Thread title

[Beanstalk]

Content

 

[superfraser]

Hi guys,

I've been looking to put my finances in order of late, and one of the key long term decisions I need to make is Super.

I'm 22, and contributing the standard amount from my salary.

Can anyone recommend a fund?

Use the one with the lowest fees and set your portfolio to high growth.

If possible, up your contributions to 15% of your wage. You'll get an enormous benefit long term.

 

[Tassieboy]

Hi guys,

I've been looking to put my finances in order of late, and one of the key long term decisions I need to make is Super.

I'm 22, and contributing the standard amount from my salary.

Can anyone recommend a fund?

Hostplus. Then 'indexed balanced' is the default low fee fund for most people with financial acumen.

 

[raskolnikov]

Someone told me yesterday that Super companies do not have the funds to pay people out their super which is why they only release a bit at a time. Most companies will eventually go broke and unless you plan to retire in the near future you won't ever see your super. Anyone else heard anything like this?

 

[iluvparis]

Someone told me yesterday that Super companies do not have the funds to pay people out their super which is why they only release a bit at a time. Most companies will eventually go broke and unless you plan to retire in the near future you won't ever see your super. Anyone else heard anything like this?

They won't have enough CASH to IMMEDIATELY pay everyone out as some will be held in financial assets etc.

But they will have enough assets that can be sold to pay everyone the cash.

It's the same as a bank - if everyone woke up and decided to IMMEDIATELY walk to the bank and withdraw their cash about 10 per cent would actually get paid before the money ran out.