Share trading in general is far more risky than what you might think. I know a couple of people who have worked in the brokerage industry and the dirty little secret that they try hard to keep quiet is that the failure rate of share traders is staggeringly high. Almost all people, even the ones who do courses, read trading books and do as much as they can to increase their probability of success end up loosing money overall. One guy actually told me that the brokers themselves struggle to turn a profit in trading. He said that of the countless private traders that had accounts there they only had about one trader who had any consistent success and a few of the brokers piggybacked off his trading decisions because he was more profitable than they were. Some brokers will try and blame leveraged instruments like futures contracts. options and warrants, and currencies if they are challenged about people loosing money trading but in reality trading shares will take you down the same path, just a little slower. If you must trade then trade a simulated account for a year, be honest with yourself and see what your results tell you. My suggestion however is to be a long term investor, not a trader.
'Extravagant' living is a standard decided by their alumni, their friends and strangers they observe. It is in the eye of the beholder. Very few need the first class experience especially in the west. Take a train between main cities if you want that they are just like first class planes but considerably cheaper. Most jobs for the younger generation will be assisting these retirees in their day to day they have no clue when it comes to technology we take for granted and that is ok.
Am I hearing wrong? They said one million a couple is enough for a comfy retirement? Which Australian city they live in? Please do not fool us, at least two million a couple in big cities in Australia!!!
If you cannibalize it, $1 Million over 20 years is $50k a year (and you'll be making interest on that the whole time, so it should last longer), which is plenty if you own your own house and really pushing it if you don't.
You account that 1M in cash. But if it is property apart of your principle, then you have to pay land tax and council rates. Do not forget our dearest CPI and beware that the actual CPI on living cost is much higher than the CPI they told you. Even if it is cash that $50k is very tight and keep your head just above the water and you have to cross your finger to be healthy. Now your principle resident is accounting as assets but centrelink would not tell you this until you are sick then you will know( please see 6:30 report in Chanel 9). I did not say I want living in high but holiday twice a year overseas on cruise ( not expansive one and with business class ONLY if it is to Europe and South America as the trip is not breakable like USA). Even with $2m which can bring $10k a year unless it is cash and you are willing to hide under your rose garden. You have problems after you dead as just now, 6 hours ago MORRISON WANT TO INTRODUCE THE DEATH TAX NOW. So you see now $2m is not enough if you have children who could not afford to buy a house and waiting us to pass the house to them.
something has to change amidst reports of individual funds being robbed to the tune of hundreds of thousands in the name of costs.?????Self managed and invest in arms.
Sorry, but the share-trading lady is delusional. If she didn't do finances when she was a housewife, what makes her think she will get it now that there is a downturn round the corner? It is terrible to see people being lied to so outrageously. She has children, the children could step in and help/support her if needed. After all, she invested all her life in them. Women need to wake up. Playing the "I'm-an-independent-woman" gamble after decades of doing the safe "stay-at-home mum" gig just doesn't make sense to me. You can only do one or the other, rarely both!
Not many of us are cruising yachts about the place, nor are we lifetime Qantas pilots, nor are we lucky. The other 99% of us are coming up short as we face retirement.
Bowen Rees Nice idea and that was what was supposed to be happening with superannuation but as I said, for many it hasn’t turned out to be enough so they will still be reliant on the age pension.
@@mrnrc1783 superannuation is a government enforced retirement savings scheme. Not exactly taking responsibility for oneself... If i am saving 9% of my income and that is not enough to retire on, i obviously need to save more...
Bowen Rees only the 9% is compulsory for employers. Government encourages additional contributions so there is no reason why you shouldn’t contribute more. Some do, but many don’t. Others haven’t the means as they don’t have regular incomes. You’re alright though I guess.
