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 Re:Australian Superannuation is a joke.
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By: dustinpendragon
27/07/2009
11:38 pm Yahoo! Profile:
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| lol when did you 2 guys wake up ??........superannuation isnt a joke ....... its a SCAM |
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By: ianmiller59
27/07/2009
8:34 pm Yahoo! Profile:
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Just adding to my last post.
My super at the end of the 2006/2007 financial year was just over 33k. In December of 2007 it showed an estimated balance of over 36k. So the last 2 years "18 months" have been disastrous loosing $10,000 on mine. About 15% each year.
The company I have my super through is meant to be the best performing industry fund, atleast it was for the last few years. |
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By: ianmiller59
27/07/2009
8:21 pm Yahoo! Profile:
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What a joke superannuation is.
I am self employed and have to pay super for myself each quarter and have done since 2001.
At that time my super fund was worth around $18000 just after I moved several funds into one.
Since then I have paid close to $20,000 into that fund.
I have just looked to see that my super is now worth just $26,100.
It was at $35,000 2 years ago after a couple of rare good years.
Before that there was 2 bad years, not as bad as the last 2, but still lost more than was paid in.
Also I remember being really pi..ed off at that time after hearing when ours had lost so much, that government superannuation had made more than 100%. I wonder what the government supers have done over these last 2 years.
The way I see it, I had $18,000 in my super in 2001.
Since then I have paid in another $20,000
Total $38,000
My super is now worth $26,100.
That means it has cost me $11,900 in the last 8 years to save for my retirement.
Correct me if I am wrong, I always thought that superannuation was meant to be a good investment, that would build on your savings and give us a good retirement.
Looks like it has all just been another means of getting money out of us and nothing to do with making things easier when we retire.
I think we should just refuse to pay into our supers, tell your bosses to give you the money instead. Spend say a quarter of it now to help with our troubled economy, and put the rest under our pillows for retirement. We'll be better off that way both now and when we retire. |
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