When is 20% the same as 25%?

[Garry K]

When I get my superanuation statement , see that my $200K has gone down 20% to $160K, and that I need 25% increase this year to get back to original $200K.

That mean that if I only get 20% back this year, and this sequence happens each year, eventually I'll have nothing left

Who was it said life wasn't meant to be easy?



Geekay

 

[bundy1964]

Hi Garry

Don't forget that 9% of your wages are paid into a fund as well.

If I was a wage slave I would certanly look at SMSF to cover the nessesary evil the gov has inflicted on employees.

bundy

 

[always_learning]

Originally posted by Garry K
When I get my superanuation statement , see that my $200K has gone down 20% to $160K, and that I need 25% increase this year to get back to original $200K.

That mean that if I only get 20% back this year, and this sequence happens each year, eventually I'll have nothing left

Who was it said life wasn't meant to be easy?



Geekay

200K down 20% is 160K

160 up 20% = 192K

160 up 25% = 200K


Dont forget that the government taxes the super fund on profits during the years in which they show a profit! So expect you super fund to grow at a rate below the average gains in the share market!

Hint....forget your super, treat it as a bonus if you see a cent of it, or start your own self managed super fund! My prediction is that by 2023, super will be seen as the one of the greatest failures in govermental history. Force people to invest, give people no choice and tax the crap out of it....and put in in the hands of corporate greed merchants.

 

[Aceyducey]

That's why we do property

Cheers,

Aceyducey