9/- contribution cap increased from $25000 to $27500 /year
@AboutRetirementTV
2 жыл бұрын
this is correct, another big benefit, although a small increase if you ask me, thanks Tan 😀
@oodleyboo
3 жыл бұрын
Thank you for this info. I've always wondered why there are contribution caps. Do you know?
@AboutRetirementTV
3 жыл бұрын
Hi oodleyboo, thank you for watching and your comment. The main reason for introducing caps was that the system of allowing to contribute as much as you want to the environment that under super has very preferential tax treatment of 15% and even better NIL tax when in pension mode, was too much of the good thing for retirees and a huge tax loss for the government. So the decision was made to introduce those limits, to still make it enticing, but only to the limit. Would you agree? Katherine
@oodleyboo
3 жыл бұрын
@@AboutRetirementTV Yes, that makes sense. People that have money could use super as a tax dodge. Thanks for your answer
@huilu3890
3 жыл бұрын
So what can i do, i have my super half in Australia share half in international share, would that be impactef?
@AboutRetirementTV
3 жыл бұрын
There is no impact, as long as you are happy with this investment type, nobody, even government can force you to do otherwise. If you see your super performing really well for number of years and then market drops, so performance drops, this is not the reason to change super funds, even if it appears on that list. At the end of the day, this is your super, your money, your savings and your decision. Don't be "vanilla" 😀 Katherine
@AboutRetirementTV
3 жыл бұрын
Which of the listed changes to super you think is the best for you? 😀
@huilu3890
3 жыл бұрын
Why this publish worst super fund will not encourage super fund to invest for the best returns?
@AboutRetirementTV
3 жыл бұрын
Hi Hui Lu, thank you for watching and your question. Even today super funds always try to perform the best they can considering the economy, super trust deed and the investment philosophy of the fund. But in order to achieve better returns, super funds need to take greater risk and costs (research and transaction costs). So in order not to be on a "bad fund" list, super funds will step back from taking risks and reduce costs. It is just easier that way and reduces risk, just not to be on the "black list". I hope this makes sense. Katherine 😀
@vee6959
3 жыл бұрын
Naming and shaming of non performing super funds is not really helping those who have already lost their hard earned money in these non performing super funds, I am afraid. How on earth can an average person understand all this? It is all nice to go and see an advisor but there are so many bad advisors... Unfortunately, you only find out that their advice was bad after they took your money for that bad advice and as a bonus you loose even more money using that advice. On top of that what do you do if the stock market crashes and you need to draw the money from super fund? Very easily people put their money into super funds and in the end they end up getting less money from the super than they originally put in. I think that all this scheme only serves those who are making money on it - super funds industry and investment and financial advisors. It is not great for the average people. Average people would deserve to get an old age pension for the number of years their have worked. It should not be means tested and not income tested like in Europe which would enable them to save money or assets over their life time rather than feeding super funds. Also they could work and improve their situation plus keep the old age pension as well. It would be much simpler and fairer. I know you are not making these policies but I find this whole system in Australia very unfair and extremely stressful... Your videos are good, thank you
@AboutRetirementTV
3 жыл бұрын
Hi Verka, first of all thank you for watching and for you comment. While reading it, I could not help but think that you must have had a terrible experience either with your super fund or with an adviser, which is sad. I am not going to defend Financial advisory service, I believe it is just like in any other industry or profession, you will always find good and bad lawyers, good and bad accountants, good and bad doctors, builders, electricians etc. It is not the profession, but the actual person, and if you had a bad luck to come across someone that was not honest and sincerely trying to assist you, than I can understand why you feel that way, but I can promise you, this is not most people. I believe most of us are decent, honest, hard working and passionate about what we do. In my case it happens to be helping people to be better prepared for a very long retirement in financial sense. I was born in Europe as well, I know retirement systems in number of European countries, and depending on one's believes, some will see that system as better others as worse, all is in the eyes of beholder. All I can say is that Australian system gives people more choices, ability to make own decisions when it comes to investing, savings, retirement choices and planning for the future. European system is much more structured and government decisions driven. No one can say that one is better than the other, they are different and but we all will have our preference. If you find Australian system more stressful, keep on watching my videos, as I hope they will help to some degree. Thank you again
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