Hi guys,
is there an ozzie forum on super, for dummies like me ? Are there any without vested interests? .
Found this one - seems Ok ??? http://www.aussielegal.com.au/forum/forum_topics~FID~56.htm
Browse Forums Ideas Box 1 Sep 20, 2010 2:44 pm Hi guys, is there an ozzie forum on super, for dummies like me ? Are there any without vested interests? . Found this one - seems Ok ??? http://www.aussielegal.com.au/forum/forum_topics~FID~56.htm Built the Eden Brae Cambridge 34 Family with Boston Corner Facade Re: Superannuation Forum - is there one? 2Sep 20, 2010 7:46 pm Dunno Southies, but I'm very interested in the topic too (must have something to do with our age group... ) The ATO website has lots of general info, and the financial papers and supplements etc are a good source too. http://www.ato.gov.au/individuals/pathway.asp?pc=001/002/064&mfp=001/002&mnu=42869#001_002_064 News on super: http://www.news.com.au/money/superannuation?nicmp=money&nipchn=google_search&niseg=superanuation_news&nipkw=superannuation%2520news http://wotnews.com.au/news/Superannuation/ Most of the sites I've seen appear to have a vested interest, since they offer investment/super products. Not sure what else is out there.... Re: Superannuation Forum - is there one? 3Sep 20, 2010 7:48 pm Hiya Southies! No idea what forums exist out there, but since we're all experts here, if you've just got basic questions surely one of us can help. Ask away! Geoff - Decophile. Re: Superannuation Forum - is there one? 4Sep 20, 2010 8:04 pm ^ I subscribe to an email press clippings service at work - and I made sure to tick the "superannuation" box when choosing my topics, as well as the things that actually have anything to do with my work. I get free daily updates on every newspaper article, opinion piece, or Q & A column in the country, without having to trawl through the papers. I reckon I'll be an expert by the time I retire. Re: Superannuation Forum - is there one? 5Sep 22, 2010 7:10 am thanks kek , those links will be helpful, though how much I will understand if they get too 'jargon-ny' ......... better start learning Built the Eden Brae Cambridge 34 Family with Boston Corner Facade Re: Superannuation Forum - is there one? 6Sep 22, 2010 7:15 am Quote: Hiya Southies! No idea what forums exist out there, but since we're all experts here, if you've just got basic questions surely one of us can help. Ask away! THanks Eager , since you've offered.......... I stopped working a year ago. Won't be returning to work for a while. My question is : How do I avoid/minimise my super being eaten up by fees, while I'm not in employment ? How's that to kick things off ? Built the Eden Brae Cambridge 34 Family with Boston Corner Facade Re: Superannuation Forum - is there one? 7Sep 22, 2010 7:43 am Southies I stopped working a year ago. Won't be returning to work for a while. My question is : How do I avoid/minimise my super being eaten up by fees, while I'm not in employment ? How's that to kick things off ? Switch funds? There are funds with low fees... Maybe as a starting point, have a talk to your fund and see if they can offer any options. I rolled over my super from my old job into a fund that does have fees, but the earnings way outstrip the outgoings (well, except during the GFC, thanks to my investment mix being geared heavily towards shares ), so I'm not losing anything and by the time I retire ought to have gained quite a bit. One of my half-yearly fees is also tax-deductible. Can your hubby contribute a small amount on your behalf? There are usually benefits to doing that. He may be able to salary sacrifice to take advantage of the tax benefits too. The ATO's website should have all the info - if you get stuck, yell out, I can probably find the answers for you. Re: Superannuation Forum - is there one? 8Sep 22, 2010 10:37 am kek Switch funds? There are funds with low fees... Maybe as a starting point, have a talk to your fund and see if they can offer any options. Quote: Can your hubby contribute a small amount on your behalf? Quote: ...... if you get stuck, yell out, I can probably find the answers for you. Built the Eden Brae Cambridge 34 Family with Boston Corner Facade Re: Superannuation Forum - is there one? 9Sep 22, 2010 6:13 pm I looked some stuff up for you today at work... thought I'd log in at lunchtime and do a quick post, but our ridiculous security blocks everything, and it seems the pop-up ads now make it all paranoid, so all I get is a blank screen. Dammit. Anyway, here's some stuff I found: FIDO (on ASIC’s website) – Super Decisions. http://www.fido.asic.gov.au/fido/fido.nsf/byHeadline/Super%20decisions%3A%20step%20by%20step%20guide%20through%20super%20maze Lots of info here. Look at transferring your funds elsewhere if your super isn’t performing for you. Retirement Savings Accounts (banks have them) are an option for low balances – and your super won’t be eaten away by fees. If you have a decent amount sitting in your account though, you ought to be able to park it somewhere that will give a good return – and if you can add a little extra, it’ll do even better in the long run. Superannuation spouse contribution tax offset http://ato.gov.au/individuals/content.asp?doc=/content/19144.htm&page=1&H1 $20 per week = $1040 contributed Entitles the person making the payments on your behalf to a tax offset of $188. So the effective cost of the $1000 contributions is only $852. (Maximum offset is $3000, which would require contributions of over $16,000) Superannuation co-contribution http://ato.gov.au/individuals/content.asp?doc=/content/00109242.htm&page=4&H4 If you do some casual/part time work during the year and earn only a few thousand, and you contribute $1000 to your super fund, you get a bonus $1000 co-contribution from the government. If you contribute less, you only get the equivalent amount in co-contributions. There you go! Re: Superannuation Forum - is there one? 11Jun 07, 2012 11:10 am Thought I'd revive this topic as it's almost the end of the financial year. Did you know that until 30 June if you are over 50 you can contribute up to $50,000 into your super? From July 1 that is scaling back to $25,000 .... and do you know why, so the government can save a whole lot of money to help with the "surplus' they are forecasting I also looked up one of the super calculators on the net and discovered that the more I salary sacrifice to super the more I finish up with in my pocket .. it's worth looking at. It also helps to bring down the amount of tax you have to pay ... 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