How Are You Changing up Your Super to Deal with The Current Economic Situation?

Jaspa7 on 26/06/2022 - 23:39
Last edited 27/06/2022 - 11:36

So I've been lazy and checked in on my super account for the first time in 4 months. I'm with Australian Super and I like that I can change my allocations between:
High Growth
Balanced
Socially Aware
Indexed Diversified
Conservative Balanced
Stable
Australian Shares
International Shares
Diversified Fixed Interest
Cash

Not sure if other companies allow you to do something similar…

Before, I think I had 70-30 split between high growth and balanced respectively.
After viewing the losses (everything other than cash is going down somewhere between 1-3% per day), I've decided to split mine:
40% Cash
30% Aus shares
20% Balanced
10% High Growth
Was this a good idea? Curious to see the financially savvy OzBargainers' thoughts…

UPDATE: Okay, so it seems the consensus is that I'm an idiot.. but I think the key thing people keep brushing over is that though the market has plummeted a little bit, it's still in for lots of crashING.. I'm expecting it to continue being very bumpy over the next year (2-5% ups and downs, but netting below zero). When it looks like it can't get any worse, isn't THEN the time to configure back to something like 20 Balanced, 40 Aus shares and 40 High growth?

Poll Options

  • 253
    Who cares, I'll deal with it when I'm old
  • 11
    It will recover, but might pay to have some insurance (<20% cash)
  • 2
    Could go either way (~50% cash)
  • 21
    We're in for a storm of excrement (>70% cash)
  • 22
    Other
Financial Superannuation

Comments

  • chrisn26 on 27/06/2022 - 00:00
    +8

    Seems like a lot of cash to hold in super unless you're planning on drawing down the account soon-ish (like funding retirement, using the FHSS or the next scheme to let people draw down super early).

    • Jaspa7 on 27/06/2022 - 00:09
      -2

      What else can you do with it though? We've already bought our first house (~320k, nothing to brag about) and retirement is more than 20years away..

      I'll change it back in about a year or so if the situation improves

      • pais on 27/06/2022 - 10:47
        +46

        Your current approach is basically "market crashed, better sell now" and then "reinvest once the market recovers" which is the anti-thesis for what you want to be doing in investing because you've completely mistimed the market. It's selling low & buying high.

        If you're in it for the long run (e.g. 20 years), then don't look at it for the next six months. If you need the cash quickly, then you're too late to the sell game anyway so you're going to take a bath..

  • Hybroid on 27/06/2022 - 00:12
    +3

    Hmm, this post got me thinking. I haven't ever touched my super nor even checked up on it. No idea how much is in it nor that you could change and play with funds! Never receive statement or any communication about it either.

    It was setup by employer years ago and don't even know how to access it… Thought it was similar to the UK pension where employer pays in and you don't touch anything until eligible age to receive payments. Seems there's more involved control here.

    Need to figure that out tomorrow. Thanks.

    • Caped Baldy on 27/06/2022 - 12:27

      If you're young and healthy with no dependents I'd recommend considering to cancel the health and death insurances. They eat up quite a bit.

      • Jaspa7 on 27/06/2022 - 12:29
        +12

        No dependents, agree.. but ~$20 per month for a pay-out of ~$200k to your loved ones if the worst happens.. no, I'd keep it

        • nobro25 on 29/06/2022 - 22:23
          +1

          Cancel now and reapply the when you're 50

      • Specialist Diaz on 28/06/2022 - 15:35
        +5

        Don’t cancel TPD insurance. Better to be a paraplegic with money than without.

        • Mr Haj on 29/06/2022 - 11:42
          +1

          Yes for sure. Don't need death insurance if you don't have any dependents but TPD is important. It would be unfair to place financial burden on your family/friends if you were to have an accident.

      • crentist on 29/06/2022 - 15:47
        +2

        Yea sure if you're gonna plan for a long life.

        Then again, I knew a disorganised guy who passed away at a young age in an accident, who had over 5 super accounts opened by various employers, which gave his parents a decent sum of money to buy a very nice house in a new area away from painful memories and daily reminders of their tragedy.
        Which um, might have been some minuscule consolation.

        In any case, this might only make sense if you have no next of kin at all, like an orphan, or if you are young and healthy and also wealthy, with no dependents.
        Otherwise there's probably not a huge window between being a penniless dependent with no savings whatsoever, and having some savings but also more people to care about. In either case, that extra money can make a big difference to whoever next of kin may be.

