The biggest mistakes retirees make with their investment savings and super
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- čas přidán 12. 09. 2024
- For years and years, you must have heard the message:
“Don’t concentrate on short-term returns, market can be very volatile short-term, keep your eyes on the long-term outcomes that your fund has been designed to deliver.
Don’t react impulsively to the short-term downturn of the market, stay invested, don’t sell your investments to move to cash when the market is down, keep your investment going, as the market will recover, and you will miss out again.
Look at Warren Buffett. One of the richest investors in the world, one of the best investing minds, and yet he never tries to pick the market, he only buys high quality stocks, he is a long-term holder and investor of good quality stocks, but he never tries to outsmart the market, just good old fashion long-term consistent investing. So if the godfather of investing cannot do it, why on earth would you think you can?
For the last few years our government has had an agenda to “fix superannuation funds” and remove those of low performance. I can understand, accept and fully support trying to remove super funds that overcharge members for their service, but to push super funds to meet the annual performance test is just ludicrous.
Now, even the biggest independent superannuation and investment research houses are confirming, what I said in my very fist video, when introducing the whole idea of naming and shaming super funds underperformance.
See “8 changes to super”. I prepared it a year ago, but the message is just as valid today as it was the day I recorded it. See point 4, and you will know exactly how I feel about the whole idea of naming and shaming and the idea of the annual performance test.
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Its criminal that there is a separate superannuation scheme for politicians that guarantees them an exceedingly generous retirement income after they have served a relatively short period. They should fall under the same super rules as every other citizen. That would help stop their incessant meddling with the rules.
Well.... this is another discussion altogether, but I doubt anyone would argue with you here. Merry Christmas 🌟
@@AboutRetirementTV Except politicians....Merry Christmas to you too!!
Excellent advice to consider a long term outlook rather than focus upon short term.
I started preparing in early 2022 for a planned retirement in late 2025. I subscribed to this channel for education and information about retirement matters particularly about the age pension.
I also got financial planning advice and attended retirement related webinars provided by my Superannuation Fund.
I aligned the investment option of my Superannuation account to my personal risk profile.
Essentially I have already adopted a defensive strategy to protect the account balance.
My recent research leans towards a high probability of an economic slowdown in 2023 and a continuation of stock market corrections.
Big unknown at this stage is when the market will hit its low point and start a recovery phase.
When there is more clarity, then I will reverse my defensive strategy and adopt a longer term one.
Boring , no information , yap yap yap
Merry Christmas 🎄Do you agree or disagree with me on the topic of the biggest mistake that retirees make when investing?
Is there any advantage in selling a share portfolio and moving the proceeds into super just prior to retiring?
Hi Chris, what a great question. I will create a full video explaining and comparing the two, this will give you more information, more guidance and more clarity
The best thing I ever did was set up a SMSF back in 2004 when I was in my mid 20s. Only $17k in it to start with but returns were better and it got me focused on my retirement early both within and outside of of super. I still havre 2 of the first 3 shares i bought.
Sounds like a good, solid long-term plan, fantastic 😀
Hi Katherin, regarding gifting. I am single 71 year old widow. I help a asian family overseas with private school education, would this be considered gifting. Thank you for your information.
Yes, Centrelink would classify this as a gift, therefore subject to limit of $10,000 per annum up to $30,000 in any 5 years.
Trouble is, to most of us, all but the highly motivated, the Stock Market has a life of its own and appears as "smoke and mirrors". All we see is bulk amounts of our money disappearing, when things go bad. Hard not to panic. Happy Christmas to you Katherine.
Yes, I can understand that, but there are strategies for monitoring and minimising not only losses, but stress level as well. Happy Christmas 🌟
Merry christmas to you and your family! Love listening to your views on retirement.
Thank you Paul, Merry Christmas 🎄
Thanks for the very useful advice that you always provide. Merry Christmas to you too!!
Thank you Mariella, Merry Christmas 😀
What a mistake it was to be honest and then be stripped of some of our pension. Yet those who have A FAMILY TRUST FUND can get all the pension and benefits on top.Will the government reverse this criminal law taking up to quarter of the pension from honest pensioners. What will happen they will have no thoughts in corruption in this situation against pensioners.
Merry Xmas to you.
Thank you Rob, Merry Christmas and Happy New Year 2023 😀
And there is two different double standards for the population. If you have a family trust you can get the full pension. But if you want to invest money to be independent but receive a small pension you will become penalised and you will lose a quarter of your pension. But if you are aborigines you will receive anything from the government.
Thank you for stressing the message - long term security trumps short term gain any time. The current government wants us to feel uncomfortable about our gains, or lack of them, it wants super funds to perform badly as that gives them an excuse to play around with the legislation and further undermine our greatest saving schemes for some socialist dream.
Absolutely correct. People should stop receiving their news from the ABC and maybe Labor would not get so many voting for them?
Thank you David, Merry Christmas 😀