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Thread: Money matters

  1. #31
    CC Grandmaster ER's Avatar
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    Quote Originally Posted by JaK
    [15-10-2010 12:48 PM]: It's a good thing for young (and not so young) Chessplayers, who, taking advavtage for the strengthening of our currency can visit other countries (including the US) and play in stronger tournaments there! On a comparative scale (1:1) cost of living is actually cheaper in the US than it is here. That's of course if we have the monetary equilibrium established or even as NAB predicts get's to Aus dollar = 1.10 US. ON the other hand I know it's not that good for the export market - then again we have strong contracts. From a personal point of view I am approaching the spending age, so investements aren't that high in my finance priorities!
    Well how is it going youngsters and not so youngsters? Almost a year after I wrote the above you must have saved quite a lot.
    As for my self, having passed the stages of 1) save wisely and 2) invest wisely I am now into the most interesting stage of 3) spend and enjoy LOL.

    Now let's get serious and after the following which I brought to your attention last year

    Quote Originally Posted by JaK
    29-09-2010 03:23 PM Interesting interest rates for savers! Have a look:
    http://www.ingdirect.com.au/savings/...m_deposits.htm
    Rates have gone up and in some cases have reached 7%

    Of course term deposits aren't everyone's cup of tea, however is always good to follow what's going on.

    For me, sharemarket, sound and effective private as well as employer super and real estate was always my preferable and profitable trifecta!

    I was also lucky since being a PS contractor I had my funds protected by Fer Govt deeds - a move for which I will be eternally indebted to Mssrs Howard and Costello!

    Forget periods of finance crisis as the one we are going through now!

    What crisis can negatively affect my buying into BHP during the first stages of the Billiton inclusion in their title in the ridiculous price of $8.35 apiece (a third of the company's share prices two weeks before the merge) and now being almost five fold up the original price?

    Youngsters, enjoy your youth, but also think about your future and money maybe ain't anything but has lots to do with a prosperous future!
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  2. #32
    CC Grandmaster Adamski's Avatar
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    Quote Originally Posted by JaK
    and some of my own news! My superannuation fund (PSS) performed at a rate of 9.2% during last financial year. I was happy as Larry with that because it kicked butt anyway!
    then then ,then and yes THEN! came the biggy
    my other fund (ANZ OneAnswer PS) performed at a very solid 11.24%

    Moral of the story is: Never Neglect your Super! it has worked miracles for me even in hard times.
    Don't forget that thanks to Johny, but mainly to Peter with his magnificent touches, and now to Julia my super is safe!
    In other words, money is above politics as long as the politicians do the right thing, (they did for me) but I am on the ball all the time. after all it's my money!
    Sadly, your funds won't be doing so well this year. Neither is mine. GFC.
    Edit: Just having read your previous post, maybe you public servants are luckier than the general population in this respect.
    Last edited by Adamski; 10-08-2011 at 11:36 PM.
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  3. #33
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    Quote Originally Posted by Adamski
    Sadly, your funds won't be doing so well this year. Neither is mine. GFC.
    Edit: Just having read your previous post, maybe you public servants are luckier than the general population in this respect.
    The PSS one hit 7.9% (unofficial still but I have some reliable info).
    The ANZ (private) still uknown. However, the rate was formed before the recent crisis!
    Market results rather solid for my shares last year.
    Real estateslightly better than expected!

    All in all not such a bad year!
    I hope all the best for you, I am sure you are in control!
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  4. #34
    CC Grandmaster Capablanca-Fan's Avatar
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    Quote Originally Posted by JaK
    The PSS one hit 7.9% (unofficial still but I have some reliable info).
    The ANZ (private) still uknown. However, the rate was formed before the recent crisis!
    Market results rather solid for my shares last year.
    Real estateslightly better than expected!

    All in all not such a bad year!
    I hope all the best for you, I am sure you are in control!
    Good stuff!

    BTW, is there any special advantage in having more than one fund? Wouldn't that increase costs.
    “The destructive capacity of the individual, however vicious, is small; of the state, however well-intentioned, almost limitless. Expand the state and that destructive capacity necessarily expands, too, pari passu.”—Paul Johnson, Modern Times, 1983.

