Anyone Watching the Global Economy?

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Onemore52
Posted
Posted
On 3/12/2023 at 9:22 PM, BrettGC said:

I'm actually putting any extra into my retirement fund at the moment.  Against expectations It was one of the few in Australia that made money in the last financial year.  Granted, it was only 4% but it's better than a lot of other places.  The 3 years prior it was 15, 19 and 22% respectively so we were due for a hit.  And yes, that's after costs like admin fees and life insurance premiums.  Transport Workers Union Superannution for the Aussies that are interested, it's an industry fund so doesn't have the fees that some of the financial institutions' funds add in.  The banking royal commision a few years back was the best advertisement for industry funds ever. 

I came into some cash from the Defence Department and quickly put into my super fund less it gets pissed up against the wall, after six months apart from interest gained I lost $470  on commissions to the agent.

With the current interest on term deposits looking ok not great I can earn more if I put it there, less of course the money I will lose from my pension but I am happy to take that loss rather than to agent.

Prior to this sequence of events I always heard from the agent with updates to my account plus a snapshot of events on the global situation ,  now the silence is deafening.

 

 

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BrettGC
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Posted
1 hour ago, Onemore52 said:

I came into some cash from the Defence Department and quickly put into my super fund less it gets pissed up against the wall, after six months apart from interest gained I lost $470  on commissions to the agent.

With the current interest on term deposits looking ok not great I can earn more if I put it there, less of course the money I will lose from my pension but I am happy to take that loss rather than to agent.

Prior to this sequence of events I always heard from the agent with updates to my account plus a snapshot of events on the global situation ,  now the silence is deafening.

 

 

Is it an industry super fund mate?  They don't have the same level of fees as the financial institutions. 

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Onemore52
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Posted

Financial institution Brett.

  • Hmm thinking 1
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