Thank you so much Luke. There is so much information out there about superannuation, but not much about defined benefit schemes. They work a little differently which financial experts don't seem to talk about too much. I'm with PSS and I find your information priceless. Clear, simple information in plain English that everyone can understand. You're awesome. Don't stop doing what you do 👍⭐
Correct and I honestly thought it was common knowledge.. I admit I was young and didn't know/care about super in the first 5- 6years of being in the PSS, so I made 2% , thankfully I had a bloke sit me down in a lunch room one day and explain it simply, 10% of the government wins.. I changed it that afternoon.. we are SO fortunate to be in the PSS, I have gone from a APS 3 to an EL2, my ABM at least 55 will be around 8.5 which rough calc will allow me to retire at 55 on a pension of around $120k a year...very very grateful.
To many people don’t understand and the fund does a horrible job of explaining the long term impact. Time is the one thing you cannot make up for in that fund.
@@thestrategystacker 100% agree, I was lucky that I was young enough to rebuild and catch up, I want to retire at 55 so I can't get a ABM of 10 but it is ok, it is on me
It's a very familiar story. I think alot of people fell into the trap. If only the resources that are available today were available back then, we would have made the most of it much sooner.
@@raymondrumbundaberg yeah I have just so thankful I was told by someone willing to tell me. when you are young you don't care...well I didn't. but at 55 my abm is about 8.8 so it isn't too bad will make it work
Thanks Sonya appreciate it.
Thank you so much Luke. There is so much information out there about superannuation, but not much about defined benefit schemes. They work a little differently which financial experts don't seem to talk about too much. I'm with PSS and I find your information priceless. Clear, simple information in plain English that everyone can understand. You're awesome. Don't stop doing what you do 👍⭐
Thankyou for your comment. We will keep chipping away and adding value where we can.
Correct and I honestly thought it was common knowledge.. I admit I was young and didn't know/care about super in the first 5- 6years of being in the PSS, so I made 2% , thankfully I had a bloke sit me down in a lunch room one day and explain it simply, 10% of the government wins.. I changed it that afternoon.. we are SO fortunate to be in the PSS, I have gone from a APS 3 to an EL2, my ABM at least 55 will be around 8.5 which rough calc will allow me to retire at 55 on a pension of around $120k a year...very very grateful.
To many people don’t understand and the fund does a horrible job of explaining the long term impact. Time is the one thing you cannot make up for in that fund.
@@thestrategystacker 100% agree, I was lucky that I was young enough to rebuild and catch up, I want to retire at 55 so I can't get a ABM of 10 but it is ok, it is on me
It's a very familiar story. I think alot of people fell into the trap. If only the resources that are available today were available back then, we would have made the most of it much sooner.
@@raymondrumbundaberg yeah I have just so thankful I was told by someone willing to tell me. when you are young you don't care...well I didn't. but at 55 my abm is about 8.8 so it isn't too bad will make it work