Hi Kenshin,

there was some definite talk last night on ACA, with Peter Costello, anouncing that this year in July there will be some changes in Superannuation and tax benefits and reliefs.

The main push that will be, but not exactly said in detail, is that the government will push for earlier access to your superannuation (though im curious to know if this will be restricted to an age group limit, as nothing was mentioned.)

secondly the push for older workers, who are on the edge close to retirement, to stay in their job longer, while at the same time be able to access their super to keep at an affordable living and lifestyle and almost at the same income, if they were to be working full time instead.

Do see a few advantages here, but still dont see any tax reliefs the were talking about, yet no tax reliefs or benefits were mentioned.

The other problem too is, it will be again dependant on how much money you have in your superfund, before you start slipping yourself money, ensuring that your superfund can still perform at a profit, and break even, before you decide to full retire and access full weekly amounts of super in your retirement years.

And if so, this is just my predicticment (sis prophet), if we are able to access our superfunds and roll them into our MGMT funds, for the many older retirees who have general but good understandings of investing, most likely will transfer their superfund, into other performing superfunds or even, other annuity programs, but most likly a big definite push towards other types of ADF (approved deposit funds), the main reason being is that it only pays 15% tax on its investment earnings, which in contrast could mean more ADF will be avail, but this again will be dependant on how their own superfund has been performing with the current superfund.

in effect… companies that (cant say the word shares, but you guys know what i mean) pool peoples superannuation funds together, could begin to perform poorly due to the amounts of money being pulled out, leading towards a downslope or a stockmarket crash ahead….

In effect again, this could cause, for the younger geneartion of people who have only small amounts of money in their superfund, to lose out big time, or will also make them, pull out/roll over there superfunds into other performing investment vehicles.

Which based on theory, on my finishing sentence here, but also in reality is different, when shares begin to perform badly, an interest in the property market occurs…. which could lead to another big boom ahead in the property market and in property trusts(which again are other MGMT funds, but invest their monies in property)

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million

Hey Guys,

so really all up… many of us who, are under the age of 40, if this is how things seem to be shaping up…

there could be the possibilty that retirement for us could be at age 75+ …. is that right or do we have a huge shortfall coming up ahead of us…. in only the next few years coming????

Cheers,
sis

People 4get that by saving just $3 a day & investing it sensibly
over a working life, you’ll end up with around $1 million