14th Jan 2016
FONT SIZE: A+ A-
Superannuation: returns set to take a hit in 2016
Superannuation: returns set to take a hit in 2016

It’s already been a challenging year for the share market, leaving many Australian retirees concerned about their retirement savings, as superannuation funds are expected to take a hit in 2016.

Australian super advice firm SuperRatings estimates that super funds will incur a 0.5 loss in the first half of the 2015-16 financial year, due to uncertainty in the global share market and a decrease in investment returns. This may mean that Australian retirees could see a loss on their earnings for the first time since 2011.

So far this year, the average super account has lost 2.5 per cent. This loss comes on the heels of low global interest rates, falling commodity prices, China’s economic downturn and share market upheaval.

Warren Chant, from superannuation consultancy firm Chant West, also expects a minor loss over the first half of the 2015-16 financial year, estimating that, overall, Aussies will receive an approximate 4.3 per cent return in the first half of the 2015-16 financial year with a 0.1 per cent loss projected for the second half.

He also stated that local super funds had posted healthy returns since the global financial crisis (GFC) and that members should be patient.

“[During] the GFC, the typical member lost 21.5 per cent that calendar year [2008],” he said. “In the seven years since then there’s only one year when there’s been a negative return.”

Director of research at financial advice company Rainmaker, Alex Dunnin, has some good advice for Aussies starting to panic about their returns.

“When you start to judge super funds, don’t judge them by one particular month or one particular quarter,” he said. “Super funds may well have a negative six months but over the year they are probably still going to be positive.”

And before Aussies break into a cold sweat over short term returns, Mr Dunnin feels that super fund members would be better served by re-assessing the management of their income and accounts.

“They should be thinking about the fund they are in, they should be thinking about whether the fund they are in actually knows what they are doing,” he said. “Have a good diversified portfolio so you are spreading your risk across different types of investments.” 

Read more at www.abc.net.au
Read more at The Sydney Morning Herald

Opinion: Retirees wise to “stay in the game”

Whilst many Aussie retirees may be panicking in the face of the first reductions in super income for years, they would be wise to judge their superannuation returns over the long term and not ‘jump ship’ in the short term.

Even though the share market slowdown has hurt super fund earnings, they have still posted consistently healthy returns over the last seven years, including 8.5 per cent in 2014, 17.2 per cent in 2013, and a 12.8 per cent return in 2012.

So 4.2–4.3 per cent may not be the type of return you’re used to, but it is still a positive return.

Super funds may be taking a hit at the moment, but financial experts are calling on Australians to not panic and “stay in the game”.

Anyone involved in stock-market day trading will tell you that there will always be peaks and troughs in day-to-day market earnings but, unless you are forced to sell your shares, you are playing a long-term game. The current financial climate, though unnerving, may provide a bit of a wake-up call for fund members to review just how effectively their accounts are being managed across the board. 

It should also be mentioned that worried super fund holders would be well-served to seek the assistance of a good financial planner before making any changes to their retirement savings accounts.

What do you think? Are you worried about taking a loss this year? How will this affect you? Have you sought the advice of a financial planner in the wake of (or prior to) the current unrest in the share market? What advice did you receive? What advice would you give to your fellow super fund members?





    COMMENTS

    To make a comment, please register or login
    Tom Tank
    14th Jan 2016
    10:46am
    Superannuation is a long term investment intended for security. Keeping that in mind those with super should hold their nerve and let any hiccup like this take it's course. The worst thing to do would be to rush in and make changes which will realise the losses which are paper losses at this stage. Look long term.
    The biggest losses will be to those who are seeking the greatest return and therefore are taking the greatest risk, that is why the returns are larger. Common sense really.
    I suspect that, as always, the industry funds will perform better than the commercial ones.
    Anonymous
    14th Jan 2016
    11:02am
    "Superannuation is a long term investment" - this is true, BUT are your remaining years of life in the long term, as well? Your advice appears to be that of a financial advisor who hardly ever seems to take an older person's age into account. The older one gets the less attractive a LONG TERM proposition becomes. Age is certainly a figure which must go into the equation when considering ANY investment!
    Rae
    15th Jan 2016
    7:56am
    I have to disagree Tom Tank.