8:41 And that time is NOW, with Coronavirus. I've got just over 10 years to go till retirement. Two years ago I thought I'd start saving in earnest for my retirement by increasing my super payment amount, and was lucky to come across some extra overtime for the last two years (just finished it before Christmas) in which I put most of that into the Superannuation Scheme as well as some normal wages. I was looking forward to seeing $110,000.00 on my balance sheet this coming July, when it is released, now I'm watching it 'all' dropping like a stone on the sharemarket (which I personally are powerless to stop) all because of Coronavirus!
@@jimmyjimmy17 We're powerless to touch it, it's completely out of my hands. I have to quit my job to get my hands on it and then I'll lose 30 years of seniority!
@@mrphatmunkeyspew6969 We lost something like .07% last year, but this year we gained around 7%. We usually make, on average, around 5.6%, so I am reasonably pleasantly surprised considering!
SMSF needs goverment to simplify the paper work - and we need to investment in Ecovillages - self sustainable life style - form an association of SMSF to encourage people to get involve by educating and supporting them
Looks like an advertisement for the brokers and financial advisers who are loosing business to industry funds that produce high investment returns with low administration fees.
If you chose the cash option for any 20 year period that super had been operating for (even picking the peaks and troughs) you would always be worse off. Sometimes you need to look at the bigger picture.
This is very misleading. People's retirement security should not be dependent on an advice from a financial advisor. There were people who lost a substantial amount of their retirement savings trusting qualified financial advisors. Hardworking people should be able to rely first of all on an old age pension like people in Europe. In Europe, people are receiving the old age pension proportionate to how much they have earned and paid taxes throughout their working life. Pensioners in Europe are not living in poverty and their pension is not means and income tested. Deeming, which is completely unfair as it is practically stealing, also doesn't exist in Europe. People in Europe can rely on their old age pension and can live in dignity. If they saved and were able to also buy for example an investment property, or make an income from shares, than that is their bonus and they get to keep their old age pension as well. In case they were not able to accumulate investments then their old age pension is sufficient to live comfortably and not in poverty like in Australia.
Do they really teach economics at uni or hand out the the degrees , super has over inflated the Australian share market for years . What happens when more money starts going out than what is going in . Crash but it’s a compound crash . More people are retiring than actually paying into super no more high returns
You could just about stuff a mattress with cash and get a better return than superannuation after paying tax, management fees, insurances and other fees and charges then incurring all the investment risks.
That's absolute rubbish. If you put in $5k per year into the average super fund (7.5%pa after fees) over 20 years it will be worth $237,000. If that was a voluntary contribution you also get a tax deduction so it will be worth even more. If you put $5k per year under your mattress you will have $100k minus whatever the rats ate. You should get informed before you make such ignorant statements.
sabertoooth06 Thanks for your opinion. Your assumptions about return do not appear to take any level of risk into account. You must be one of those two handed gesture converts. My comment was mainly in relation to the return of capital at Zero risk with the help of a couple of decent rat traps... Other than that we’ll just have to agree to disagree.
you grow up and spend the first 20 years working and learning, you spend the next 40 years working working working working so you can spend the next 20 years doing nothing at all
You are lucky you stayed home with your kids which 90% of mothers now can't do and you also get the pension which the working mothers who can't stay home with their kids now have to pay for you to enjoy a pension and all the discounts that add up to more than some of the hard working Aussies were able to put in their super. So I say you had your cake and you are eating it as well. I wouldn't complain if I was you.
I thought the same thing until I read the policies and an explanation of them. There is a good article in Financial Review that covers the changes and how it impacts most retirees. Labor won't be taking away franking credits, just the refund of excess credits.
