Super
Submitted by Simo_ on Sat, 2020-03-21 11:28
Hey Guys, whats everyone doing with there super, moving it to cash or just leave it and hope for the best?
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Bring on April
SpotHound
Posts: 439
Date Joined: 06/02/14
No Move
If you move to cash your cashing out the loss, stick with it, unless you need to retire shortly.
There is an excellent series of articles on the web, will try to find some.
Billcollector
Posts: 2006
Date Joined: 16/05/09
Pretty much like toilet
Pretty much like toilet paper not looking good for stock but will come back stronger than ever.
sea-kem
Posts: 14853
Date Joined: 30/11/09
You need to leave it, plenty
You need to leave it, plenty of time till you retire Simo. But if you're close make any contributions to cash and leave the principle alone.
Love the West!
Swompa
Posts: 3783
Date Joined: 14/10/12
buy shares in iron ore. When
buy shares in iron ore. When this is over, china will be on a mission to get to the top first.
Jackfrost80
Posts: 8048
Date Joined: 07/05/12
My employer matches voluntary
My employer matches voluntary super contributions dollar for dollar up to 6% so I'm going to up mine as far as I can comfortably afford while the market is smashed.
Officially off the Pies bandwagon
little johnny
Posts: 5329
Date Joined: 04/12/11
Some guys at my work
Lost 130 gran in 3.5 weeks. I stayed with company’s one . No loss . One off lucky ones. Going to take a while to recover I think . A heap of people suffering . It’s not good ,and I don’t like to see it . I personally didn’t think it was going to be this bad.. obviously is .
dodgy
Posts: 4563
Date Joined: 01/02/10
Mine has taken a hit and I
Mine has taken a hit and I was a bit slow to do some shuffling so I'm in now for the haul. Anything extra I'm stashing away ready to ride stock market back up once we bottom out.
Does anyone know where the love of god goes, when the waves turn the minutes to hours?
bradz
Posts: 693
Date Joined: 29/10/07
Brilliant
I work in the industry and the comments here are more rational than almost any online posts (facebook).
You guys give me hope that not every punter is an idiot.
I did then the best that I knew how. When I knew better, I did better.
Meeuwissen
Posts: 744
Date Joined: 29/03/13
I changed to cash a while ago
But I'm with Aus super and buying shares in the ASX 300. Bought Kidman at 1.20 and made money on that and down on pls and clq.
Looking at buying a bubs soon.
Down the Line
Catch the Experience
Mulie
Posts: 546
Date Joined: 20/02/11
I do the same. Have had good
I do the same. Have had good wins and some losses, but this is horrible. I knew it was coming, but not like this. No point in looking backwards.
Mulie
Faulkner Family
Posts: 17861
Date Joined: 11/03/08
I personally can't see the
I personally can't see the point in drawing it out. Most of us will take a hit somewhere along t he line. I'm hoping mine will be ok otherwise I will be working till I'm 75. Not a good thought.
Hang in there everyone. Light will be at tghe end of the tunnel . How long is another question
RUSS and SANDY. A family that fishes together stays together
Mulie
Posts: 546
Date Joined: 20/02/11
Yep, I was out bush when it
Yep, I was out bush when it started and missed the first 10% loss and decided to leave it. Another 20% later, it hurts but I have no option but to ride it out. Six years behind now.
Mulie
Tom M
Posts: 662
Date Joined: 22/09/15
I retired several years ago
I retired several years ago and have been tracking weekly and plotting braphs my super returns through 2 funds plus my wifes for 15 years before and up to current. Currently your super fund has dropped back to February 2019 figures as of this weeks results on my funds. I can speak from experience and do not change to cash when falling market I learnt that back in the GFC. It took less than 3 years to bounce back then for me but was much less for those that stayed with their investment in stocks.
Tom M
Dale
Posts: 7930
Date Joined: 13/09/05
I was about 21% up for the year, I’ve pretty well lost that so far. It’s gonna be a bumpy ride, but I’m hanging on.