    Firstly Superannuation is not an investment at all. It is a supposed tax minimalisation scheme and fails entirely the security test due to the constant government changes that create huge sovereign risk with savings inside super funds. And rules around the use of those savings and other benefits forgone due to those savings.

    Buying high and panic selling during corrections will consolidate losses for sure. This applies to any portfolio of investments. Hopefully fund managers don't do this as it is not their money so they are less likely to panic. However they are constrained by the fund itself and the mix of investments locked in by the fund rules.

    My own experience over 45 years of investing both in and outside super has been to beat the fund by over 300%. Whether this was because of the different mix I used, the fact that property was included in my portfolio but not the funds or due to fees and charges is unknown. The fund returns were fairly low for most years. It was an industry fund.

    Fast Eddie is right. If the index continues to bump along for another decade or two there will be few gains and older investors just don't have the time to wait out volatile markets.

    A National scheme, with low fees and nimble, experiences, smart managers would be a far more efficient vehicle for those poor souls terrified of paying tax. Superannuation as it is does not meet the Pareto Efficient test in my opinion.

    My belief is if I am paying tax I'm making money and I therefore welcome that tax bill. It is also a subtle way of contributing to a society without a lot of effort on my part.
    buby
    17th Jan 2016
    11:30pm
    bUT I agree with Fast Eddie. I managed what was left in my super, and i have certainly have done better than my fund would have done for me.
    Plus i get to use it if i need to its there. Otherwise i don't use it.
    Its not much but its doubled since i took it out of my fund, so i'm happy bout that:)
    MICK
    14th Jan 2016
    10:51am
    Leon: did you read what the Royal Bank of Scotland said a day ago? I've been seeing predictions for 2 years stating where we are heading. If what is forecast comes about then losses on assets (and superannuation!) will be huge....and "m not talking about 20% but rather multiples of.
    Doom and gloom soothsayer? Maybe. But given the number of truly independent writers who are all playing the same tune it is indeed likely that the self fulfilling prophesy is coming after us all. It won't be pretty and China going back on the boil (unlikely) is th eonly thing which will save us. We'll see.
    Methinks you might like to do some research into this as this is going to be a long road down from what I can see. But who am I to make a call like this. Hopefully just the canary in the coal (oops!!!) mine.....a smile to this government's face(s).
    Bonny
    14th Jan 2016
    3:28pm
    Love this end is near stuff myself as it usually means that the market is about to capitulate where those who have waited cannot wait in more and sell.

    I sell as the market rises towards it's highs and buy when I start to see capitulation. Today is looking like it might be the day or close to it.
    MICK
    14th Jan 2016
    4:12pm
    Better than I normally do. So why are you drawing a pension if you are doing so well Bonny?
    Bonny
    14th Jan 2016
    5:18pm
    I am not drawing any welfare from Centrelink. I earn money from my investments and live off a portion of that. Rest is reinvested or held in reserve until I find something to invest it in.
    Bonny
    14th Jan 2016
    5:19pm
    I am not drawing any welfare from Centrelink. I earn money from my investments and live off a portion of that. Rest is reinvested or held in reserve until I find something to invest it in.
    Anonymous
    17th Jan 2016
    3:20pm
    It seems to me to be rather arrogant and insensitive to boast about being able to sell as the market rises and buy when it capitulates when so many retirees are doing it tough and are unable to achieve enough income to live on, let alone set anything aside to buy in a depressed market. And then, Bonny, you aggressively support proposals for pension changes that make it much tougher for the less fortunate.

