Re: So, forum financial gurus...

by Henry Thu 17 May 2012, 16:47

Barring complete catastrophe, things SHOULD start to get better by the fourth quarter of this year. Stick the money in a 6 month TD account, and see if it's worth investing elsewhere by then.

And 5.5% in an Aus term deposit account is still a hell of a lot better than the 3% most UK banks are offering at the moment.

by Henry Thu 17 May 2012, 16:50

JGK wrote:I reckon it's all a bit oversold. There is no new information re Greece, the problem is just a bit more imminent.

Aye. As tends to happen, the markets are over-reacting. Most investors had factored in a Greek Euro exit, French Presidential change, loss of German support for Angela Merkel months ago.

The writing has been on the wall for a year.

by Basil Thu 17 May 2012, 18:23

Pay off the mortgage - and if there's any left treat yourself and the missus to a bloody good holiday

by beamer Thu 17 May 2012, 18:28

Henry wrote:
JGK wrote:I reckon it's all a bit oversold. There is no new information re Greece, the problem is just a bit more imminent.

Aye. As tends to happen, the markets are over-reacting. Most investors had factored in a Greek Euro exit, French Presidential change, loss of German support for Angela Merkel months ago.

The writing has been on the wall for a year.

How was the stock market hovering close to pre-crisis levels for so long then? Always seemed the only way was down in the slightly longer term.

All showing what a crazy idea it was to have a single currency for all these countries that can issue their own debt, set their own spending and tax plans etc. but have no control over their interest rates and money supply... at least we managed to stay out of it.

by skully Thu 17 May 2012, 22:42

Henry wrote:Barring complete catastrophe, things SHOULD start to get better by the fourth quarter of this year. Stick the money in a 6 month TD account, and see if it's worth investing elsewhere by then.

And 5.5% in an Aus term deposit account is still a hell of a lot better than the 3% most UK banks are offering at the moment.

Aye, Trev. Cheers, will probably do exactly that today. BPaid a health sum into my Super a couple of days ago. Should be there today and will grab a Westpac 180-day TD at 5.4%. The stock market can then fark around for 6 months and hopefully things in Europe will look a bit more solid then, allowing me to have a stab at equities.

by lardbucket Thu 17 May 2012, 23:59

What is this 'money' of which you speak?

by skully Fri 18 May 2012, 00:18

Multi-cloured stuff, you know, oranges, yellows and greens. A bit stiff but that stops it tearing. Useful for purchasing margarine, bread and potatoes.

by skully Fri 18 May 2012, 01:45

Done and done. BPay transfer arrived in my Super Cash account today and has now been locked up at 5.4% for 6 months. Now watch the ASX go gangbusters. Shocked

by JGK Fri 18 May 2012, 01:46

MArket tanking again today. Rio at $56 looks tasty.

by skully Fri 18 May 2012, 01:48

I think I've mentioned it before, but my cousin's husband was an accountant and managed his Super pretty well. Just before retirement in mid-2010 he lobbed just about all of it into Rio shares. He was giggling at me when they rose as high as $88 or so. I think he grabbed 'em in the mid-$60s back in early 2010. He is looking very grey at the moment.

by skully Fri 18 May 2012, 01:56

Crikey, I see Rio's peak price was $140 back in Nov 2007, so he probably thought they were a good bet at $65 a share in 2010.

by skully Fri 18 May 2012, 01:57

Oops, double post.

by skully Fri 18 May 2012, 02:05

JGK wrote:MArket tanking again today.

Crikey, ASX100 under 4,100 this morning. Very happy to currently have over 70% of my Super in TDs.

by horace Fri 18 May 2012, 02:13

postcard from new residence under the Spencer St bridge...I'm now living here after MS' advice about nursing home costs

nice dry morning...the Yarra miraculously continues to flow and pull debris down from upstream as the tide goes out ..

it is fishing time...some young Tom Sawyer'y (no rello I guess) type just pushed me out of the way and called me a fossil as he reached into the Yarra murk to drag out a sodden half eaten maccas that had been tossed from the bridge upstream

by skully Fri 18 May 2012, 02:18

by skully Sat 19 May 2012, 04:56

Just been reading up on over-50s Super contributions concessional cap. My understanding was that for those with balances over $500,000 the concessional cap is a paltry $25,000 beyond June 30 2012. Although a number of articles seem to indicate that the stoopid Pinkos are still considering lifting this to $50K before June 30 2012 i.e. for the 2012/13 Fin. Year.