      • MuddyClear on 30/06/2022 - 10:46

        Doesn’t apply to just dependents. Your spouse/defacto/partner can also benefit from it. Best to keep death insurance.

        Regarding TPD, you can cancel it unless you’re working in a risky profession or risky lifestyle (eg. extreme sports). Note If something bad happened at work you would be protected by work over anyway. Although accidents can happen outside of the workplace it’s very rare, and most people are unlikely to get disabled. Your choice

    • Jaspa7 on 27/06/2022 - 12:27
      +1

      Not recommending my response, but it is at least worth reviewing to make sure you'll be happy with what risks have been taken with your money when you retire

    • greatlamp on 29/06/2022 - 16:11
      +2

      1.Use the ATO tool to find a super product with good performance and low fees

      https://www.ato.gov.au/Calculators-and-tools/YourSuper-compa…

      2.Open an account

      3.Use the menu option in MyGov online tax return tool to roll your existing super into the new company. This will also instruct the existing super to close your account

      • Hybroid on 29/06/2022 - 21:32

        Thanks for that, plenty to go through and consider.

      • Munki on 30/06/2022 - 15:18

        *Past performance is no guarantee of future results.

        • greatlamp on 30/06/2022 - 17:25

          The main thing is to pick the fund with the lowest fees.

          All funds were operating in the same environment, so while 'past performance is no guarantee of futureresult' it is fair to compare one fund to another.

          I saved a lot switching from the fund my employer signed me up for.

  • rektrading on 27/06/2022 - 00:24
    +16

    .#High Growth is the way.

    • Jaspa7 on 27/06/2022 - 00:25
      +8

      Name checks out..

      • Quantumcat on 27/06/2022 - 08:49
        +1

        Not unless the option is High Losses

        • Chandler on 27/06/2022 - 10:32
          +3

          You have to break a few eggs to make an omelette.

          • Munki on 30/06/2022 - 15:18

            @Chandler: What if I put all my eggs in the one basket though?

            • kmwa on 01/07/2022 - 16:20

              @Munki: I think that was just a frivolous question, but I've actually got a serious answer.
              In the last few years of building up my super, and now that I'm in pension phase, I've maintained two separate accounts with different super funds. I know that you get a lot of encouragement to consolidate super funds, and for young guys with 4 or 5 funds, that is very sensible.
              But I'm super cautious, and I don't want all my retirement money disappearing because one fund goes belly up. Yes, I'm paying double fees, but it gives me peace of mind. And I can easily compare the two and check if one is underperforming.
              Super cautious, yes. That's a consequence of my private pension in the UK with Equitable Life shitting itself. I mean, Equitable Life with a track record of 250 years of insurance and pensions getting it wrong - who would have thought it? I certainly didn't, and I'm still regretting it.

              • Munki on 01/07/2022 - 16:47

                @kmwa: So what you're saying is you've placed half your eggs in one basket and the other half in another…Not quite the same scenario.

                Have you found it making much of a difference to have the two funds separately? How have they performed against each other?

                • kmwa on 02/07/2022 - 12:45

                  @Munki: During super accumulation, I had the money divided between REST and HOSTPLUS. (Industry funds generally perform better than commercial funds). I had a 50/50 split in each between High Growth and Property. I saw that REST had extremely poor fund performance (lower returns and higher fees) in 2015 and 2016, better in 2017 (10%), so I transferred all the super in REST to Unisuper.
                  Moved into pension phase in 2019, and have seen small differences between Unisuper and HOSTPLUS since then, and small differences between High Growth and Property, but not enough to need to take any action.
                  Having two separate funds is also useful to compare how they report on your finances and the growth of the different asset classes.

      • [Deactivated] on 28/06/2022 - 17:17

        I switched all my balance to member direct, form there I bought APT shares when it was $10 and sold it above $100, now my super is > $1m. I still got decades till I reach my super withdrawal age.

        • Ruckmauler on 29/06/2022 - 12:45
          +2

          This sounds like BS - but I will happily stand corrected. Member Direct only allows a max of 20% of your super to go into any one share:

          › Maximum 80% of your total AustralianSuper balance in shares, ETFs and LIC
          › Maximum 20% of your total super balance in a single stock, ETF or LIC

          The sums might work with a starting balance of $350,000 - invest $70,000 in to APT - turning that into $700,000. Had you already accumulated $350,000 in super with "decades till I reach my super withdrawal age"?

          • [Deactivated] on 29/06/2022 - 15:33
            -6

            @Ruckmauler: I have half a mil starting balance.

