Thread: Losing Ya " Super ". Ya shittin yet ?

Originally Posted by can123

You should consider reducing your involvement in the more volatile markets and settle for smaller returns in safer investments so as to minimize capital loss.

The market will eventually recover, it always does. The trick is to stay alive until it does.

Our fund is considered very conservative but us Fund members can move our money around within our fund and chase bigger returns.

I seen guys do this and lose big time in 2010 when shit went down in the markets. All the extra dollars they made investing in higher returns were lost and more on Top.

I never do this, I just stay in the conservative side of the fund and plod along gaining steady returns in Exchange for less risk.

On the other hand I had a mate who recons the world was going to go tits up, this was two years ago.

He pulled his money, put it in the Bank and made around 3 %. Had to pay tax on that as well.

That year our fund returned 10% plus.

So in the End, go conservative, just plod along getting steady returns and take a few loses.

If financial advisers know so much why aren't they billionaires investing there own money.

But then I suppose its easier when someone else loses from your mistakes, provided you dont have a conscience that is.

I knew a financial adviser who was so good that when his client went broke he was good enough to buy his Jaguar collection at a bargain basement discount price. What a top bloke.

Originally Posted by birding

If financial advisers know so much why aren't they billionaires investing there own money.

But then I suppose its easier when someone else loses from your mistakes.

You can bet your Balls that financial advisers do not put their own money where they have put their clients.

If they did they would go down the shitter with their clients.

Don't happen does it.

And yet the gullible give the gimps all their coin.....

Originally Posted by terry57

Originally Posted by birding

If financial advisers know so much why aren't they billionaires investing there own money.

But then I suppose its easier when someone else loses from your mistakes.

You can bet your Balls that financial advisers do not put their own money where they have put their clients.

If they did they would go down the shitter with their clients.

Don't happen does it.

Terry, you are bing a bit silly now. Do you really think the guy down the road from me has been successful by getting his clients to lose all their money ? Of course he takes his own advice. The banks were crooked organisations in my time as an adviser and there were many crooked people working for them. The independent financial adviser had to succeed for his clients or he was in the shit with no job and no income.

Originally Posted by Nawtier

And yet the gullible give the gimps all their coin.....

.... and so we can reasonably believe that you know where money should be invested at all times ?

Can't take it with you when you're gone, but I want enough to get there on. And I ain't never growing old, so I keep on going with the flow.

How do I post these Videos?

Human nature, greed keeps you in the market believing it will still go higher. Some panic sell at the lows trying to preserve what they have left.

I can say I have never "lost" money in the stock market as I have more $value than I invested. That said their was a month or three ( 2014 Dec, 2015 Jan & Feb) where I "feel" I paid too much for certain stocks. Truth is the same stock is back to the valuation that Im more than happy to buy at. Dollar cost averaging I wish it would go lower.

My coworkers cringe when I say that but they just dont get it! Im happy to reinvest Dividends at a reasonable price.

Truth be told Im down a lot from the high and damn it I knew It was the high. Like I said human nature to be greedy. All the signs said the bull was out of steam. Last Jan I was looking at the past valuations and thought Id be happy with that no matter what the market does. Meaning I should pull out and wait for Armageddon. Didn't and now off a lot. Took me nine months to stop kicking myself. The last dividen payout in Sept helped.

Originally Posted by can123

Originally Posted by Nawtier

And yet the gullible give the gimps all their coin.....

.... and so we can reasonably believe that you know where money should be invested at all times ?

Never used one....never felt the need for an 'employee' on a wage to give me wealth/investment advice.....its a strange phenomenon. ...a stranger that is not wealthy themselves giving investment advice and people accepting it because they work in a bank or a franchised investment office...

Originally Posted by can123

Terry, you are being a bit silly now. Do you really think the guy down the road from me has been successful by getting his clients to lose all their money ? Of course he takes his own advice.

The independent financial adviser had to succeed for his clients or he was in the shit with no job and no income.

It's a land mine out there mate, unfortunately not all Advisers are like your successful mate down the road.

I suppose at the end of the day an Adviser is only successful when making money and if not he's a failure and one ain't happy.

Sort of like a car salesman innit, if the guy sells you a good car you are happy but if he sells you a lemon one wants to put a cap in his arse.

Be Interesting to see how my Fund survives this financial downturn.

I've been in it for 35 years through worse shit than this and we worked through it at the end of the day.

I'm not worried, ups and downs innit.

How much would you need in your Super to draw out $50-60,000 a year? I'm guessing around $750K ... am I close?

^

In Australia one can draw out from his fund what he wants Tax free as long as it's under 185 K. You can take it in a lump sum or spread it over the 12 months.

This amount changes each year for Tax purpose.

Back to your Question.

50 K is $ 961 per week.

750 K @ $ 961 means ones stash will last 15 years as long as shit don't go down and the initial amount is not diminished by circumstances such as is happening now.

We never know how the future markets will go so it's Important that when the good times come round one's stash is being topped up with a nice bit of Interest being added.

This is where smart conservative Investing comes into play.

The above example is for my fund, other funds may differ.

Further more,

Most Australians retiring who have a wife, a house and a bit of fruit would look at drawing 50 K per year from their Super fund .

That ain't much money in Australia simply because the place is so fookin Expensive.

Retirees like to do shit as well, so that cost a lot of money in Australia.

Glad I'm in Thailand. Don't need anything like that to live a good lifestyle.

750 K in ones Superfund ain't a lot these days, most looking at a Million for a very comfortable retirement.

1000000usd or 1440000aus is not that much these days. Their are those who see this amount as a daunting task to achieve so they give up. Become wards of the nanny state. They count on social security to servive. Thus places that have low cost of living look appealing. Thailand being one is not a bad choice. Property tax alone is one reason to bail out of the west.

I'm shure its the same down under. I see comercials for reverse mortgages so the elderly can stay in their homes. If you cant sell or rent it out to break even may not be a bad thing.

I think Terry is doing it right. Rents his house (for profit I assume) and plays in Thailand. Can't be all that bad. I'm envious. I'm sure most on TD have their eyes on a simular goal. Yup Terry's living the dream and I'm waking to reality. I'll practice my down under lingo by saying "good on ya mate".

I'll get there when I'm done running the rat race. I need a bigger boat or so I think. Meanwhile the powers that be are thinking of more ways to rob Peter to pay Paul.

Reminds me of a Buffalo Springfield song. Tax the rich feed the poor till their are no rich no more. I'd love to change the world but I don't know what to do so I'll leave it up to you. The fish

^

The two big things in my life that I have done right are as follows.

1. Being lucky enough to be in a Job that I liked, paid well, Made me join their Super fund at age 21 and was a respected career. Because of this I stayed with it all my life whilst traveling regularly.

2. Owning and paying off my house by age 53.

In between, there were quite a few fuk ups.

Originally Posted by terry57

there were quite a few fuk ups.

yes takes a few fvck ups, a few mistakes makes the world go round.
having your back against the wall is the big one.

^

There was one quite significant choice that turned out to be the best move of all.

Never getting married.

I'm happy to say that after a brief hiccup my super is heading back in the right direction. In the last three weeks my super has gone back up $1750.

I don't have any super....i feel left out

Originally Posted by Nawtier

I don't have any super....i feel left out

Nothing wrong with being different.....

I only have minimal super as most of my working life has been abroad.

I'm 55 now, so will start looking at how to cash it out next time I'm in Oz.

I've been working a broad. Oh no, in reality she's been working me.