Superannuation Policy

[Ryan]

I'm happy to proclaim the growth in my superfund this year was 23.42%. I was in high growth.
Australian shares returned 31.90% !!! I assume some people will be very happy with that !!

My policy costs around $326.11p.a. but it gives me the following benefit:-

$668,292 Death Benefit
$668,292 Total and Permanent Disablement Benefit
$362,159 Partial Disablement Benefit
And offers Temporary Disablement Benefits as well !!

Happy all round with that effort.

In the bad stock losses in 04/05, mist superfunds faired negatively. Mine paid 4% !!!

Looks like I'll have a few quid to chuck into the pokies when I'm a geezer !! Nah, can't stand the bloody things !!

 

[Matabele]

Is there anything more gauche than someone prattling on about their wealth?

 

[Ryan]

I don't see it until I'm about your age though Mata...so it's a long, LONG way off - hehehehe...

I was actually trying to get this topic going to discuss differences / pluses / minuses in peoples Super...

 

[fLIP]

$668,292 Death Benefit

Yeah what a benefit, what will you use that on if you get it? 😉

 

[Ryan]

No, but my wife and two children will....and that's the whole point mate !!!
I wouldn't want my wife to have to sell the house (family home) in order to survive.

If I carked it, and she paid off the home loan with the super life policy, she'd end up with $468k odd, plus long service / holidays / super payour of $100k odd, then sale of shares @ around $3-400k, she'd get close to 1 million, and wouldn't have to sell the home.

I would then assume she could get around $60k to $70k return in a TD, then hopefully the goverment would help her out....so she'd be a fair bit worse off, but she could definitely make do.

 

[Matabele]

I was actually trying to get this topic going to discuss differences / pluses / minuses in peoples Super...

I'm no use to you then. I couldn't give a ........

 

[Ryan]

[quote author=Ryan]

I was actually trying to get this topic going to discuss differences / pluses / minuses in peoples Super...

I'm no use to you then. I couldn't give a ........

[/quote]

You should Mata...do you think the govt. will always be as giving in 20-30 years?
Or are you relying upon a govt. pension to support yourself and your wife?

That's everyone's attitude.

Too young, too invincible...and this related to BOTH super and insurance.

 

[The Gronk]

No, but my wife and two children will....and that's the whole point mate !!!
I wouldn't want my wife to have to sell the house (family home) in order to survive.

If I carked it, and she paid off the home loan with the super life policy, she'd end up with $468k odd, plus long service / holidays / super payour of $100k odd, then sale of shares @ around $3-400k, she'd get close to 1 million, and wouldn't have to sell the home.

I would then assume she could get around $60k to $70k return in a TD, then hopefully the goverment would help her out....so she'd be a fair bit worse off, but she could definitely make do.

8| 8| 8| 8| 8|

I think I need to get in to this banking caper!!

 

[Matabele]

[quote author=Matabele]
[quote author=Ryan]

I was actually trying to get this topic going to discuss differences / pluses / minuses in peoples Super...

I'm no use to you then. I couldn't give a ........

[/quote]

You should Mata...do you think the govt. will always be as giving in 20-30 years?
Or are you relying upon a govt. pension to support yourself and your wife?

That's everyone's attitude.

Too young, too invincible...and this related to BOTH super and insurance.
[/quote]

My super will be enough to do the job, but I don't obsess about it.

And given the choice between giving my kids material wealth or character and a sense of place, I'll take the latter any day of the week.

 

[Ryan]

Why does there have to be a choice? Wise decisions means you can have both Mata? Look after your kids, look after yourself financially, and STILL teach value and worth.

 

[Garts]

I have not seen my super performance advice for the 07 year, last year I got a return of around 20% from memory, hopefully this year is the same.

Although dont have all the insurances that Ryan has, but I do have the forms to get it put in place. Not as important for me yet as I dont have kids, mortage or a wife but that will all change soon.

 

[Ryan]

News?

 

[Garts]

Get married in under 8 weeks, deposit for the home is in the bank just waiting till after the wedding to buy and kids is the next natural progression, I am getting close to 30 now.

 

[Matabele]

Gen X - nothing to aspire to but a mortgage and death.

 

[Fro]

Keep up Ryan, Nov 17 is the designated Silvertails Wedding day for this year.

I'm with you Garts, except we did it arse about and bought the house last year.

and I was close to 30.........about 10 years ago.

 

[earl]

You did it arsed about?
We had the baby , bought the house and then got married.

 

[Matabele]

We got married, had the babies and didn't bother about the house.

 

[Fro]

Ah the melting pot that is silvertails, isn't it a wonderful world 😉

 

[Corso_Pete]

Got marriied, bought the house, adopeted children from Sri Lanka (before it was trendy), had a couple more kids via the more traditional method and spent the next 25 years paying for it all.

 

[Ryan]

Are you serious Corso Pete? Wow, that paints you in a very different light. Well done mate !!!

Myself - lived with the girlfriend for 10 years. Almost died. Realised I wouldn't leave any legacy in the world. Asked the girl to marry me the day I came out of hospital. 9 months later - Ethan. 4 years after that - Anika.

Nothing beats the love of a family. Kids are the most important thing in the world. That's why I sometimes find it strange that people question why I would rather be at home, than come to Brooky to watch a game of footy.