What is the
Best Performing Super for 2016
What are their fees?
Also how hard is it to create your own Self manage fund?
And is there any fees or cost with doing this?
And can u invest it in a simple term deposit etc.. and is recommended to put it in a term deposit?
no
I just want to know if there is any pro/cons
and if there is any fees/cost?
or it is fee free, cos you are doing it yourself.
Not true. There are various platforms which handle all of the administration for it, from setting up the trust/trustees, setting you up with a bank account, doing the auditing and accounting, etc.
what about best performing super?
==
Is there is any pro/cons
and if there is any fees/cost?
or it is fee free, cos you are doing it yourself.
best performing super depends on how diversify your portfolio. e.g. aus shares, international shares, aus$, risky, safe, blue chip, etc
Comm super. Damn good super!
The general advice given out by "experts" is to stay away from retail super funds as they tend to have high fees and not so great returns.
EDIT: having said that, according to altomic's link above, CBA is one of the best performing funds over the last 10 years.
you really need to balance RISK against return. for each 1% outperformance the RISK MAY BE MUCH MORE.
I suggest AustralianSuper. No fees and good value on their insurance component. Solid performance short n long term
Couldn't recommend oher industry superfunds, most are design to profit "Special" members more then general members, check out their board lists and you get the idea.
Ditto Australian Super, I haven't seen it tank since the SGC started, and consistently a top performer.
They do have fees, but quite low comparing to retail fund. However ING Direct also has pretty low fee super fund.
Used to have Australian Super before I got sick of all their bullshit admin fees. ING Direct literally have zero fees.
there are layers of fees hidden within the fund performance which is net of fees
fund manager fees etc.
unless you are a planner smsf will have so many tax, investing and admin issues in spite of any platform you use as you need to be aware of all these things for the rest of your life. you are making decisions with smsf all the time. industry super will take care of this. and you can use etf investments if you dare. best just take conservative options. I got my fingers burnt many times. even right now!
Good value on insurance?
Have a read of the TPD definitions and when it pays out.
Also are they able to change the terms and conditions of your insurance policy at any time?
Not all insurance policies (to state the obvious) and research and care needs to be taken. Talk to someone who knows their stuff.
"Past performance is not an indicator of future performance. Please see the pds for further information"
:)
Do you wish to control your investment choices/asset classes? Or do you want to employ an expert to do this?
Expert?
Hahaha
I don't even know what this expert is investing in..
only thing I know is they are charging these admin fees yearly
which slowly drain your account.
Go self managed, check out www.squirrelsuper.com.au or similar. They do all of the auditing and whatnot, and you get to invest your own super however you want to (precious metals, property, shares) and you don't have to pay advisor fees or anything else. Total set up is about $2.5k (comes out of the super) and then it's about $110 a month (comes out of the super) which gives you access to their platform and covers the biannual auditing/accounting and whatnot.
Can't trust a Super co. that misspells 'hundreds' as 'hundrends' on their main page.
If you don't trust their spelling. Would you trust the testimonial from "Bernadette W." is genuine also, given that the image is just stock photography.
http://www.gettyimages.ie/detail/photo/close-up-portrait-of-…
Unless she made her money modelling which she now invests with squirrel.
A bit of a story:
Like lots of people, my first jobs were in retail, so my first super account was with REST. I tried to keep using REST as it kept things consolidated, but some employers were useless (possibly malicious) and just added me to their chosen super funds. A couple of years ago I was working for a financial management company and they used a retail super fund of their choosing (despite me nominating REST as my provider). I stayed at that employer for a few years and eventually checked what was happening with my super. This retail fund, nominated by a financial management company performed TERRIBLY. The fees were high, returns were low, a lot of the time the interest didn't even cover the fees. It took them 8 months to transfer the money away from the provider because they "had a system malfunction and lost my request".
I keep everything in REST at the moment. They seem to perform fairly well (notice that they're at the top of the best performers for the last 10 years) and have reasonable fees. As for that other retail fund, someone in the company must have been getting a good kickback from them because there was no rational reason to use them. I don't know how they can be kept accountable either (most fund managers are idiots).
If you want to convert to SMSF I heard these guys are ok. Thinking about looking into it:
How Retail and Industry Funds rank on past performance tables is dependent on the type of funds that they're reviewing (i.e. balanced, growth, Australian Equities) and the holding duration of the fund (i.e. 1 year, 3 years, 5 years).
I find these performance tables useful to analyse the funds: http://www.selectingsuper.com.au/tools/performance_tables
Somehow, Perpetual seems to have dropped off their list for some reason … so which fund managers that are included/excluded from the analysis needs to be taken into account.
Typically, I'd expect Industry Funds to be compared to Retail Funds where the Retail Fund is a balanced or growth fund.
Personally, I like to invest in the Australian Equity (Retail) geared funds, however the level of risk will vary with everyone depending on circumstances and age. Note that these tables include all fees.
For example, the Colonial First State Geared Share Fund has earned 15.7% (includes reduction for all management fees) over a 7 year period ending 31 Jan 2016. The equivalent Australian Super High Growth Industry Fund has earned 9.2% over the same 7 year period. However, if you look at 10 years, the Australian Super Fund comes out on top.
http://www.selectingsuper.com.au/media/library/SelectingSupe…
Another point is that if you join the retail fund through someone like CommSec, you won't pay an entry fee each time you deposit money (assuming that you print out the prospectus and forms from the CommSec site).
If you have to ask how hard to create a super fund- you should stay well clear!