i am self employed, paying off an average house in pakenham. my income average 60 to 70thou clear a year, there is no way i can afford 10% in super everyweek or healthcare, on top of premium household bills, premium rate's, premium rego's, v high taxe's, 3rd party insurance's, mortguage, content's ins, loan protection, kids fee's and book's, and everything else after that to keep alive every day. however i am a firm believer in medicare, and the aged pension, as that's why i pay high taxe's all my life so i can, have medicare and a retirement pension. to save up super to pay my own retirement and pay my own healthcare would be verry stupid of me as an inteligent human being. i am already paying high taxe's for a future pension and free medicare when in need it. i couldn't afford super or healthcare anyway. im just hopeing to get the house-bank paid off etc, so i can have a bit less of a struggle on the government retirement pension. im all for scrapping superannuation, i think most people can't afford it, it's already hard enough without having to pay your own retirement as well. if the pension was ever fazed out i would be living in the gutter for sure, with no income and too old to work, period. i am relying on getting a government pension when i retire, there is no other way for me, and much of the australian population i think too. to completely scrap super, and increase the retirement pension a third only for lower income earner's, you have my vote👍. those who are well off and getting the retirement pension, do not need a third increase, this is fair, and make's it a little easier for those who haven't been as fortunate in life.
I've worked at my place of work now, for 37 years, and have worked myself up the ladder to a job that now earns me around 50 thou "before" tax. I had a fellow worker who had been living in Australia for the last twenty years. When he came back to NZ he was blown away by how hard it is to live here financially!
Sounds like you’re doing it tough mate. Have you met many people on the pension? It’s a tough way to live. And they were from a different era where there wasn’t super, the pension would last 5 years and they’d die. You know that this tough existence is coming if you continue the way you are. It’s not too late and it’s not too hard and you can absolutely do it. Barefoot investor is a great book to start with. A ditsy blonde flight attendant got me on to it. I thought I was smart with money. But wow it really taught me some simple things that made a big difference. Easy to read. Each chapter is for something different. Paying off debt, simple system for cashflow management/budgeting, investing and super. Step by step. Even scripts to read while you call your bank and get a better interest rate. Give it a go. Take responsibility here while you’re still young enough and teach it to your kids too
That women thinks shes going make money from share trading after doing one share trading course...She will be receiving the full age pension within months of starting. Nobody makes money doing share trading, especially someone with no experience broking or finance.
Actually no, any adviser acting in the best interest of the client wouldnt recommend an SMSF unless there were adequate funds to substantiate setting one up and/or the client is interested in buying a property in their fund. It all comes down to whether or not you have a good adviser. Avoiding the banks to source an adviser would be a start.
You will generally find your tax adviser (accountant) who also has his financial adviser licence is generally more knowledgable than most financial advisers out there who arent accountants or dont have an accounting backgroud as they often provide a more holistic approach given they understand all the tax implications of different financial products they are offering . The days of boutique and one man financial advisory firms are limited.
Like bit coins when everyone ones in it goes to shirt soon it will b the house market soon it will be the shear market people love to bye hi and sell low never looking at the longer picture so sad me I have 6 kids hard as hell right now but long picture the best thing ever
We have it pretty good in Australia particularly if you decide to educate yourself on finances. I live in Thailand and these people do it tough.
Share trading in retirement? I don’t think I want that kind of risk.
She might have some Bitcoin too. 🤔
Share trading in general is far more risky than what you might think. I know a couple of people who have worked in the brokerage industry and the dirty little secret that they try hard to keep quiet is that the failure rate of share traders is staggeringly high. Almost all people, even the ones who do courses, read trading books and do as much as they can to increase their probability of success end up loosing money overall. One guy actually told me that the brokers themselves struggle to turn a profit in trading. He said that of the countless private traders that had accounts there they only had about one trader who had any consistent success and a few of the brokers piggybacked off his trading decisions because he was more profitable than they were. Some brokers will try and blame leveraged instruments like futures contracts. options and warrants, and currencies if they are challenged about people loosing money trading but in reality trading shares will take you down the same path, just a little slower. If you must trade then trade a simulated account for a year, be honest with yourself and see what your results tell you. My suggestion however is to be a long term investor, not a trader.
Hope she hasn't lost it all on some speccy stock.
Might as well go to the casino
How's this sound? No real retirement, but hours scaled back while still collecting same pay:
Age. Hours per week
16 - 25. 35
26 - 35. 30
36 - 45. 25
46 - 50. 20
51 - 55. 15
56 - 60. 10
61 + 10> (less than)
no
How many countries in the world even HAVE a superannuation system? I don't think we're doing too badly.