    You are obviously privileged, living on a ''country estate'' with household help living rent free on the estate, and clearly having received a good education. And it's obvious you have ZERO empathy for the disadvantaged, and ZERO appreciation of the challenges and difficulties many retirees have had to overcome, and still face.

    SAD that people with such tunnel vision and lack of appreciation of how the real world works are allowed to vote and to influence decisions that impact adversely on hard-working battlers who never had the opportunities you obviously enjoyed.
    Nan Norma
    14th Jan 2016
    11:28am
    Years ago I used to receive a free newsletter from a financial adviser in Sydney. He forecast a financial tsunami on it's way caused by America housing collapse. I wished I'd believed him. Shortly after the GFC his website disappeared.
    KSS
    14th Jan 2016
    12:31pm
    I remember something similar Nan Norma. Someone predicting the end of the world in the property market. He had even sold his own property in readiness for the apocalypse. Unfortunately for him it did not occur and he ended up looking like an idiot.

    Maybe that's why your advisor's website disappeared........
    Bonny
    14th Jan 2016
    3:43pm
    There is one fellow that has predicted a big downturn in the markets and claims to have predicted all the last downturns. I guess it easy to understand when you realise he predicts a downturn in the markets every year. He must get it right once in awhile.
    MICK
    14th Jan 2016
    4:17pm
    Correct KSS....but he may be having the last laugh.
    The thing is to NOT listen to those whose income relies on those of us who buy and sell shares and/or property as these soothsayers have a vested interest in keeping the market calm. That brings us to those with a track record and we are now seeing others who have called it right several times all saying the same thing: a depression like none of us can ever remember and DEFLATION. I know who I'll believe but let's wait for the fat lady to sing.
    Bonny
    14th Jan 2016
    7:00pm
    Had an interview with one of the financial advisors for over 2 hours with him saying how good he was etc. He thought he had convinced me and handed me some forms to fill out. So I said only thing I really want to know is how well these investments do. He first tried to tell me that pass performance doesn't really matter it is the future that counts. So I said I know what sort of results one could get in the past so I wanted to see how his stacked up.

    I think it was at this point he knew he was beaten so he reluctantly showed them to me. I was actually shocked how bad they were. I politely told him I would take them away and study them then let him know if I wanted to go ahead. I didn't even get a follow up call from him.
    Nan Norma
    14th Jan 2016
    7:27pm
    KSS. He was not my adviser. he was right. Within weeks the GFC arrived and I lost $15.000. I'd only just taken out superannuation the week before.
    Adrianus
    15th Jan 2016
    12:53pm
    Nan, you should have cancelled it and had your money returned.
    Mez
    14th Jan 2016
    12:01pm
    I strongly suggest that everyone do monthly checks online with their super performance or should I say MONTHLY MANAGEMENT OF THE ASSET CLASSES ACCORDING TO ONGOING NEGATIVE OR POSITIVE FIGURES AND TRENDS OVER THE YEAR!
    For nearly a year since being on a pension, I have been doing this and have learnt much and I wish that I had done this many years ago because of the slackness of the financial advisors and or managers.
    For example, figures have been entered into asset classes into where I had chosen NOT to have anything into and consequently there were negative figures AT MY LOSS!
    Since many phone calls and requests over the last few months I have NOT received written explanation except for fruitless promises by Hesta to investigate the issues.
    However, since Nov. they have altered the whole website layout so that I and others will not be able to see our individual figures except for the general fund performance as before.
    This is a big cover up for their mistakes and slackness in returning figures for the specific month's performance instead of a month to 3 months later!
    I am now taking step 2 in taking the matter to the OMBUDSMAN to rectify and refund money owed to me which was squandered by the fund managers!
    The new website has issues and not as good as before and when I received a letter from
    I strongly suggest that everyone keep tabs on their funds and not to bd complacent and I have never worked in the finance sector but I do have commonsense which is all one needs for this.
    Stork
    14th Jan 2016
    12:21pm
    I wonder whether I was 'diddled'. I took out my long service entitlement when I retired, and at the same time applied for the age pension. I was made to wait for many weeks before pension payments began. I was told by Centrelink that my long service payment must last at the same rate as the pension per fortnight. Should I have taken out my long service while still working, it would have lasted at the rate of my average pay per fortnight over the previous 12 months, far less in terms of weeks, or months. It seems very unfair.
    Were Centrelink correct in making me wait for the pension while I used up my long service payment at pension pay rate?
    Bonny
    14th Jan 2016
    3:25pm
    Centrelink makes you wait the number of weeks covered by your final employment payout. eg If you get 86 weeks pay you wait 86 weeks.
    GrayComputing
    14th Jan 2016
    12:21pm
    Having lost more of 1/2 of my super in the last GFC (no thanks to MLC) I drew out all my super that was left and paid out my mortgage. Now at age 70 and still enjoying part time work I refuse to put any money into a super fund.
    All Australians should clearly realise that this insane private super scheme is our governments (past and present) nasty way of washing it hands of any responsibility and care to the elderly and retirees.
    We must force our government into a better, safer good long term solutions by a boycott.
    The achieve this all Australians should stop paying super right now and stop losing you hard earned money to the legal robber barons in the superannuation arena. Len
    KSS
    14th Jan 2016
    12:46pm
    GrayComputing what you are asking for is a guaranteed return on savings. That will never happen. Whatever investment strategy you use there is always a level of risk involved and it is up to the individual to assume the amount of risk they are comfortable with. Higher risk means higher returns but also higher losses when things go wrong. Even putting it in a sock under the mattress caries the risk that inflation will outstrip the savings and you will end up with less than you thought.

