me_irl

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me_irl (lemmy.radio)

submitted 7 hours ago by sanitation@lemmy.radio to c/me_irl@lemmy.world

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[–] Eyekaytee@aussie.zone 7 points 7 hours ago (2 children)

pretty good here in Australia, we have superannuation which is basically like a forced savings account so when you retire you get a nice little present

[–] prex@aussie.zone 3 points 6 hours ago* (last edited 6 hours ago) (2 children)

Except everyone's looking for ways to spend it science covid.

There are ads on YouTube now for Self Managed Super Funds that allow you to ~~gamble~~ invest in stocks, ETF's & I dread to think what. Prediction markets?

Edit: super is still a pretty good idea.

[–] phonics@lemmy.world 1 points 2 hours ago (1 children)

Well it's either you gamble it or you pay them to do it for you. If you just go s&p500 and vanguard world anyway might as well do it yourself and save some fees.

[–] prex@aussie.zone 1 points 1 hour ago

Industry super funds usually have super low fees and a fairly conservative investment strategy. Theres AUD$4.5trillion invested between them all

[–] waz@feddit.uk 1 points 5 hours ago (1 children)

For once the UK system looks ok in the world; our ’forced savings’ of ‘national insurance’ paid as a tax style deduction on wages can’t be touched till state retirement age, so you’ll get it when you retire and it’s paid monthly not a block. It used to be set at 65, now it’s on a rising rate for people retiring in the next years. I’m in a group that will need to be 67. It’ll be really basic, and a private pension is expected in addition if you want to have a nice retirement rather than just managing.

[–] prex@aussie.zone 1 points 5 hours ago (1 children)

Think of super as the same, but you employer matches your forced contributions and, up to a limit, voluntary ones.

[–] waz@feddit.uk 1 points 4 hours ago* (last edited 3 hours ago)

Better then, for us to get an employer contribution, at least a visible one as they pay tax on employment as well, you go to a private scheme in addition to the state one, but then that’s where some people may not have that, and be reliant on state only.

[–] NihilsineNefas@slrpnk.net 1 points 5 hours ago (1 children)

I heard you can pick and choose where your supers go, so you'd be able to actively 'vote with your wallet' by pulling it out of companies you didnt like, is that actually a thing or am I misremembering a jordies vid segment from years back?

[–] Eyekaytee@aussie.zone 2 points 3 hours ago

sure is :)

I'm with Rest since they were recommended to me working at my first job and they seem pretty competitive and then yeah it's basically just the same as picking ETF's, where you go based on your risk levels you want to take, if you're young pick the riskiest, if you're older and about to retire pick the safest

I am 100% in Sustainable Growth ofc

Maximise returns over the long term by investing in a diversified portfolio with enhanced environmental, social and governance investment characteristics that is weighted towards growth assets.

https://rest.com.au/investments/options/compare#super

You can also self manage your own super but I think only around 5% of people do that