Superannuation ripped off again

Wizardofoz · Guru

RE: Superannuation ripped off again

Aus-Kiwi · Guru

I guess our ages on here are over 50 ? The thing is some plan needs to in place way before that.. Trying to make money work for you..
The pension age is 70 ! Good luck waiting for that ..
I've heard so many stories about tenants etc .. With insurance you get most the damage back plus rent ..
It's still a business and its up to you to look after it even if it's managed by real estate . Who generally have a young girl looking after that section . Also doing house inspections etc.. You wouldn't have a $40k car uninsured.. Why have a few $100.000 uninsured ?
Then blame the system .. Another .. Don't purchase where you like to go on holidays .. In most cases there's no employment there...
Have friends that rent bugger all savings .. There rent is about half what they would get on pension .. They are 65 and 70 ...
Still working .. IMO don't rely on Centrelink ...

yes things can go belly up.. Watching 60 min.. We tend to make excuses for our failings so we feel happy with our life..

Thats the main thing ..

-- Edited by Aus-Kiwi on Sunday 8th of November 2015 11:38:28 PM

rockylizard · Guru

Gday...

Cheers - John

Aus-Kiwi · Guru

Trouble is ..

Wombat 280 · Guru

aussietraveller wrote:
I was one of those conservative people who thought if I invested my super through the biggest bank I would be looked after and my money would be safe, surprise surprise I now believe that I was conned by the bank officer who was masquerading as a financial advisor and told me he didn't get commissions so he would be looking after my interests as his first priority.
Now some of you might think I was pretty dumb to believe him I know i now do but he was extremely convincing and gave a very good logical reason why I should invest my pension with the banks super fund term deposit because of the massive turmoil in the shares sector I now have the problem that the return on my money is not is not even keeping up with the current inflation rate.
The bank offered a review for anyone who thought that the advice they received from the bank employed financial advisor was inadequate, Golden opportunity i thought but i have now discovered that it was all a ruse and designed to keep the accc off their back and to minimise damage in the media.
I hear you ask which bank well i don't want to create a problem for the forum by naming them, I just wonder how many other Grey Nomads have been ripped off by this bank.

The old saying *Beware if Greeks bearing gifts" Unless your an actually share holder in the bank forget a fair return

Spydermann · Senior Member

I often chuckle when there are complaints about the obscene profits that large companies make. As most people have Superannuation these days and the Super funds are investing in the Blue-Chip companies that are making these profits, most of the people who are complaining are actually benefitting via dividends.

The other thing to remember is that although companies announce billions of dollars in profits, as a percentage of their assets they have been as low as 3%. If Joe Average was getting 3% on his assets, then he would not be happy.