    And I do agree with Mez that people should be taking much more interest in their super accounts and where the money is invested. For private funds like MLC this is even more important as you generally have greater say in where your money is invested. Less so in industry funds which are less specific.

    So whilst I understand you are unhappy with your losses you also have to remember that there is only a loss or profit if you cash in the investment and realise the loss (or profit) as Tom Tank said. Until then it is all pretend!
    MICK
    14th Jan 2016
    4:19pm
    Don't ever buys shares GrayComputing.
    No such thing as a guarantee on anything other than death and taxes. Get used to it.
    TREBOR
    14th Jan 2016
    12:37pm
    The superannuation scheme - apart from the public service one which is guaranteed by your taxes - was always flawed in that it depended entirely on market fluctuations, and thus was always vulnerable to any sudden nose dive in world or national economies. At the same time - since it was set up to NEVER offer a HIGHER return than suited the fund, regardless of market fluctuations upwards, but that extra was absorbed into 'bonuses' and other feather-bedding for boards etc - the contributor was never going to get any 'windfall' extras in his/her scheme - but would always accept the losses.

    In our current economic climate, with our national economy groaning under the weight of incompetent leadership from 'business' and government - many people look set to suffer in both the short and long term.

    This resurrects my long and oft repeated call for a National Superannuation Scheme with a guaranteed return on investment in this country. Such a scheme would include the payments already earmarked for Pensions and personal contributions set at a fair rate... all out of control of the grasping hands of politicians.... and under such a scheme Pension would be the minimum.
    MICK
    14th Jan 2016
    4:20pm
    And people wonder why governments long ago pushed workers into private funds. Smart move.
    robnlee
    14th Jan 2016
    12:47pm
    Investment advice must be the most inexact science known to man. NOBODY gets it right. I take 5% in an allocated pension and my capital has reduced annually the past 5 years. So to say this could be the first loss since 2011 is not correct, in my case.
    Mez
    14th Jan 2016
    12:53pm
    One's own commonsense in investments is better than a financial advisor except in rearranging one's financial affairs in times of sudden changes.
    Industry funds might be good in terms of performance but in mine it has not been good nor forthcoming in customer service.
    MICK
    14th Jan 2016
    4:23pm
    Do you not understand that investment 'advisors' look after number 1 and that the advice you get from them is of dubious value. ANd then there are those who have done a 5 week course and are experts to advise investors. Yeah right.
    You have to use your own noodle and then hope that you have made the right call. Not easy. Plan B is to pay sqillions like the big end of town and get proper advice.
    MacI
    16th Jan 2016
    6:26pm
    robnlee - Methinks you need to be looking around for another Super fund if it hasn't been earning more than 5% in Pension phase. My fund, and it is by no means the best, has returned an annual average of 6.8%, 7.1%, and 9.1% for Conservative (70/30 defensive/growth), Moderate (50/50), and Balanced (30/70) over the period 2011 to 2015. Maybe your fund is charging excessive fees.
