Thread: Pension Age may move to 70

Originally Posted by BigJon

It is perfectly legal to have a self managed super fund. Then you can invest in almost anything you want.

That it is not what I mean, we should have the choice to invest in a super or in real estate. Either way we will face the consequences if things are go pear shape but at least we made the choices not some other individual with our hard earned money.

Originally Posted by Chucaro

That it is not what I mean, we should have the choice to invest in a super or in real estate. Either way we will face the consequences if things are go pear shape but at least we made the choices not some other individual with our hard earned money.

You are showing some ignorance of what you can do - you can have real estate in your self managed super fund.

Originally Posted by stevo68

Hey Arthur. ..hope you are well. Ok...the problem with your comment about investments in shares a gamble and with regards superannuation is based on your opinion, there is no factual basis. I say that because it shows little understanding to the mechanics of investing. Trillions of dollars are invested in a range of asset classes when it comes to super. I'm not going to bang on about it here, do your own research on the stock market.

Stevo, with all respects I have the right to have an opinion and I do not claim that my knowledge in the subject is superior or inferior to yours

Also speak to the thousands of people who have lost money on property, property ventures, commercial real estate and so forth over the years. Any investment class will carry a level of risk. Its the management of that risk and diversification that reduces the overall level of risk, regardless of asset class.
I would not mean investing in property ventures run by a third party, I think more in capitalizing the own property and with equity or savings invest in a second property and so on. A portfolio of properties in good locations cannot go wrong if the investor know when to sell.

My mother listened to the likes of you, someone with an opinion but no education, qualification or work experience in that field and its cost her $1000's. If that same advice came from an adviser, they'd be stripped of their licence, fined and unemployed. So think about how your opinion may affect another person when it comes to their personal financial situation. I hope you understand my comments aren't meant to be inflammatory.

Carefully Stevo you are touching unknown ground there
Regards

Stevo

There are thousands of people that have lost their savings following the advice of "licensed experts" in the field.

Cheers
Arthur


Sent from my GT-I9305T using AULRO mobile app

There are thousands of people that have lost their savings following the advice of "licensed experts" in the field.

Cheers
Arthur

whats an investment???

"Also speak to the thousands of people who have lost money on property, property ventures, commercial real estate and so forth over the years".

I'd like my younger bro to give me his secrets. He's been building and leasing commercial property for well over 30 years and is a multi millionaire from it.
Or maybe he can send me a few million and bugger the hard work he put in.
AlanH.

Originally Posted by garrycol

You are showing some ignorance of what you can do - you can have real estate in your self managed super fund.

Before call me ignorant tell me if this is wrong:
Quote:
When you set up an SMSF, you become a trustee of the fund (or a director of a company that is a trustee). In either case, you will be responsible for managing it according to its trust deed and the laws and rules that apply to SMSFs. The key principle is that you run your SMSF for the sole purpose of providing retirement benefits to members.
End of Quote

Not I am not ignorant
What I was trying to say is that I do not like superannuation I like to have the freedom to do with my money what please me and face the consequences if things going wrong.
I would not expect support from the government if I did not made enough money to support myself.

A friend had a rental property in a SMSF. The rules say you cannot rent it out to family. He wanted to rent it out to his daughter who would have looked after the place. Instead he rented it to someone who didn't look after it whilst his daughter looked after someone else's property.
Just someone else's experience. If you invest in property, location is important. Consider the sort of renters you will be attracting as well as any income and value increases.

I have shares. They are not part of my super. they are just an investment I thought was prudent at the time. Pre-GFC they skyrocketed 3200% (that's 32 times their purchase price). When the GFC hit, they dropped a little over 50%. In the last couple of weeks, they dropped further 30%. They are still almost ten times their initial purchase price a little over ten years ago and they have more than paid for themselves in dividends.
I think the recent drop indicates we are in for some interesting times ahead. I'm hanging on to them and will see where the ride takes me.

Originally Posted by Chucaro

Before call me ignorant tell me if this is wrong:

Your original statement implied to me that you could not have real estate as part of a superannuation fund when in fact you can. Hence my statement that you seem to be ignorant of this fact - ignorant meaning "lacking knowledge or awareness in general" - not ignorant meaning "uneducated or unsophisticated, discourteous or rude.