    • surg3on on 28/06/2022 - 13:34
      +1

      Graph all the options over 10-20 years. You'll see over the cycle they all perform about the same. So..go for lowest fees.

      • OldnBroke on 30/06/2022 - 14:49

        Just graphed mine (QSuper) from 2005 to the present and there is around 25% difference in performance between the set "Moderate" (low performing) and "Australian shares" (high performing) options.

  • freefall101 on 27/06/2022 - 00:28
    +40

    Sell low, buy high, sounds a good investment strategy

    • altomic on 27/06/2022 - 07:39
      +6

      username checks out

    • poboy on 27/06/2022 - 07:47
      +4

      Lock in those losses.

  • kmwa on 27/06/2022 - 00:55
    +39

    Your plan is basically to cash out 40% of your super after the market has just crashed, which will lock in the losses and give your super no chance of recovering. Buying back into the market in a year means that you are selling low and buying high.
    As you have 20 years before you need to convert your super to a pension, you should really leave as is, or even put the 30% Balanced into High Growth, leaving you entirely at the whim of the stock market. You will see frightening losses every three or four years, but the overall trend will be one of satisfying growth.
    The question is, can your nerves stand it? You are obviously panicked by the current economic situation, and having everything in High Growth needs confidence in your investment plan and nerves of steel.
    The people who talk about timing the market (buying and selling at the right time) are like problem gamblers who only tell you about their wins, and not their crushing losses.

    • INTP0151 on 27/06/2022 - 05:56
      +5

      This is assuming the worst is over……

      • sackrace on 28/06/2022 - 02:29
        +5

        If you're not selling then who cares what prices are doing?

        Just means your dividends are reinvested at better prices.

        • rektrading on 28/06/2022 - 09:22

          If you're not selling then who cares what prices are doing?

          It makes a difference for people who want to pamp more fiat 💵 into the scheme.

    • Almost Banned on 27/06/2022 - 11:28

      I don't think that's how it works.
      I thought that when you change your asset mix in Aust Super it doesn't sell out your existing investments - it simply changes the way future contributions are distributed.

      • Jaspa7 on 27/06/2022 - 11:32
        +2

        you can do either or both.. current and future contributions

    • Jaspa7 on 27/06/2022 - 11:31
      -7

      Your plan is basically to cash out 40% of your super after the market has just crashed

      Hardly a crash, a downwards blip that I'm expecting to get a lot worse

      You will see frightening losses every three or four years

      What if all the financial experts can warn you when they're coming? Shouldn't you try to mitigate them?

      having everything in High Growth needs confidence in your investment plan and nerves of steel.

      Disagree, it needs confidence that the fund managers know what they're doing.. and having lost ~4% FYTD is not a good sign.
      Again, this is not a long term strategy.. I'll return it once the worst of the rate rises are over, markets have bottomed out and stocks can be expected to resume their climb of roughly double inflation.

      • rektrading on 27/06/2022 - 12:04
        +1

        and having lost ~4% FYTD is not a good sign.

        A -4.0% YoY drawdown is a bad sign, really?

        • Jaspa7 on 27/06/2022 - 12:17

          none of the comments have mentioned this.. so yeah, worth pointing out

          • Mr Haj on 29/06/2022 - 11:51
            +1

            @Jaspa7: YTD ASX and S&P500 are down 12% and 20% respectively. I would not be alarmed by losing 4% of your superannuation balance. Sounds like it must have been fairly conservative to begin with. Go ahead and transfer it all to cash and complain in 20 years when you're dissatisfied with your pension.

      • dtc on 27/06/2022 - 17:27
        +4

        Have you heard of the efficient market? Sure it’s not 100% correct but it’s pretty close. if you are saying the market will go down further then you are betting against the market, because it has already factored in the risk of the market going down further…

        Sure that risk changes as new information becomes available, but you are guessing that the new information will be worse than everyone else in the market expects it to be.

        Now, for sure, you make above average returns only if you bet that the market is wrong and it turns out the market was in fact wrong. If you want to make that bet then of course go for it - but understand what you are doing ie you are betting that almost everyone else is wrong and you are right.

        To think it’s ‘obvious’ the market will go down more is not at all obvious unless everyone else is an idiot.

        And to know when things have bottomed is impossible. Say you see up now and the market drops 10%. You think you are very smart. Market bobbles up and down a bit, then within the space of 3 days goes up 12%. Do you buy? Maybe it’s a dead cat bounce. Then up another 5%. Do you buy - you have now made a loss (vs just holding). Can you make that call?