    Mez
    8th Feb 2016
    12:20pm
    Exactly, Mick!
    I nearly choked when I was told by a Hesta super fund financial advisor that they charge $2000 - $3000.00! OMG!
    Adrianus
    8th Feb 2016
    3:57pm
    You know how it is with advice. You only want it if it agrees with what you wanted to do anyway.
    Mygasheater
    14th Jan 2016
    2:26pm
    It's alright folks, super and the stock market are long term investments.

    Yeah, if you're 23, the markets will recover and you will recover your losses.

    But what if you're 83?
    Bonny
    14th Jan 2016
    3:31pm
    Long term would be hitting the ton.
    KSS
    14th Jan 2016
    3:32pm
    Not to worry Mygasheater, at 83 you probably haven't got long to go! hahah
    MICK
    14th Jan 2016
    4:24pm
    Go to the track heater!
    Adrianus
    15th Jan 2016
    10:24am
    Mygas when one gets to 83 ones needs are different. Most of us at 83 no longer need a Mohawk hairstyle either.
    particolor
    14th Jan 2016
    2:33pm
    O Dear !! :-( there goes the rest of My Cash ? I'll just have to line up at Centrelink now behind the Fat Penguins ! :-(
    particolor
    14th Jan 2016
    2:37pm
    Super Money has a Bad Habit of Disappearing into an Invisible Black Hole ? :-( :-(
    Mez
    14th Jan 2016
    3:25pm
    Ha ha!
    Certainly a lot of fat penguins there!
    particolor
    14th Jan 2016
    3:45pm
    I though so ! :-(
    Adrianus
    15th Jan 2016
    10:27am
    For many people superannuation collected at retirement is a way of renovating the house, buying a caravan and taking a holiday, so as to maximise welfare.
    particolor
    8th Feb 2016
    10:23am
    And probably having the Last T Bone Steak You'll ever see again in your life ! :-(
    Chris B T
    14th Jan 2016
    2:50pm
    The disclaimer always used past performances are no indication of future outcomes.
    That statement alone is the reason not to trust any fund.
    20/20 hindsight is wonderful. As the song goes (Hit me once your fault - Hit me twice my fault).
    JUST LIKE THE GFC, ITS ONLY THE BEGINING OF WHAT IS TO COME.
    As others have Stated the older you are the less likely of recovery. Being the rider in the storm is about to come true, how you can take the financial hit. Best Of Luck.

    14th Jan 2016
    3:08pm
    I have a self managed super fund so I know everything that is going on if I lose its my own fault but with shares I never sell until I make a profit paper losses are just that you hang on and make sure you have enough cash to keep going. Just have a small percentage in shares and other risky things . I do read everything I can get my hands on regarding investments to keep me up to date.
    Bonny
    14th Jan 2016
    3:39pm
    I wouldn't have any super if I didn't have a self managed super fund.

    Managed funds to me are where you park your money if you want everyone else to get their share first and you may hopefully pick up the leftovers. Investment property is the same.

    Good thing about my self managed fund is that I know where the profits and losses have happened whereas a managed fund it is so hard to find this out that in most cases you never know.

