Retirement & Super

[landy63]

Gday all , anyone in here getting a bit worried about there Super , went to bed last night happy with the Yanks Bail out plan & yesterdays stock market gains only to wake this morning to find Wall St has crashed again .

Starting to wonder where all this will end ??? :eek:

Al

[Scallops]

I think it depends on where you are in your working life - if you still have 5-10 plus years remaining - don't worry. The markets historically recover to higher levels after such episodes. Look at an historical graph of major indexes since inception - it's a steady upward graph with minor downturn blips like we are experiencing at present.

Once you begin to approach retirement - transfer super investments to less volatile areas such as a combination of blue chip shares/cash. :)

[waynep]

Yes the level of concern would depend on your individual circumstances. i.e do you run your own super fund, or are you in a commercial or industry fund. And then it depends on the mix of shares vs cash you have. Younger folks shouldn't need to worry but perhaps they should look at where any new contributions are going. Those approaching retirement or those highly geared ( eg into margin loans or derivatives ) would have more cause for concern.
Unless of course you're lucky enough to be in a defined benefit fund like the 54/11 scheme they have here in Victoria for Public Servants ( not me unfortunately ). That has got to be the best deal ever - retire one month before you are 55 and get a big lump sum plus indexed pension for life. Then if you want to, go back to work on contract one month later. All thanks to an oversight in the legislation.

[weeds]

Younger folks shouldn't need to worry but perhaps they should look at where any new contributions are going.

i have just injected a reasonable amount of extra funds this week to make the most of a low point in the market and along with keeping a good buffer so we stay ahead of a margin call thingy

we kick started a 20 year retirement plan last year so our initial invest is not looking to good at the moment but i am confidant in 19 yearss time we will be ahead of where we are today.

[mns488]

Once you begin to approach retirement - transfer super investments to less volatile areas such as a combination of blue chip shares/cash. :)

agree with that.

some think yesterdays gains was nothing more than a dead cat bounce...

For me, i'm 31 so not to much concern about my super - its an aggressive portfolio choice so probably got creamed. But over time shares always beat cash, history shows that.

[landy63]

Bit late for me , retired last year as self funded , but the way things are going may not be able to remain self funded unless things get back to normal .