        Finally- the share market (indeed every investment other than cash) is never positive every year. It’s positive over the long term, historically. The long term is longer than a year. If you can’t cope with a one year or 3 year downturn then don’t invest in anything

        • rektrading on 28/06/2022 - 09:23
          +3

          How do you know when that is? How do you make sure you don't buy in to a false bottom?

          👀 for local bottoms.

        • leeroys_dad on 28/06/2022 - 21:08

          doesn't matter if it's a false bottom. better off having picked a fake bottom than doing nothing at all

    • htc on 28/06/2022 - 06:42

      Would change in Jan this year and change back to high growth last week make a big difference? Btw, did anyone change super to cash in Jan this year?

  • [Deactivated] on 27/06/2022 - 01:37
    +2

    50 % balanced 50 % growth

    ironically, growth is losing a lot less money than balanced is even with the market the way it is. probably going to switch to majority growth as i am unfortunately decades away from retirement, so it will be ready to spring back and ill hopefully make all of it back and then some, either way i don't have to worry about it for a long time.

    • WhyAmICommenting on 28/06/2022 - 14:41

      This is the way, although I’m a touch more in aggressive/growth - 70/30 since I’m only about 40.

      The aggressive has outperformed balanced over the last 10 years.

      Qsuper FTW.

    • Mr Haj on 29/06/2022 - 11:56

      Most growth funds are still more conservative that 100% shares and contain ~15% of cash/bonds

      You can't access the money for another 20 years. Set it to growth for the next 15 years and start to think about being more conservative when you approach retirement age.

  • El-Rhi on 27/06/2022 - 06:31
    +9

    Increasing your cash position in super requires timing the market twice…. On the way down (which you’ve missed) and the way up. What’s your strategy of when to decrease the cash portion back to growth? If you have 20 years to retirement, why mess around with it, as you’ll likely lose out on growth on the way back up.

  • SBOB on 27/06/2022 - 06:46
    +4

    Leave it all in high growth as I have plenty of years left, and timing market exit (which you've already failed, by exiting to a large cash portion after a significant market drop) and market entry is not easy (and just adds to another thing to regret when you f$*K it up :) )

  • brendanm on 27/06/2022 - 06:53
    +10

    Put it into cash 2 months ago.

    • Jaspa7 on 27/06/2022 - 12:32

      next two months don't look much different to the last two months…

      • brendanm on 27/06/2022 - 13:23

        That's the point.

  • Benoffie on 27/06/2022 - 07:33

    I was in High Growth but moved to Balanced. Depending on your fund, depends on what this achieves. For me, it removed my exposure to DJ and US tech stocks.

  • rektrading on 27/06/2022 - 07:45
    +2

    Before, I think I had 70-30 split between high growth and balanced respectively.

    I've decided to split mine:
    40% Cash
    30% Aus shares
    20% Balanced
    10% High Growth

    Panic selling bottoms and FOMO tops is an art form mastered the🦎 🧠.

    Resisting the primal emotion of fear takes 100s of hours of not giving a 💩 either up or down.

  • payless69 on 27/06/2022 - 08:13
    -1

    3 cheers for the friendly staff at the ATO who guided me thru difficult times.
    After years of receiving abuse from a Suncorp reseller they finally let me go.
    It is a jungle out there, take your time and do all the homework to suit your personal circumstances.
    Use a calculator to choose best returns vs fees charged.

    • idonotknowwhy on 28/06/2022 - 17:00

      How did the ATO help you?
      I agree though, the staff are very friendly and helpful when I (profanity) up my tax returns.
      Upvoted to offset the downvotes

  • Bid Sniper on 27/06/2022 - 08:33

    What makes you think that you are smarter, more experienced, better educated than mangers working in your super fund at their own job?

    • rektrading on 27/06/2022 - 09:16
      +3

      smarter, more experienced, better educated than mangers working in your super fund at their own job?

      😆

    • Jaspa7 on 27/06/2022 - 12:38

      What makes you think that you are smarter, more experienced, better educated than mangers working in your super fund at their own job?

      The fact that money just sitting in the bank would've been 6% (+2% vs -4%) better off over the last year..

      • pilchard on 28/06/2022 - 15:20
        +5

        The fact that money just sitting in the bank would've been 6% (+2% vs -4%) better off over the last year..

        That's a very small time frame to be making comparisons on for a long term investment.

