It’s not like everyone is retiring next year
in this day and age, with high volatility, days of 10%+ swings in the share markets, somewhat non functioning bond and credit markets, I'd be wary of switching. Get out on a bad day, and miss the up day (can U guarantee same day processing? <answer is NO, by the way>) and there could easily be a large dollar deficit in the investment balance.
Congratulations one right.
I'm hoping you can kick on and build on it.Short term....
Agreed. There's no tax penalty for mitigating mortgage debt so it will usually outperform a super fund dollar for dollar and it's a more secure investment.It will be interesting to see how this plays out, most people would have thought this hickup with their jobs will last a month or two then it is all back to normal, when it keeps going on people are going to start demanding answers of their super funds.
There is no point having $250k in the super and having a mortagee sale on your house IMO.
I'm all for super, but it is important people own their home first IMO.
I'm hoping you can kick on and build on it.
They price daily.Most of the funds don't report daily, from my understanding, monthly at best.
it's not altering asset allocation, the issue is the government's allowing access to super for people who've lost jobs. $10k now and same next FY, Times a million. Do the maths.But when you have a super fund like this that blocks your ability to alter your asset allocation you know you're dealing with something really dodgy.
They may price daily, but what that price is you wont find out untill end of month, I know this because a mate just did it.They price daily.
The access to $10k has always been there for financial difficulty claims as far as I know, mainly because my lost son, has claimed it before.it's not altering asset allocation, the issue is the government's allowing access to super for people who've lost jobs. $10k now and same next FY, Times a million. Do the maths.
Yes. Then you sell should not be a problem should it? unless you value that building at 60millions and it os worth 6....it's not altering asset allocation, the issue is the government's allowing access to super for people who've lost jobs. $10k now and same next FY, Times a million. Do the maths.
I wonder how many of the infrastructure trusts, have had some good times, it is great while everything is bubbling along.Yes. Then you sell should not be a problem should it? unless you value that building at 60millions and it os worth 6....
Most publicly listed asset can be swapped to cash in a matter of days
The problem is that hospitality people will empty their account hostsuper will have no more business and so no fee to feed itself
Super funds are scams, nothing new, just surprised the hit comes from the fund, not a new government ruling
I wonder how many of the infrastructure trusts, have had some good times, it is great while everything is bubbling along.
Not so good when there is requirement to substantiate the cost.
It reminds me of the mate who wholesales furniture, a couple of weeks back he wasn't allowed into a couple of major retailers, I asked why not? He said well you take the manager out to lunch and they order $40k worth instead of $20k.
Well everything comes home to roost eventually.
Read the fine print... it says:it's not altering asset allocation, the issue is the government's allowing access to super for people who've lost jobs. $10k now and same next FY, Times a million. Do the maths.
Very true, but that is the responsibility of the trustees, it all come back to exposure.Well, what can you say, the illiquidity premium they were trying to capture is what's on sale right now, born out of moments just like this, when you can provide liquidity to those trying to get out of illiquid assets at any price!
It isn't that simple, there is only so much liquidity required, that is to support those on a pension and those who may require emergency funds as is required by law.Well, what can you say, the illiquidity premium they were trying to capture is what's on sale right now, born out of moments just like this, when you can provide liquidity to those trying to get out of illiquid assets at any price!
Not me - if I did I'd be outta there quicker than a rat up an aquaduct.Does anyone hold their superannuation with Hostplus? Disclosure, I do.
A bit late now, if I do say so myself, considering Hostplus now have the power to suspend or restrict withdrawals. I don't need to withdraw my super and my asset allocation is in an index option, not a premixed option with unlisted assets.Not me - if I did I'd be outta there quicker than a rat up an aquaduct.
Yes. Then you sell should not be a problem should it? unless you value that building at 60millions and it os worth 6....
Most publicly listed asset can be swapped to cash in a matter of days
The problem is that hospitality people will empty their account hostsuper will have no more business and so no fee to feed itself
Super funds are scams, nothing new, just surprised the hit comes from the fund, not a new government ruling
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