- Joined
- Apr 23, 2006
- Posts
- 3,402
All sorts of stuff is purchased by smsf's.
Collectables like an old Jag or a Bentley are popular
Collectables like an old Jag or a Bentley are popular
I have always felt it was not right to borrow for property in your super fund. Quite happy to borrow outside it, but we have always bought property outright in the fund. I think it is fine if you know what you are doing, but there are too many people where the property sharks have dudded them. You can still buy a dud property when you don't borrow, but it is all magnified with borrowing and it is for retirement.
as I said I think it’s fine for you or even me, as we know what we are doing,but there has been a lot of people put into property investments they shouldn’t have. I guess the argument is how far you protect people from their stupidity, but it’s always seemed to me that you should for their retirement income.We wouldn't touch residential, but have for commercial. As mentioned upthread our commercial investments earn a very high return the loans are paid back very fast. By the time we're mid 50's the commercial investments will be fully paid.
I suspect it’s like those reverse mortgages. Man some people just don’t understand what they are getting into.as I said I think it’s fine for you or even me, as we know what we are doing,but there has been a lot of people put into property investments they shouldn’t have. I guess the argument is how far you protect people from their stupidity, but it’s always seemed to me that you should for their retirement income.
as I said I think it’s fine for you or even me, as we know what we are doing,but there has been a lot of people put into property investments they shouldn’t have. I guess the argument is how far you protect people from their stupidity, but it’s always seemed to me that you should for their retirement income.
I suspect it’s like those reverse mortgages. Man some people just don’t understand what they are getting into.
Well that is also a perfectly legitimate strategy to get the pension. Not the cars so much but definitely travel.All blowing the lot on fancy cars, motor homes, holidays, cruises, etc, etc ..... or investing in something like Storm Financial.
Thanks. Accountant reminded me last week that if you're over the $25000 limit there's a lot of paperwork involved.Remember that limit must include the SG of 9.5% contribution made by your employer.
An upswing but still behind where we are right now? That's certainly a possibility. That's fine if you have more than enough or time to rebuild but in trouble if only have enough for modest to comfortable superannuation.I think in 6 years you will be pretty safe that it will be in an upswing again
I would doubt it, but you could be right. Impossible to make a prediction. Generally it ends up higher but Australa didn’t this iteration, while overseas markets did.An upswing but still behind where we are right now? That's certainly a possibility. That's fine if you have more than enough or time to rebuild but in trouble if only have enough for modest to comfortable superannuation.
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Because this is what our media has become in the new world.
Firstly, I don't have much respect for politicians or their ideology. Occassionally a good one comes along but few and far between.I would doubt it, but you could be right. Impossible to make a prediction. Generally it ends up higher but Australa didn’t this iteration, while overseas markets did.
If we ever have good government again, rather than the pack of clowns of one sort or another that we have had since 2007, we might see better outcomes.
I think the most important thing is to be able to enjoy yourself and not constantly worrying about your super and I guess only you can make that trade off. You have to be able to sleep at night.Firstly, I don't have much respect for politicians or their ideology. Occassionally a good one comes along but few and far between.
Granted 2008 was not a good one for superannuation fund managers and is the main reason these funds ended old funds and created new funds to try and wipe out.
Here are my thoughts. 2008 wasn't an isolated event. We've been through quite a few of these events in the last 20-30 years but was a touch worse than 1989? My very modest super balance took 5 years (2014) to getI think back to pre-levels so in essence I'd lost 7 years of savings. Unacceptable.
I feel there will be another event anytime now. I don't want to be caught short. The next one may be worse than 2008 and with a young family I'd be in trouble. I'm struggling now at 54. It's actually torture to come to work everyday but I'm doing it for my daughter. I don't want to work too far into my 60's.
So the big question then is do you hope for a 5% return in superannuation including the risk of losing a big portion of your super or do you take a lump sum payment at 60 and take the 2.87% on offer. If not working there is hardly any tax on the interest.
Understand that it's all about finding the right balance. Not sitting there worrying about it all night, and there are fallback options, but if there's another 25%-30% decline as there was 10 years ago, that's a lot of savings gone that are not going to come back easily.The thing to remember is you don’t lose your money in the super fund , as long as you have enough income so you don’t have to withdraw money when it’s low.
Try not look at it as savings gone but rather the growth gone. Might ease the pain.Understand that it's all about finding the right balance. Not sitting there worrying about it all night, and there are fallback options, but if there's another 25%-30% decline as there was 10 years ago, that's a lot of savings gone that are not going to come back easily.
Well maybe we women have a different perspective of him. . But we won’t go into it on this thread.I remain amazed at the ongoing misjudgment of Trump.
He presents as street smart , street cunning , and street dangerous .. a heady combination
I also choose to believe that he really wants to make America Great (according to his vision of that descriptor.)