'Extravagant' living is a standard decided by their alumni, their friends and strangers they observe. It is in the eye of the beholder.
Very few need the first class experience especially in the west. Take a train between main cities if you want that they are just like first class planes but considerably cheaper.
Most jobs for the younger generation will be assisting these retirees in their day to day they have no clue when it comes to technology we take for granted and that is ok.
Am I hearing wrong? They said one million a couple is enough for a comfy retirement? Which Australian city they live in? Please do not fool us, at least two million a couple in big cities in Australia!!!
If you cannibalize it, $1 Million over 20 years is $50k a year (and you'll be making interest on that the whole time, so it should last longer), which is plenty if you own your own house and really pushing it if you don't.
You account that 1M in cash. But if it is property apart of your principle, then you have to pay land tax and council rates. Do not forget our dearest CPI and beware that the actual CPI on living cost is much higher than the CPI they told you. Even if it is cash that $50k is very tight and keep your head just above the water and you have to cross your finger to be healthy. Now your principle resident is accounting as assets but centrelink would not tell you this until you are sick then you will know( please see 6:30 report in Chanel 9). I did not say I want living in high but holiday twice a year overseas on cruise ( not expansive one and with business class ONLY if it is to Europe and South America as the trip is not breakable like USA). Even with
$2m which can bring $10k a year unless it is cash and you are willing to hide under your rose garden. You have problems after you dead as just now, 6 hours ago MORRISON WANT TO INTRODUCE THE DEATH TAX NOW. So you see now $2m is not enough if you have children who could not afford to buy a house and waiting us to pass the house to them.
8:55
Let's see how that downturn affects everyone's retirement. Its corona time 🍺
world wide pandemic hits, stock market reaches all time highs lmao
something has to change amidst reports of individual funds being robbed to the tune of hundreds of thousands in the name of costs.?????Self managed and invest in arms.
Sorry, but the share-trading lady is delusional. If she didn't do finances when she was a housewife, what makes her think she will get it now that there is a downturn round the corner?
It is terrible to see people being lied to so outrageously. She has children, the children could step in and help/support her if needed. After all, she invested all her life in them.
Women need to wake up. Playing the "I'm-an-independent-woman" gamble after decades of doing the safe "stay-at-home mum" gig just doesn't make sense to me. You can only do one or the other, rarely both!
Please be aware many people lost their money leaving it in other peoples hands
Many Super funds are heavily geared towards property investment. Nothing is going to go wrong at all /s
Andrew Gallagher 😂😂😂😂😂
Well this aged well 🏠 💰
@@mushy111 always goes to the moon 🤙
My employer bought a property from AMP for $88m. It was on AMP’s books for $220m. No one blink an eye for the loss😂😂😂.
'Survive very nicely'. More like LIVE very nicely.
Not really beneficial or meaningful to most viewers by documenting the 1%.
ha ha earn 250K a year, generous super, financial planner. jeez if they are not doing ok, then what hope does anyone else have.
Not many of us are cruising yachts about the place, nor are we lifetime Qantas pilots, nor are we lucky. The other 99% of us are coming up short as we face retirement.
perhaps those 99% should take responsibility for their own retirement instead of relying on someone else to do it for them...
Bowen Rees Nice idea and that was what was supposed to be happening with superannuation but as I said, for many it hasn’t turned out to be enough so they will still be reliant on the age pension.
@@mrnrc1783 superannuation is a government enforced retirement savings scheme. Not exactly taking responsibility for oneself... If i am saving 9% of my income and that is not enough to retire on, i obviously need to save more...
Bowen Rees only the 9% is compulsory for employers. Government encourages additional contributions so there is no reason why you shouldn’t contribute more. Some do, but many don’t. Others haven’t the means as they don’t have regular incomes. You’re alright though I guess.