    • Whomastadon on 28/06/2022 - 14:51

      The fact I don't have a vested interest to keep my money in their account regardless.

  • seraphim2017 on 27/06/2022 - 08:49
    +3

    If you move out of high growth when it's low, won't you have crystallised your losses?

    If you didn't have a crystal ball to plan ahead, (like me, mostly High Risk), personally I'm just leaving it as I chose high risk due to being decades from retirement so time for good gains and inevitable fluctuations?

    If you move to a lower return potential while your investment is down, then you'll not reap the rewards of increased gains, only the disadvantages of higher risk?

    (Not financial advice, I'm barely numerate, simply what I am doing with mine in my position!)

  • Tiredman on 27/06/2022 - 09:03

    Defensive on the way down now YOLO high risk. Not much anyway.

  • Ocker on 27/06/2022 - 09:10
    +5

    Brilliant idea - sell your shares at what is near the bottom of the market and place the proceeds into cash.
    Guaranteed that sometime between now and when you want to retire the share market will be reaching new highs.
    That aside, if you are basing your decision on the understanding "everything other than cash is going down somewhere between 1-3% per day" then I would change my source of information.

    • rektrading on 27/06/2022 - 09:20
      -1

      sell your shares at what is near the bottom of the market and place the proceeds into cash.

      The market will damp another -20.0% after a -20.0% cliff dive.

    • Jaspa7 on 27/06/2022 - 09:41

      Every rate rise has had this as a consequence.. and we're due 75 basis points next month and ~50 more every month till the end of the year.. surely this means we're very far from a bottom?? I'll return it to 70-30 high growth/balanced in september or so..

      • kipps on 27/06/2022 - 10:25
        +11

        The market already knows this information. You’re working on the basis the market won’t price it in until the rate rise actually happens - this is incorrect.

        • Jaspa7 on 27/06/2022 - 10:29
          +1

          This is somewhat true.. but they knew it (incoming rate rises) before as well, and it (stock plummets) happened anyway..
          Why would next time be any different?

          • kipps on 27/06/2022 - 12:17
            +5

            @Jaspa7: The research is well and truly in. Timing the market doesn’t work. You’re trying to time both entry and exit. It won’t work. There’s a solid book on this called Behavioural Investor. It’s a great reason why women are better investors than men - they’re more likely to do nothing when markets move.

            • Jaspa7 on 27/06/2022 - 12:23

              @kipps: I'll confess to that.. but not entirely - I didn't put 100% into cash. As for how successful it will be, well, only time will tell.. but in 20 years it will be too late to do anything about it

            • Jaspa7 on 27/06/2022 - 13:36

              @kipps:

              solid book on this called Behavioural Investor

              I'll look into it, thanks.

              more likely to do nothing when markets move

              surely it's more important to diversify and and anticipate before the markets move - granted, you can't know exactly what/when things are going to happen, but you can look at the general trend and the fact that we've seen way to much unsustainable growth over the last decade, indicating we're due for a large correction

              • Scope on 28/06/2022 - 02:18
                +2

                @Jaspa7: No, its better to leave it alone. Peter Lynch said it best:

                “Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.”

  • onetwothreefour on 27/06/2022 - 09:17
    +3

    Not touching it, it's been in high growth for a number of years which has been very good for its balance. I haven't checked the balance since the start of the year and I don't plan to check it again until after this crash has finished and we are on the way back up. I'm 40 so have a lot of time to ride this crash out and probably the next two crashes also.

  • redfox1200 on 27/06/2022 - 09:32

    good idea, go to cash while everything is dropping, then buy back once recovered.

  • netjock on 27/06/2022 - 09:50

    Too late now to make any changes.

    Depends on how old you are. If you got 10 years+ then put it all into growth. Humanity just keeps on marching forward. If in the event of an apocalypse, your super is the last thing you would be worried about.

  • rektrading on 27/06/2022 - 09:59

    It's never too late to change from 🐂 to 🐻 and from 🐻 to 🐂.

    Don't marry a position. Let someone else hodl the 🎒 if the price moves in the wrong direction.

    • Jaspa7 on 27/06/2022 - 12:48

      from 🐂 to 🐻 and from 🐻 to 🐂.

      yes, love me some metamorphosis to/from moose to mouse

      Let someone else hodl the 🎒

      Is that a.. sentient cube emerging from a handbag?

