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I think it's crazy we don't pay at least a little bit of tax when we reach retirement age. 15% tax on income over $75k is very fair and it still beats the tax you will pay on your property and share portfolios.
It's only $1.94 trillion. I don't see how that could be tempting...The stash of cash sitting in Super was always going to be too tempting for politicians as it grew
property is a very poor retirement asset, low yielding and high ongoing costs.
the simpler approach of cashing it in, buying a diversified portfolio of managed funds/shares/cash etc in super for most people is the best option.
as an example lets say you own a property worth $1,100,000 which yields you a rent of $50,000 pa. after rates, management fees, insurance, maintenance etc you bight be lucky to net $35K pa. having that property will exclude you from the age pension as well.
even though you have $1.1M in assets you would be on roughly the same income as someone who has nothing i.e. the full age pension of $33K pa.
Agreed. I spent 950k on a portfolio of shares, just two shares, which is now worth about 800k. However, in the past twelve months, the dividend payout was about 40k net, not including franking credits. So this beats the age pension and the same unleveraged 950k spent on two residential properties as a means of generating passive income.
Agreed. I spent 950k on a portfolio of shares, just two shares, which is now worth about 800k.
So from 950 to 800 and an income of 40 , so that's a loss of 110 k , in 12 months .... And I thought the share market had gone up in the last year ....
I'd be curious to know which two if you don't mind sharing.
If I'm not mistaken I think China's point was that daily share price doesn't matter, whereas dividends are pretty much guaranteed.
I'd be curious to know which two if you don't mind sharing.
If I'm not mistaken I think China's point was that daily share price doesn't matter, whereas dividends are pretty much guaranteed.
See my post for an example I worked through for AFI (a listed investment company holding a diversified portfolio of shares):
See my post for an example I worked through for AFI (a listed investment company holding a diversified portfolio of shares):
http://somersoft.com/forums/showpost.php?p=1303701&postcount=102
I'd be curious to know which two if you don't mind sharing.
How do you make a small fortune on the share market ?
dajackal , BTW I'm yet to hear a property investing equivalent of one of the most common jokes I've heard about share investing , though please correct me if I'm mistaken....
How do you make a small fortune on the share market ?
Start with a large one ...
Cliff
dajackal , BTW I'm yet to hear a property investing equivalent of one of the most common jokes I've heard about share investing , though please correct me if I'm mistaken....
How do you make a small fortune on the share market ?
Start with a large one ...
Cliff