8:41 And that time is NOW, with Coronavirus. I've got just over 10 years to go till retirement. Two years ago I thought I'd start saving in earnest for my retirement by increasing my super payment amount, and was lucky to come across some extra overtime for the last two years (just finished it before Christmas) in which I put most of that into the Superannuation Scheme as well as some normal wages. I was looking forward to seeing $110,000.00 on my balance sheet this coming July, when it is released, now I'm watching it 'all' dropping like a stone on the sharemarket (which I personally are powerless to stop) all because of Coronavirus!
stick it in cash i can do this with my Aussie super acc]
untill this is over you wont earn anything but at least it wont dive
@@jimmyjimmy17 We're powerless to touch it, it's completely out of my hands. I have to quit my job to get my hands on it and then I'll lose 30 years of seniority!
I am extremely interested to hear how it turned out for you ........by what you said my story is similar to yours .......how are you now?
@@mrphatmunkeyspew6969 We lost something like .07% last year, but this year we gained around 7%.
We usually make, on average, around 5.6%, so I am reasonably pleasantly surprised considering!
@@SeriousSchitt i am glad for you.. hope all goes well
SMSF needs goverment to simplify the paper work - and we need to investment in Ecovillages - self sustainable life style - form an association of SMSF to encourage people to get involve by educating and supporting them
Looks like an advertisement for the brokers and financial advisers who are loosing business to industry funds that produce high investment returns with low administration fees.
Superannuation can be put into cash with any fund provider in the lowest risk option. There is no need to invest in the stock market or property
If you chose the cash option for any 20 year period that super had been operating for (even picking the peaks and troughs) you would always be worse off. Sometimes you need to look at the bigger picture.
Really bad financial advice
I put my super in cash in February 2020 and reinvested in April that year. Worked out alright.
This is very misleading. People's retirement security should not be dependent on an advice from a financial advisor. There were people who lost a substantial amount of their retirement savings trusting qualified financial advisors. Hardworking people should be able to rely first of all on an old age pension like people in Europe. In Europe, people are receiving the old age pension proportionate to how much they have earned and paid taxes throughout their working life. Pensioners in Europe are not living in poverty and their pension is not means and income tested. Deeming, which is completely unfair as it is practically stealing, also doesn't exist in Europe. People in Europe can rely on their old age pension and can live in dignity. If they saved and were able to also buy for example an investment property, or make an income from shares, than that is their bonus and they get to keep their old age pension as well. In case they were not able to accumulate investments then their old age pension is sufficient to live comfortably and not in poverty like in Australia.
Europe can’t afford this.
Do they really teach economics at uni or hand out the the degrees , super has over inflated the Australian share market for years .
What happens when more money starts going out than what is going in . Crash but it’s a compound crash .
More people are retiring than actually paying into super no more high returns
You could just about stuff a mattress with cash and get a better return than superannuation after paying tax, management fees, insurances and other fees and charges then incurring all the investment risks.
That's absolute rubbish. If you put in $5k per year into the average super fund (7.5%pa after fees) over 20 years it will be worth $237,000. If that was a voluntary contribution you also get a tax deduction so it will be worth even more. If you put $5k per year under your mattress you will have $100k minus whatever the rats ate. You should get informed before you make such ignorant statements.
sabertoooth06 Thanks for your opinion.
Your assumptions about return do not appear to take any level of risk into account.
You must be one of those two handed gesture converts.
My comment was mainly in relation to the return of capital at Zero risk with the help of a couple of decent rat traps...
Other than that we’ll just have to agree to disagree.
Buy wine and whiskey and age it and a vintage car and restore it.
6:15
¾ of your life devoted to work..........
the remaining ¼ of which you wont be doing much
seems like a fair trade........
you grow up and spend the first 20 years working and learning, you spend the next 40 years working working working working so you can spend the next 20 years doing nothing at all
I'd like to take that to ½and ½. 😋
You are lucky you stayed home with your kids which 90% of mothers now can't do and you also get the pension which the working mothers who can't stay home with their kids now have to pay for you to enjoy a pension and all the discounts that add up to more than some of the hard working Aussies were able to put in their super. So I say you had your cake and you are eating it as well. I wouldn't complain if I was you.