"Just because you are a Character, Doesn't mean you have Character."
Mr Wolf
ranmar850
Posts: 2702
Date Joined: 12/08/12
I can look a lot further back than the GFC
We were hit on leveraged stocks in the 87 crash. Against strong advice from my accountant, I liquidated, as we were having to put cash in to prop up our postion. So we went right back. IF we had taken his advice and just hung on, as well as putting in the cash required, I'd be sitting on a pile of money now, a REAL pile. Sell up now, you are crystallising your losses. As to putting it into cash, well, lucky if you break even over the long term.
I sold some shares back in January to buy the new ute. Glad I did it then .
Fletch
Posts: 78
Date Joined: 25/03/13
but
you move to cash to protect the principle at the moment then move back into the market
pelagicyachts
Posts: 1299
Date Joined: 23/02/11
but- you are locking in a
but- you are locking in a loss - equity prices reflect the value of stock based on many facotrs, 1 being the anticipated future value - at the moment that is looking not great, in relaity by the time things get better they will have already moved higher - in short you move now - you lock in a loss, by the time you think things are better, you are moving back in at the top of the market.
I bought NAB stock this morning - its on its knees under $14 bucks but it is paying a dividend of over 10% at the current price - and fully franked......
West Coast
Posts: 331
Date Joined: 10/12/07
Dividend
Don't buy NAB if you are expecting a 10% dividend yield. I suggest they are under $14 because their earnings are going to take a massive hit...like 99% of individuals and companies in this environment.
pelagicyachts
Posts: 1299
Date Joined: 23/02/11
but- you are locking in a
double post
twicther
Posts: 200
Date Joined: 31/12/11
Bradz is spot on
It is good to see this advice on a fishing forum. Hot Copper also gives good advice on all things financial if anyone is interested.
As too Pelagic yachts, nice work, i had a bid in for CBA @ $53.12, missed out by 32 cents in getting into a good blue chip. I feel there will be more chances to come. How to pick a bottom at a time like this.
As for super i am lucky because i am in a Defined Benifit fund, which isn't linked to the markets. 25 years and going strong. I do have a small component in the market which i haven't bothered looking at because i missed the chance to change portfolios early on.
Don't look and stress yourself over something you can't control.
Deckie
Posts: 1297
Date Joined: 03/04/09
What if.
What if you are a sole trader ( subcontractor) and the company you work for shuts down.
You rent and the ATO is always on yuor back for GST & the like.
I think if you are still young with plenty of work years in front of you & your doing it hard with bills etc.
10K would go along way to sustain your family until this all blows over.
Can't see the sense in going under when you have funds that is your money sitting there doing nothing as it is at the moment.
What are your thoughts on that ????
Cheers.
Cheers & Stay safe
Mrlickalotopus
Posts: 108
Date Joined: 27/07/16
There's some brilliant deals
There's some brilliant deals out there on the NYSE. I'm planning a major purchase very shortly as we have quite a bit of USD at the moment doing nothing. I watched a Pharmaceutical on Friday night gain 293%. There's still plenty of time and when the infection rate recedes globally you'll need to get in quick.
bradz
Posts: 693
Date Joined: 29/10/07
$10k
Hi Deckie
While I am not normally keen on the early release of super for buying houses etc, I think in this case it is a no brainer. And the good thing is that it is $10k each financial year. So you could get $10k in April and another $10k in July. That should keep the wolf from the door of many Australians. If you are a couple, that is effectively $40k you could get tax free in the space of just 4 months. That will help soooo many people it is not funny.
This does not even include the increase to Newstart (or whatever it is called these days).
When the government keeps its powder dry, in times like these they can fire off some really good shots.
They havent done a perfect job...no government has, but in my opinion we are probably in the best country in the world to deal with this crisis.
I did then the best that I knew how. When I knew better, I did better.