Most of us have never been taught how to make a fortune. We are all taught to save money for something we need.
But did you know that you will have more money if you invest the correct places, than to save?

Elayne Taylor wrote on Sep 10^th, 2012 at 8:54pm:


And, you have an investment to suggest?

Elayne Taylor wrote on Sep 10^th, 2012 at 9:29pm:


what is SMSF?

Elayne Taylor wrote on Sep 10^th, 2012 at 9:29pm:


In fact, in Australia there is a government legislated "Super Guarantee", which means workers are involved in part of their salary automatically going into Superannuation.

There is then a choice of whether you leave it to one of the "Super Managers", such as the AMP, to manage your super funds OR whether you elect to run your own SMSF.

Depending on your situation & knowledge, it may be better going one way OR the other.

That said & whatever you elect to do, you need to be aware that the current & future circumstances are very different to almost anything that has happened in the past!

We have already had one major share market dip, which would have impacted the returns on pretty much all Super Funds, either Self Managed or Industry managed.

The Global Economic basics are now shaping up for another major dip, some time between now & the end of 2014, so whether you are in a Self Managed or Industry managed fund, you should pay great care & attention to how your assets are used.

IMHO opinion, Global share markets are likely to take another hammering and when the next dip comes, the losses could range between 60-80% off their all time October 2007 highs, across Global markets, which may see the All Ords fall to between 1350 to 2700.

So, if your circumstances are such that a SMSF is they correct option for you, then you may like to seriously consider how much of your fund goes into shares & how much goes into "CASH"?

There are also industry funds, where YOU can specify how much you want in shares & how much in "CASH", etc.

Of course, there is also the Real Estate investment option, but for various reasons, mainly Demographic based & related, I would see the share market declines being closely mirrored by the Real Estate market.

In short, the period ahead, which may be several decades, is certainly more about "the Return OF your Capital", rather than " the Return ON your Capital"!

If you run your own SMSF, but are no longer in the workforce, you should also review your situation to see if that is still the better option, bearing in mind your Fund Assets, the Costs involved in maintaining the Fund & the current tax regime?

Finally & in the words of one financial advisor, you should "tread your own path", as only you know your circumstances.

Mnemonic wrote on Sep 11^th, 2012 at 4:13pm:


And you can use it to buy a chocolate bar every 3 months....

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I use the "Ubank" usaver. It's an online bank backed by the NAB and govt. guaranteed (in fact it is the NAB).
I find it to be very good. They pay 5.71% if you set up an automatic deposit of $200+ per month.

Money can be transferred out at any time without penalty.
I can even transfer more money out than I deposit in each month without losing the bonus interest rate.

Quote:


Well if you could point me in the direction of this disclaimer, it would be appreciated.
I usually consider myself fastidious in reading disclaimers and reviews before I buy a product.

... wrote on Sep 12^th, 2012 at 11:44am:


Doesn't leave much life enjoyment?

Is there a point to earning &/or accumulating "money", if not to enjoy life with?