    I am not looking forward to the day I may have to hand it all over to these managers. That I think is the day that I enter the world of term deposits instead.
    Anonymous
    14th Jan 2016
    4:32pm
    Term deposits would be much better than managed funds you will lose the lot on them.
    Even at the moment there are some saving accounts with reasonable rates such as Bankwest, Ing and Rabo bank all are at 3% or better.
    Bonny
    14th Jan 2016
    5:07pm
    Problem is term deposits rarely have a positive return after inflation and taxes so I don't use them. But if I had to get someone else to manage my investments then it would be term deposits or similar.
    MICK
    14th Jan 2016
    5:10pm
    Good work robbo. Good to see there are still a few Australians who have a go and do not expect everything in life to be guaranteed, which it never is.
    Bonny
    14th Jan 2016
    5:20pm
    If there is a crisis I don't want to be in second rate banks for a relatively small extra gain.
    Foxy
    14th Jan 2016
    6:17pm
    ...hey Bonny - does ya "toy boy" factor into your yearly budget??? Was just wondering what "luxuries" you spend on him? Also - the housekeeper you have? Were you the one on the news the other day that had the $1 million gold vacuum cleaner made in Dubai ....... nice! lol lol lol
    Bonny
    14th Jan 2016
    6:48pm
    Why would I need a gold vacuum cleaner? I don't use a vacuum cleaner anyway. Housekeeper does that. I don't spend any money on luxuries for my toyboy as I have no need to impress him. He stays because he wants to stay not for any perks etc. He did give me a gift though. 6 pumpkins that he found on a vine that grew wild. That is about as luxurious my lifestyle gets.

    I think I just heard him outside cleaning my car. It's one of those new ones that robs the driver of things to do. No key, locks and unlocks itself, wipers know when to come on, headlights know what to do too, takes your phone calls etc. I drew the line at park assist as I wanted to be able to do something.

    Gave the housekeeper time off as she wanted to go and see a movie this afternoon with a friend of hers.

    What luxuries would I want when I've got what I need. Luxuries are only for people who can't really afford them.
    Adrianus
    15th Jan 2016
    10:30am
    Bonny you need a vacuum cleaner to suck up all the money off your bed after you've been playing with it...LOL :)
    *Imagine*
    14th Jan 2016
    5:37pm
    In 2008 before the GFC the ASX top 200 companies was running around 6700 it dropped to about 3400 by early 2009 then climbed back to just below 6000 in early 2015 and is now about 4900. In other words it has never recovered to the pre GFC levels despite Superfund managers telling us that we now have have recovered to pre GST balances. The fact is, if your super has recovered, then it is either because of your contributions adding value or you are not mainly in the AUS stock market because the index has not returned to pre GFC levels.

    Always view percentages with a mathematical eye, not an emotive one. If you bought a share for a dollar and it dropped to 50c then you have lost 50% but to make the dollar mark again it has to double from 50c that is an increase of 100%. Therefore, it looks good to tell somebody that their portfolio lost 30% in the GFC but has increased by 10% this year and 10% last year and the year before. So what? you are still behind. Do the maths, if it was originally $10 000 it dropped 30% to $7000. then year 1 up 10% to $7 700; then year 2 up another 10% to $8470 and year 3 up another 10% to $9317 so you are still $683 worse off that is nearly 7% down still. Isn’t maths wonderful?
    Bonny
    14th Jan 2016
    6:55pm
    Statistics are just wonderful. 100% of nothing is still nothing. Even at 10% compound it takes 7 years to double your money. The magic number 72. There is one to triple your money but I can't recall it at present.

