Unused gym membership is a mere pittance when compared with the amount of unused data surrendered back into the coffers of the telcos.

Reply to article

For original story, Click Here.

I've deposited my nest egg with Ioof through a financial advisor? I don't know why I need a financial advisor with a fee of 15.000 dollars to do that Would I be better to just put it into Australian Super Fund? Warm regards

Issy

Reply to article

For original story, Click Here.

What a values-laden article! People have been trying not to die out here in Covid-land. Might I suggest that the journo dip into the Bridges Out of Poverty resources to understand what people have been experiencing, including those in the under-30s age-group who have been hard hit? So that when the experts accuse people of doing self-damage, the journos at Money Magazine can refute the use of blaming language and provide grace and accurate strategies.

Reply to article

For original story, Click Here.

What a load of crap,my super has never compounded. Oats about 10 bucks a month interest and 10 bucks a month in fees. Your not going to grow rich with compounding

Reply to article

For original story, Click Here.

Hi Kenneth. Compounding interest is a gradual process. Visit an online compound interest calculator that provides a graph and check out the annual returns in the last few years of the term (say 40-45years) that's where the high returns occur. Of course annual returns and contributions will be a factor.

My returns seemed pretty underwhelming for many years. After 15 years my balance was substantially under $100k. That year I started salary sacrificing to boost my super account. 15-16 years later my balance is almost $500k. If average returns for the next decade are similar to the past decade (about 8.5%), and I contribute the same amount annually, my super balance will pass $1million (I'll be 60). If the average is lower, say 4%, then about $800k.

I'm with Australian Super. Low fees (compared with MLC whom I was with previously before rolling over). If you are not already with an industry super fund, I suggest you look into one. Retail funds charge more because they are (usually) owned by a bank and accordingly pay dividends to shareholders.

Reply to article

For original story, Click Here.