustee (for tax audit purposes so they know why) and then take the money out.

If you are with a super company you will have to ask them what they need.


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## agro (3 October 2008)

bluelabel said:


> Too right canaus.  I swithched all our super over to cash deposits around feb and have earned an average 8%.  Its not the usuall amount but its better than negative earnings
> 
> :bier:
> 
> blue




as if you are not looking for bargains?


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## Tysonboss1 (3 October 2008)

I feel for anybody having to draw down capital in this market, 

Try not to stress to much though, I think it is to late to start moving to cash, you'll probally mis the upturn.

I think this down turn may be a good lesson to people who have to rely on capital payments to have at least 2 years worth of living expenses sitting in cash or short term fixed interest so that they won't have to draw down there equities in a bad market.


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## Julia (3 October 2008)

agro said:


> just can't seem to be making any headway
> 
> especially as a pensioner, one lives of the sharemarket and super



Agro, a couple of questions (not meaning to be intrusive but before making any suggestions):
Do you currently receive a government pension?
Do you have public super or a SMSF?
Are you drawing a pension from the super?
Are you over 55?

PM me if you prefer.


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## Prospector (3 October 2008)

It is all depressing Agro.  

I think maybe you could go and see a financial planner just to make sure you are receiving everything you are entitled to.  I am thinking, with everyone's Super being eroded daily, the Feds plan to have as many people 'off the pension' in a few years time has been blown out the door!


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## Julia (3 October 2008)

Prospector said:


> It is all depressing Agro.
> 
> I think maybe you could go and see a financial planner just to make sure you are receiving everything you are entitled to.  I am thinking, with everyone's Super being eroded daily, the Feds plan to have as many people 'off the pension' in a few years time has been blown out the door!



Good suggestion, Prospector, but if Agro's situation is fairly straightforward, maybe no need to spend megabucks on paying a FP.


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## wayneL (3 October 2008)

This is the sort of time that options can help the long term investor. They have an image of being risky and for smart@rse traders. But there are very basic, conservative strategies that can help. 

For example,selling covered calls over your holdings.

I am managing a portfolio for a trust over here in the UK where my remit is to earn income for the beneficiaries who are elderly retired folk. All I've done since this schmozzle started was sell calls over their dogs**t holdings and though the capital value is copping a shellacking, the income keeps coming for them.

Something to think about.


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## tech/a (3 October 2008)

wayneL said:


> This is the sort of time that options can help the long term investor. They have an image of being risky and for smart@rse traders. But there are very basic, conservative strategies that can help.
> 
> For example,selling covered calls over your holdings.
> 
> ...





*Absolute sense Wayne.*

Being depressed about any situation shows a lack of planning.
Not having a go at ARGO or anyone in his situation.

But the colored glasses the Government and the general populace have of the Never ending golden highway have lead many into this feeling and situation. I have many friends in the same boat.

Hedging strategies need to be applied to larger portfolio's particularly if those portfolio's are all one has to rely on.
Education and adoption of these strategies "Should be" part of the "Financial Planning" management of peoples portfolio's.
I dont know of one F/P that actively involves clients in these risk mitigation tactics.

So whats the point of an F/P?
Lack of planning by those we entrust our funds with.


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## disarray (3 October 2008)

and all this after the recent frenzy to pile as much money as possible into superannuation for the generous tax breaks. it goes beyond ironic and starts to look like a big setup. i've just watched the tail end of the baby boomers get massively fkd over by the system, and inter-generational conflict aside, i feel for those who did (or thought they were doing) the right thing and have had their plans for the future dashed.

i can't say i haven't been warned, i've witnessed firsthand the nature of the beast so hopefully i will be aware in 25 years time when its my turn to get screwed by the rich pricks du jour.

don't trust the government, don't trust the banks, don't trust superannuation, don't trust the system, don't trust the man.


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## tech/a (3 October 2008)

disarray said:


> and all this after the recent frenzy to pile as much money as possible into superannuation for the generous tax breaks. it goes beyond ironic and starts to look like a big setup. i've just watched the tail end of the baby boomers get massively fkd over by the system, and inter-generational conflict aside, i feel for those who did (or thought they were doing) the right thing and have had their plans for the future dashed.
> 
> i can't say i haven't been warned, i've witnessed firsthand the nature of the beast so hopefully i will be aware in 25 years time when its my turn to get screwed by the rich pricks du jour.
> 
> don't trust the government, don't trust the banks, don't trust superannuation, don't trust the system, don't trust the man.




Mate I took total advantage of the Super laws.
All went into my own SMSF.
Which is cash and property.
Not a single stock.

My moto is if you cant have control of it dont be in it.
That goes for Business ventures,Investments, Super and any other scheme you can think of.

*Trust youself!*


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## Glen48 (3 October 2008)

I went to get a book on Suicide but for some reason they are never returned ????
I guees just put your money in at 7-8% if you can get it and see whay happends after the magic bailout.
So much for de-coupling


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## deadset (3 October 2008)

Yes, I was depressed, but I must have been dropped on my head as a baby because I'm finding it exciting even though I"ve lost money.

Call me a cynical pessimest if you will :
Super is a different kettle of fish to me, I simply work on the basis that its not there and between now and retirement it'll disappear.  You only have to look at all the greedy rules the govt have done to dip their hand into it since it was first made compulsory.  I don't know much at all about super to be honest, but *I'd definitely be looking at ways to get control of your own Super *as I don't trust the funds anymore, no doubt they realise the market is dropping, then they warn about it coming, then they say "look at the long term", yeah, *pure speculation here*, did they sell everything to cash beforehand if they knew the drop was coming, then used the market drop as a reason to take some of yours ?  Have they been shorting your own investments with them? Why would they not convert most assets to cash if they knew it was going to drop, I remember the Super people coming to work in 2007 and warning about potential drops too, then giving a speech on the long term strategies based on age and years to retirement.  I'm super cynical about the whole compulsory industry.


