Superconnuation

[Bronte]

Will Super enable you to live well in Retirement?

 

[Duckman#72]

Will Super enable you to live well in Retirement?

If you have heaps in there - yes it will. Ha

 

[Julia]

Will Super enable you to live well in Retirement?

Rather a broad question, Bronte.
Doesn't it depend on how much you've contributed over how long and what sort of standard of living you expect in retirement?

Do you want to narrow the question a bit?

Julia

 

[Bobby]

Rather a broad question, Bronte.
Doesn't it depend on how much you've contributed over how long and what sort of standard of living you expect in retirement?

Do you want to narrow the question a bit?

Julia

Hello Julia,

Good luck with getting a clear answer to your questions.

Bob.

 

[Bomba]

there are certainly stronger incentives to pump money into super

 

[Bronte]

Hello Julia,
Good luck with getting a clear answer to your questions.
Bob.

Your question:
Hullo Bronte,
Need your help how to read the information you stated on the thread real time trades- pages ** to ** please .
Also how do I start to trade the SPI as I don't know what to do ?
Regards Bob.

My answer:
Hiya Bob,
Grab a cup of tea / coffee and start from page one.
You should find a lot of info on the SPI...skip over the cr## and follow all leads...good luck

Your question:
Hullo Bronte,
Thanks for getting back to me, but where can I find the first page to start reading please ?
Regards Bob.

My answer:
Under Log out (Top Right)
Click on "First" Bobby
Good luck

Thanks Again Bronte, I'll give it a go !
Cheers Bob.

 

[Bronte]

Rather a broad question, Bronte.
Doesn't it depend on how much you've contributed over how long and what sort of standard of living you expect in retirement?
Do you want to narrow the question a bit?
Julia

Hi Julia,
Ask yourself the question:

"Will my Super enable me to live well in Retirement?"

I will be interested to know your answer Julia.

 

[ghotib]

Ours will, as far as anyone can see at the moment.

From the title of the thread, you think most people won't be able to live on super? Will you?

 

[Duckman#72]

Hi Julia,
Ask yourself the question:

"Will my Super enable me to live well in Retirement?"

I will be interested to know your answer Julia.

Hi Bronte

As I see it there are two separate issues.

Firstly, how much money will be in my superannuation fund?

Secondly, what will my needs be in retirement?

What comes first the chicken or the egg? I know it is a generalisation, but from what I've seen the majority of people have a deep rooted and very set way of living well before retirement. People that are not living extravagantly up to 65 are highly unlikely to start living this way once they have finished work. On the other side of the coin, those people who have lived lavishly up to retirement are highly unlikely to start buying buy black and gold ice cream. This is probably no coincidence as peoples income levels determine how much super they will have in retirement. Those with higher incomes now will probably have more in super in retirement.

My question to you Bronte would be what do people expect from their superannuation? I am sure some people have totally unrealistic expectations. It isn't like winning lotto.

It also depends on what you mean by "living well". For Mr and Mrs X - living well might mean a disposable income of $70,000, Mr and Mrs Y might say $90,000 and yet Mr and Mrs Z might say $30,000 will do them just fine.

But to answer your question - I hope so!!

Duckman

 

[Bronte]

Ours will, as far as anyone can see at the moment.
From the title of the thread, you think most people won't be able to live on super? Will you?

Ours will certainly NOT.

A friend of ours is running a survey on this subject.
He speaks to around 4000 people a year across Australia at workshops.
So far he has had only three people say that they will have enough
Two of those were from Superannuation salesmen, the other a very wealthy self employed gentleman.

 

[Bronte]

Hi Bronte
My question to you Bronte would be what do people expect from their superannuation? I am sure some people have totally unrealistic expectations. Duckman

I suppose people expect to live at the same standard as pre retirement.

 

[Julia]

Hi Julia,
Ask yourself the question:

"Will my Super enable me to live well in Retirement?"

I will be interested to know your answer Julia.

Yes.

I put investing and saving at the top of my list after I had to start again from scratch (no money at all) when I left a marriage in my mid 30's, went through some lean times and didn't do the level of travel or wear the designer clothes my friends did for a number of years, but feel it was worth it now.

Duckman makes sense when he points out that everyone has a different idea of what constitutes "living well". Some people are going to want to fly round the world business class every year and stay in 5 star hotels, while others will be happy towing a caravan around Australia. (The latter represents my personal horror, btw!).

As a bit of trivia, in NZ the Age Pension is not means tested and can be claimed by anyone of age pension age regardless of personal wealth or income. I have no idea how they manage to fund it.

Julia

 

[Smurf1976]

The problem with superannuation is that the government, not you, decides when and how you can get YOUR money. They could raise the preservation age to 70, 80 or even 100 just like that if they wanted to keep more people in the workforce (quite likely with an ageing population).

So the fundamental question about super for me is not how well it will perform as an investment but "Do you trust politicians to keep their word?". Is suspect that for the vast majority the answer there is "no".

 

[carmo]

It all comes down to your choice in wine, Grange or Bin 65.

 

[Bronte]

It all comes down to your choice in wine, Grange or Bin 65.

Or vinegar

 

[Julia]

So the fundamental question about super for me is not how well it will perform as an investment but "Do you trust politicians to keep their word?". Is suspect that for the vast majority the answer there is "no".

Smurf:

"How well will super perform as an investment"??

Super is not of itself an "investment". It is simply a tax effective vehicle from which to make investments. Rather than pay the maximum tax rate, you can make the same investments via a SMSF and pay only 15% tax.

Julia

 

[Bronte]

Will Super enable you to live well in Retirement?

Now over two years later...what do ASF members think:
Will your Super enable you to live well in Retirement?

 

[Julia]

Yes. I outlined my philosophy in the Doom & Gloom thread.

But there will be some buy and hold investors who have simply been living on hope who will now be working for several more years.

I've been unimpressed with hearing the majority of financial advisers and other 'experts' telling people everything will be fine. That the markets will recover etc. Yes, true, in time.
But they should have qualified that advice with suggesting that at the beginning of this year (or earlier if you were astute) those people who were close to retirement should consider taking steps to preserve their capital.

 

[chops_a_must]

I've been unimpressed with hearing the majority of financial advisers and other 'experts' telling people everything will be fine.

There was one ******** yesterday saying that there was no possible way the market would head lower from here.

What the ****?

 

[jonojpsg]

Yes. I outlined my philosophy in the Doom & Gloom thread.

But there will be some buy and hold investors who have simply been living on hope who will now be working for several more years.

I've been unimpressed with hearing the majority of financial advisers and other 'experts' telling people everything will be fine. That the markets will recover etc. Yes, true, in time.
But they should have qualified that advice with suggesting that at the beginning of this year (or earlier if you were astute) those people who were close to retirement should consider taking steps to preserve their capital.

Hear hear Julia, any financial advisor who is getting paid to manage someones funds that is in or close to retirement and who didn't shift a large proportion (if not all!) of those funds to cash at the beginning of this year should be shot IMO