nearly 60, my SMSF now generates >200k each year from dividends and rent. Contributed to my SMSF since 30, mainly to reduce taxable income at the time and self employed so had to make an effort.
Nice work on your saving! I'm 26, and have been working full time for 3 years (and part time for 6yrs prior). I have $36,000 in my superannuation. I salary sacrifice $100 a week. I'm with UniSuper and the fees are pretty good... te max admin fee I am charged is $96. I have a 50/50 investment into their premixed High Growth and Sustainable High Growth. Keep up the great videos!
You're doing fantastic. The first $100,000 is the hardest. Rest super has a new product called "high growth index" which has a tenth of the fee. Gone of the days of high fee funds.
Yer I moved mine from pre-mixed to 50:50 Aus/Int shares. My super doesn't let me pick the individual shares so it's just the market returns from the 2 markets. Sucks that I can't access it for ages but I'm above the average like yourself so I guess that's good.
Hi. I was in almost exactly the same situation as you. And came to almost exactly the same conclusion. Australian Super charges way too high fees for an actively managed high growth fund. I changed to Rest indexed 50% Australian 50% international. The other thing I did years ago that might help you, seeing as we seem to be in similar situations, ditch life insurance. If you dont have kids why are you paying the bloodsuckers in the super industry.
Yeah I think Rest is the way to go with their super low fees for their indexed options. Yes, I also don't have any insurance in my super atm, but perhaps in the future when I have a family.
Hi Raymond, good video on this one! Yes, we want to see your whole portfolio, might as well give us the whole pie rather than a slice of it :P Also, I assume you salary sacrifice your salary to your super I assume as the balance is pretty high compared to average?
You mentioned retail funds on average accruing more fees, however does this apply to Index Funds? Currently have my Super with Rest in their Balanced Index Fund. I'm 24yo.
Hi Raymond, Have you heard of investing in offshore tax haven countries? Like Cook Islands, Hong Kong etc. I am thinking to invest in these offshore funds rather than in Australia (e.g. Vanguard), purely because of the tax escape. If you did, please tell me whats your thoughts?
![Superannuation Tax Changes at Age 60: What You Need To Know [Australia]](/img/1.gif)
nearly 60, my SMSF now generates >200k each year from dividends and rent. Contributed to my SMSF since 30, mainly to reduce taxable income at the time and self employed so had to make an effort.
Nice work on your saving! I'm 26, and have been working full time for 3 years (and part time for 6yrs prior). I have $36,000 in my superannuation. I salary sacrifice $100 a week. I'm with UniSuper and the fees are pretty good... te max admin fee I am charged is $96. I have a 50/50 investment into their premixed High Growth and Sustainable High Growth.
Keep up the great videos!
That's an awesome balance at your age too, keep going!
Rest's international indexed fund option charges 0.1% per year. And tracks the same index as the etf called vgs.
You're doing fantastic. The first $100,000 is the hardest. Rest super has a new product called "high growth index" which has a tenth of the fee. Gone of the days of high fee funds.
Yer I moved mine from pre-mixed to 50:50 Aus/Int shares. My super doesn't let me pick the individual shares so it's just the market returns from the 2 markets. Sucks that I can't access it for ages but I'm above the average like yourself so I guess that's good.
Moving it to international shares! Much better return than high growth.
Me too
Hi. I was in almost exactly the same situation as you. And came to almost exactly the same conclusion. Australian Super charges way too high fees for an actively managed high growth fund.
I changed to Rest indexed 50% Australian 50% international. The other thing I did years ago that might help you, seeing as we seem to be in similar situations, ditch life insurance. If you dont have kids why are you paying the bloodsuckers in the super industry.
Yeah I think Rest is the way to go with their super low fees for their indexed options. Yes, I also don't have any insurance in my super atm, but perhaps in the future when I have a family.
Dod you change to Rest's international index option?
At 8:21, rest or host plus? What you said doesn't match the circled figure...
Hey Nathan it was Rest, mistake on my end
Hi Raymond, good video on this one! Yes, we want to see your whole portfolio, might as well give us the whole pie rather than a slice of it :P
Also, I assume you salary sacrifice your salary to your super I assume as the balance is pretty high compared to average?
Hey Peter, yes I've been salary sacrificing for probably the last 3-4 years. Haha maybe look out for that video in the future 👀
You mentioned retail funds on average accruing more fees, however does this apply to Index Funds? Currently have my Super with Rest in their Balanced Index Fund. I'm 24yo.
Rest is an Industry Superfund so you're in good hands with them! And index funds will always have the lowest fees compared too!
Why the screengrab shows stake when you're with aus super? I thought this is a video on stake smsf!! Click bait!
Hi Raymond,
Have you heard of investing in offshore tax haven countries? Like Cook Islands, Hong Kong etc.
I am thinking to invest in these offshore funds rather than in Australia (e.g. Vanguard), purely because of the tax escape.
If you did, please tell me whats your thoughts?
Sorry Assem haven't heard about that type of investing unfortunately.