    I just love those percentage electricity companies use to entice you to join them. 15% off what, 20% off what etc. I use a spreadsheet now and work them all out. Most have a big fail and actually cost more than the one I use.
    MacI
    16th Jan 2016
    6:53pm
    Imagine - you forget to include dividends. With dividends the return on the index is reasonable, if not great. My Super Fund's 7 year average return (capital & dividends) from Sep 2008 to Sep 2015 for its Australian Shares Index option was 6.6% and encompasses the rock bottom of the ASX in 2008. With dividends included the stock market has recovered from GFC levels if perhaps only moderately. Of course for anyone who was unfortunate enough to cash in when the index was at it's lowest it's a long way back.

    14th Jan 2016
    5:47pm
    So, it's a long term game and you have to stay in to avoid losses, but you have to cash out and live on the money because the government is cancelling aged pensions and insisting people must live on their savings. Somehow, there appears to be a contradiction here that is going to make it very difficult for younger retirees, in particular. They want to stay in the game to avoid losses, but they are forced to draw out to survive, and even small drawings combined with asset value reductions and minimal income implies concern for the future.
    Bonny
    14th Jan 2016
    6:14pm
    You need to have atleast 3 years if not 4 of pension payments in cash within your super fund to ride out the cycles. Rest can then be in growth investments. This does not always happen in a retail fund.

    Just don't die at the bottom of a cycle or if you do tell you kids to ride it out.
    Adrianus
    15th Jan 2016
    10:07am
    Rainey, I agree with there are contradictions galore surrounding Superannuation.
    If we are to understand Superannuation more clearly then we need to separate the information into the following groups, but not limit it to.
    1. Superannuation Legislation/Rules e.g. SIS Act.
    2. Superannuation/Trustee Rules applicable to a specific Fund.
    3. Allowable investments and their relationship with a specific Fund.
    4. The behaviour of said allowable investments.
    5. Political overview and any proposed changes anticipated by LNP or ALP/Unions.


    Bonny, did you mean "just don't retire at the bottom of a cycle?"
    The level of cash for pension payments is a balancing act and to some extent may be determined by the time horizon/volatility of other investments.
    Bonny
    15th Jan 2016
    11:56am
    No it's easy to time your retirement but no that easy to time your death. I was talking about dying at the wrong time with a super fund in pension mode.
    Adrianus
    15th Jan 2016
    12:20pm
    Oh I see :) You may not have enough time to put it into dying mode. Particularly if you're on pain killers. "Being of sound mind and all that stuff?
    Adrianus
    15th Jan 2016
    8:47am
    Last week the headline was Super Funds to average 5.3%.
    A week is a long time in a 50 year savings/investment account.
    MacI
    16th Jan 2016
    6:07pm
    If you want to top up your anxiety over the predicted gloom and doom in 2016 you have to watch the movie "The Big Short" that has been released this week. It presents a fascinating and entertaining insight into how we got to the GFC and how the bankers got away with it and a few sages who bet that the housing market in the US would collapse made a mint.
    Mez
    17th Jan 2016
    9:58am
    Will keep that in mind......thank you.
    Wolf of Were Street is a good stock exchange movie with Leonardo di Caprio in it.
    PIXAPD
    17th Jan 2016
    1:27pm
    The ASX goes up and up and down like a yo yo, so too do Super fund balances, that's life folks. I like to watch and see what will happen, it's fun...maybe all super funds will go broke and members lose all, maybe the funds will grow and members earn. To me it does not matter what happens..it's fun to watch. 2016? a year for the roller coaster ride of your life, hang on and have fun....
    PIXAPD
    17th Jan 2016
    5:37pm
    The full aged pension is loads to live on..... no worries...even save some
    PIXAPD
    18th Jan 2016
    7:46am
    $1000 fortnight is plenty.....
    Circum
    17th Jan 2016
    7:55pm
    Goodluck to you PIXAPD,sounds like you are happy.Best not let Scott Morrison see any money in your pocket as it will appear that you are getting too much welfare.


    Join YOURLifeChoices, it’s free

    • Receive our daily enewsletter
    • Enter competitions
    • Comment on articles