Anyone know anything further?

What a bunch of blinkered pig-ignorant qunts these Pinkos are. A bloke is happy to whack his own money away to not need to leech a Govt Pension on retirement, but they go and make it not worth it by taxing contributions over $25K at the full tax rate. What a bunch of retards.

by Mick Sawyer Sat 19 May 2012, 05:29

skully wrote:Just been reading up on over-50s Super contributions concessional cap. My understanding was that for those with balances over $500,000 the concessional cap is a paltry $25,000 beyond June 30 2012. Although a number of articles seem to indicate that the stoopid Pinkos are still considering lifting this to $50K before June 30 2012 i.e. for the 2012/13 Fin. Year.

Anyone know anything further?

What a bunch of blinkered pig-ignorant qunts these Pinkos are. A bloke is happy to whack his own money away to not need to leech a Govt Pension on retirement, but they go and make it not worth it by taxing contributions over $25K at the full tax rate. What a bunch of retards.

aye, it's shite policy.

Originally, the extra $25k for those > 50 was to end 30 June 2012. Sherry, Shorten and others continued to lay hints that it would be extended. They've teased us for 2 or 3 years into believing that it would remain at $50k for golf with less than $500k, as you've mentioned. The budget put the kibosh on all the teasing. The $50k threshold s gone, at least for 2 years when it may come back as $55k.

by skully Sat 19 May 2012, 07:12

Cheers Mick.

Bastards.

by JGK Sat 19 May 2012, 15:30

There's nothing stooping you saving for your retirement outside of the Super system.

by skully Sun 20 May 2012, 00:27

Er, I am doing that in spades, MrK. I have a very healthy nest egg in the Chief's name to minimise tax payable on its earning. This will be used to supplement my allocated pension income post-55, which will be kept at a low enough level to avoid tax. Because of my age (born before 1964) I get a 15% discount on my tax between 55 and 60, meaning I can take about $50K in annual allocated pension tax free.

I am still unsure on the status of salary-sacrificed cash above the $25K Super contributions limit next financial year. It will be taxed at the full nearly 50% but is it counted in your taxable income or not?

If it is, I may as well just save the money post tax outside my Super in the Chief's name, for as long as her name exists. If it is not included as part of my taxable income (and I currently assume it wouldn't be) then while I still lose 50% of the over the $25K contributions to tax, my taxable income stays lower and avoids things like means testing of the Health Fund rebate, future flood levies, Disability Fund levies etc etc.

Mick seems to indicate that Super contributions salary sacrificed about the $25K concessional limit are clearly not part of my taxable income, but I just want to make sure before making decisions about what to do with the spare $25K I will have next Fin. Yr.

It seems a simple, even dumb question, but can someone give me a 100% clear answer?? scratch

by Mick Sawyer Sun 20 May 2012, 00:41

JGK wrote:There's nothing stooping you saving for your retirement outside of the Super system.

No there isn't, it's simply that you get to keep less of it & that means less fun.

by JGK Sun 20 May 2012, 00:47

Mick Sawyer wrote:
JGK wrote:There's nothing stooping you saving for your retirement outside of the Super system.

No there isn't, it's simply that you get to keep less of it & that means less fun.

Well agreed with that. I was just having a dig at skully for complaining that the so called Pinkos reducing his middle class welfare.

by JGK Sun 20 May 2012, 00:50

{oops, wrong thread}

by skully Sun 20 May 2012, 00:53

Deary me, MrK. As I said earlier, I am one who is more than happy to whack my own money away and live off it until I die. This will leave more money in the pot for all the pinko "battlers" to sponge an Aged pension, with no burden from me.

But the retarded Pinkos can't see past a small handful of tax dollars that the reduced concessional limit will create (desperados because they have spent their way into a massive black hole, as they always do) and reduce the amount I can salt away at the lower tax rate. MS is sensible enough to look past his own red leanings and agree that this was stinking policy by the Goose et al.

Humble apologies for attempting to actually help future governments cope with the aging population. You pinkos with your welfare mentality will (nay already have) fark this country royally. Rolling Eyes

by JGK Sun 20 May 2012, 01:01

skully wrote:Deary me, MrK. As I said earlier, I am one who is more than happy to whack my own money away and live off it until I die. This will leave more money in the pot for all the pinko "battlers" to sponge an Aged pension, with no burden from me.

And as I said earlier, you can already do this outside Super so the only thing you are whinging about is the fact that the Pinko Government isn't giving you a freebie.

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