  • Trying2SaveABuck on 27/06/2022 - 10:16
    +1

    at the moment i am 'balanced' if we go into recession ill move to ultra high risk.

    otherwise im not touching anything happy with ~9% returns pa over the long term (Part Performance doesn't guarantee future performance)

    however if the markets end up on its knees ill go all out attack

  • trapper on 27/06/2022 - 12:06

    If your not retiring in the next 20 years just keep it all in high growth domestic and international shares and don't worry about it.

    Definitely don't sell (swap to cash) after a dip.

    The only time that would make sense was if you anticipated the dip and swapped to cash before it happened. And now you would be swapping back to high growth.

  • El-Rhi on 27/06/2022 - 13:19
    +3

    It looks like OP has their mind made up and is looking for validation for the decision.
    If you’re comfortable in moving to 40% cash now and think the market will fall further (or you will sleep better having this more defensive position), then that’s all that matters.

    • Jaspa7 on 27/06/2022 - 13:30

      maybe.. though open to other options (that's not sitting on my hands and pretend nothing's happening).
      Ideally, I'd take it out and just put it in a short term deposit that will guarantee 2-3% for the 6 months.

      • El-Rhi on 27/06/2022 - 14:14
        +3

        See if you can access a financial adviser through your super fund - some provide free of charge. They will be able to talk you through the options

        • Jaspa7 on 27/06/2022 - 14:16

          See if you can access a financial adviser through your super fund - some provide free of charge.

          Not a bad idea.. though would expect them to be biased towards their own company

          • El-Rhi on 27/06/2022 - 15:18
            +2

            @Jaspa7: It’s more so about asset allocation

  • md333 on 27/06/2022 - 13:19

    I did something similar in 2008. Have just taken the opportunity to put the 10% of fixed interest I had then back into balanced when it is looking less overpriced.
    (a bit disappointed that fixed interest has actually been dropping in value recently, I misinterpreted what it means).
    Could regret it if there is a proper depression coming but if that was guaranteed, then it would be priced in already.

  • nswnotill on 27/06/2022 - 13:40

    Not touching it, it's been in high growth for a number of years which has been very good for its balance. <

    I agree. Plenty of recent years when super returns were a long way ahead of inflation rate

  • Dave Bowman on 27/06/2022 - 15:14
    +2

    I finally set up an SMSF this year.

    • Jaspa7 on 27/06/2022 - 15:32

      How hard was it? How much return are you expecting vs the typical super mob?

      • Dave Bowman on 27/06/2022 - 16:27
        +3

        It was relatively easy through esuperfund, with a lot of paperwork. Took a few weeks all up for everything to be transferred over.

        I'm expecting much larger returns, but with a higher risk investment than traditional funds. I'm self employed and don't make contributions, so this is a chance to have it actually do something other than make a small % increase each year.

        • gromit on 28/06/2022 - 10:13
          +3

          thought about doing similar, the problem with the much larger returns though is it also means you are at risk of much larger losses. It is a 2 way street, the higher the risk the better the return but also the more chance of a big loss. I feel sorry for a lot of people that pulled a lot into super and bought a heap of crypto at or near the peak,

          • Dave Bowman on 28/06/2022 - 10:25

            @gromit: Yep, worth the risk in a bear market though I reckon. I missed setting up an SMSF the past two bears because I thought it would be too much hassle. Not missing this one.

            • JayEmmGee on 28/06/2022 - 11:08

              @Dave Bowman: Interested to hear what your approx balance is and what you plan to invest in. It's funny the number of people with low balances who think SMSF is the answer to 'do better' but end up investing in the same funds you can in a (relatively) low cost retail or industry fund!

              • Dave Bowman on 28/06/2022 - 11:42

                @JayEmmGee: 60k, 90% crypto

                • gromit on 28/06/2022 - 13:29

                  @Dave Bowman: I would have thought the fees for self managed would be pretty killer at such a low super level or has that changed? but I guess you are just looking to gamble the lot, hope it comes off for you,

                  • Dave Bowman on 28/06/2022 - 14:43

                    @gromit: It's about 1k per year with esuperfund, and the first year is free. The 10% cash is basically for end of year fees until it pays off. Will diversify later.

                    • gromit on 28/06/2022 - 15:49

                      @Dave Bowman: I guess you can always push more funds in if it hasn't made any returns before the cash runs out otherwise you will have to start eating the investment assets.

  • rektrading on 27/06/2022 - 15:29
    -2

    Plebs trying to beat the market.

    https://tinyurl.com/m2tmf7k9
    .#NSFW

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