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## xyzedarteerf (3 October 2008)

Depressed yes...totally.. the only thing that gets me through the day is going here FAIL Blog for a few laughs, 
and playing games currently Sniper Art of Victory

Maybe i'll join a Gym like this guy and get physical.


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## gav (3 October 2008)

xyzedarteerf said:


> Depressed yes...totally.. the only thing that gets me through the day is going here FAIL Blog for a few laughs,
> and playing games currently Sniper Art of Victory
> 
> Maybe i'll join a Gym like this guy and get physical.




PMSL!!! Dont show stuff like that, the gym is one of the few places left that I can go and feel like I am actually achieving something in life!  Although, I wouldnt be caught dead doing that ridiculous exercise.  The majority have no clue when it comes to training properly!


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## Prospector (3 October 2008)

Financial planners will help Agro to ensure that he is claiming all the Government benefits he is entitled to claim, or suggest how he can structure his finances to ensure he can claim it.  Never mentioned anything about risk mitigation structures or the like.

While investing in property might seem an alternative, property prices in the US and Britain are heading down the toilet.  So investing in property hardly seems risk free either at the moment!  Although I have invested in property too.  

_Definitions of depression on the Web:


a mental state characterized by a pessimistic sense of inadequacy and a despondent lack of activity 
a long-term economic state characterized by unemployment and low prices and low levels of trade and investment 
sad feelings of gloom and inadequacy 
a period during the 1930s when there was a worldwide economic depression and mass unemployment
_
Seems pretty reasonable for some feelings of depression then.


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## nioka (3 October 2008)

Prospector said:


> Financial planners will help Agro to ensure that he is claiming all the Government benefits he is entitled to claim, or suggest how he can structure his finances to ensure he can claim it.



 Why pay a financial planner. Don't centrelink have financial advisers that will help for free?


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## BradK (3 October 2008)

wayneL said:


> This is the sort of time that options can help the long term investor. They have an image of being risky and for smart@rse traders. But there are very basic, conservative strategies that can help.
> 
> For example,selling covered calls over your holdings.




Hi, agree. 

Covered calls have far been my bread and butter since I got into this lark a number of years ago. Although, I quit writing them in August 2007 and pulled everything out. Thinking of dipping the toe in with a long dated call (about 12 months) and writing against that over the next year and see how I go.  Used to LOVE writing against OXR/ LGL/ OSH. 

Cheers
Brad


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## pepperoni (3 October 2008)

Have been predominantly in cash for 2 years anticipating this (missed a bit of up but dont care just wanted to avoid this dip) and 99% in cash since early July.

So no Im not depressed. 

I got a little depressed when things kicked ater the initial credit crunch but lately I simply could not have been happier


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## Prospector (3 October 2008)

nioka said:


> Why pay a financial planner. Don't centrelink have financial advisers that will help for free?




Have you ever dealt with centrelink? 

Centrelink cannot advise you on how to structure your finances so as to get maximum financial benefit from the Government; they will simply act on what you have done.  Only people who have obtained Financial planning certification are allowed to advise on financial planning matters, and centrelink people dont have those qualifications.


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## numbercruncher (3 October 2008)

> Anyone else getting depressed over the sharemarket?





Not at all, this has been one of the most predictable events in modern history ...

I even recall several posters on this very forum giving you all the big tip well in advance ....

Happy days ..


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## Julia (3 October 2008)

Prospector said:


> Have you ever dealt with centrelink?
> 
> Centrelink cannot advise you on how to structure your finances so as to get maximum financial benefit from the Government; they will simply act on what you have done.  Only people who have obtained Financial planning certification are allowed to advise on financial planning matters, and centrelink people dont have those qualifications.




Prospector, perhaps this varies through the various Centrelink offices?
A friend of mine went to one of their retirement seminars and subsequently had a private appt with their FP.  That person was fully qualified as a financial planner and adviser.   She did receive several really helpful suggestions about how she could restructure her situation in order to attain more Centrelink benefit and was more than happy with the result.

She felt that - in contrast to a private FP she'd seen previously where his interest was in trying to sell her managed funds - the Centrelink adviser had no axe to grind and was completely objective in making recommendations.


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## Kauri (3 October 2008)

Julia said:


> Prospector, perhaps this varies through the various Centrelink offices?
> A friend of mine went to one of their retirement seminars and subsequently had a private appt with their FP. That person was fully qualified as a financial planner and adviser. She did receive several really helpful suggestions about how she could restructure her situation in order to attain more Centrelink benefit and was more than happy with the result.
> 
> She felt that - in contrast to a private FP she'd seen previously where his interest was in trying to sell her managed funds - the Centrelink adviser had no axe to grind and was completely objective in making recommendations.





butt now to stop peoples on .. ahhh... centrelink, the agency to help those nwho are *genuinely* in strife and can't find work, from phoning, (usually on a mobile), to simply get a ref. they can quote, to say *they are really looking for work!!!!*    mayhaps there is a Fed scheme that refunds my costs in fielding these stupid...   aaahhh.. mayhaps one of them is genuine, so what can you do????
Cheers
..............kauri


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## BradK (4 October 2008)

My tax agent was also moonlighting at Centrelink, so got me a PACKET back in regards to family benefits that I just would never have asked about or claimed because she knew the ins and outs. Some of them are really nice... although, walking past the Centrelink office in my city, I can hardly tell who is the client and who is the staff they are that scruffy


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