SMSF has lower fees than industry funds. So now the ALP is taking franking credits from SMSF retirees but not industry fund retirees. Disgraceful.
I thought the same thing until I read the policies and an explanation of them. There is a good article in Financial Review that covers the changes and how it impacts most retirees. Labor won't be taking away franking credits, just the refund of excess credits.
@@inodesnet glad they didn’t get in with that crazy policy
i am self employed, paying off an average house in pakenham. my income average 60 to 70thou clear a year, there is no way i can afford 10% in super everyweek or healthcare, on top of premium household bills, premium rate's, premium rego's, v high taxe's, 3rd party insurance's, mortguage, content's ins, loan protection, kids fee's and book's, and everything else after that to keep alive every day. however i am a firm believer in medicare, and the aged pension, as that's why i pay high taxe's all my life so i can, have medicare and a retirement pension. to save up super to pay my own retirement and pay my own healthcare would be verry stupid of me as an inteligent human being. i am already paying high taxe's for a future pension and free medicare when in need it. i couldn't afford super or healthcare anyway. im just hopeing to get the house-bank paid off etc, so i can have a bit less of a struggle on the government retirement pension. im all for scrapping superannuation, i think most people can't afford it, it's already hard enough without having to pay your own retirement as well. if the pension was ever fazed out i would be living in the gutter for sure, with no income and too old to work, period. i am relying on getting a government pension when i retire, there is no other way for me, and much of the australian population i think too. to completely scrap super, and increase the retirement pension a third only for lower income earner's, you have my vote👍. those who are well off and getting the retirement pension, do not need a third increase, this is fair, and make's it a little easier for those who haven't been as fortunate in life.
I've worked at my place of work now, for 37 years, and have worked myself up the ladder to a job that now earns me around 50 thou "before" tax. I had a fellow worker who had been living in Australia for the last twenty years. When he came back to NZ he was blown away by how hard it is to live here financially!
Sounds like you’re doing it tough mate. Have you met many people on the pension? It’s a tough way to live. And they were from a different era where there wasn’t super, the pension would last 5 years and they’d die.
You know that this tough existence is coming if you continue the way you are. It’s not too late and it’s not too hard and you can absolutely do it.
Barefoot investor is a great book to start with. A ditsy blonde flight attendant got me on to it. I thought I was smart with money. But wow it really taught me some simple things that made a big difference. Easy to read. Each chapter is for something different. Paying off debt, simple system for cashflow management/budgeting, investing and super. Step by step. Even scripts to read while you call your bank and get a better interest rate. Give it a go. Take responsibility here while you’re still young enough and teach it to your kids too
That women thinks shes going make money from share trading after doing one share trading course...She will be receiving the full age pension within months of starting. Nobody makes money doing share trading, especially someone with no experience broking or finance.
'The pension is getting up towards a million dollars if you live long enough' haha, its also a LOT closer to half a million, typical politician!
i managed my own super
Ok
I wouldn't start an SMSF in a fit. An adviser WOULD say it, wouldn't they??
Actually no, any adviser acting in the best interest of the client wouldnt recommend an SMSF unless there were adequate funds to substantiate setting one up and/or the client is interested in buying a property in their fund. It all comes down to whether or not you have a good adviser. Avoiding the banks to source an adviser would be a start.
I'm extremely wary of advisers. I need a tax accountant more I think - for tax advice.
You will generally find your tax adviser (accountant) who also has his financial adviser licence is generally more knowledgable than most financial advisers out there who arent accountants or dont have an accounting backgroud as they often provide a more holistic approach given they understand all the tax implications of different financial products they are offering . The days of boutique and one man financial advisory firms are limited.
Spot on Jimmy.
Like bit coins when everyone ones in it goes to shirt soon it will b the house market soon it will be the shear market people love to bye hi and sell low never looking at the longer picture so sad me I have 6 kids hard as hell right now but long picture the best thing ever
Propaganda.