  5. #35
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    Quote Originally Posted by JaK
    Real estateslightly better than expected!
    JaK,
    How did you measure real estate?
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  6. #36
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    Quote Originally Posted by Igor_Goldenberg
    How did you measure real estate?
    One way is via this link

    www.refindhouseprices.com

    Some real nasties (for overly optimistic vendors) listed on that

  7. #37
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    Quote Originally Posted by Jim_Flood
    One way is via this link

    www.refindhouseprices.com

    Some real nasties (for overly optimistic vendors) listed on that
    Jim,
    that's for general market research. But what about personal investment?
    You'd be surprised how much valuations I received on some properties vary between different valuers.
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  8. #38
    CC Grandmaster Denis_Jessop's Avatar
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    Quote Originally Posted by Igor_Goldenberg
    JaK,
    How did you measure real estate?
    A well-tried method is a tape measure.

    DJ
    ...I don't want to go among mad people Alice remarked, "Oh, you can't help that," said the Cat: we're all mad here. I am mad. You're mad." "How do you know I'm mad?" said Alice. "You must be," said the Cat ,"or you wouldn't have come here."

  9. #39
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    Apart from Denis' valid point, I don't know of any good measure for real estate. If you are referring to residential property (which can become a hot and emotive issue) the main aspect from my viewpoint is that it is not homogeneous. The house at 28 Cliff Street is not the same as that at 30 Cliff Street yet real estate spruikers will try an convince people they are. You really only know the price of a property when you buy it and when you sell it. Nowadays anything else is basically guesswork and hope. Gone are the days when the rule of thumb for buying an investment property was never pay more than 7 or 8 times the annual gross rental.

    Also, you never really know what people have done to a property. Buy it for $800k, undertake $400k of renos, sell it at $1m due to a poor market and watch the RE boys claim "Look, a 20% capital gain!" Auction clearance rates are not worth reading as the RE industry include properties listed but sold before, properties passed in but sold after nor are they obliged to report a nil sale result.

    So I simply don't know. All I do know is that at the end of the day it is not what you have but how much you have. I'd rather be in a position of having $1m earning 4% than $250k earning 8%.

    Probably the suggestion from Denis is the best.

  10. #40
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    Quote Originally Posted by Jono
    Good stuff!

    BTW, is there any special advantage in having more than one fund? Wouldn't that increase costs.
    Hi Jono, good question.
    I joined PSS since I started working on a contractual basis with Federal Public Service. Amongst other positive things, and thanks to Howard - Costello policies, this fund cannot have negative performances since the member's / employer's contributions are quaranteed regardless of the market movements!
    As for the ANZ fund I joined long before the PSS so I can't do much about it since PSS does not allow transfers from other funds on its performance basis. (The amount will just stay there gathering dust)!
    Not that I have any reasons to complain about its performances anyway.
    In regards to costs, the PSS has minimal costs whereas the ANZ incurs market costs.

    Quote Originally Posted by Igor
    JaK,
    How did you measure real estate?
    I take this as in how am I calculating real estate value. I do calculate the movement of a range of valuations of my personal property!

    This was an one off posting at present. Back home around end of October. Cheers and good luck!
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  11. #41
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    PHP Code:
    Amongst other positive things, and thanks to Howard Costello policies 
    ,

    With respect, the PSS had nothing to do with Howard - Costello. The PSS was established in 1990 under the Hawke governments. And the principle, as stated on the PSS website that "If you are a contributing member your total final benefit is largely unaffected by Fund earnings because it is ‘defined' by your Final Average Salary and a factor called an Accrued Benefit Multiple. Your Accrued Benefit Multiple is determined by how many years you contribute and your rate of contribution, " has not changed since the PSS's inception.

    However, under the Howard government, they did alter the "no negative return" rule when both the PSS and the CSS were partially unitised so a negative market impact can affect those who may have preserved benefits "If you are a preserved benefit member Fund earnings have a more direct impact on your benefit. Your total benefit is no longer defined by your Final Average Salary and Accrued Benefit Multiple. Instead, the taxed components of your benefit (your member and productivity components) will grow in line with Fund earnings. The untaxed component (your employer- financed component) will continue to grow in line with the Consumer Price Index (CPI)."

    Never as simple as it first seems when governments are involved.

  12. #42
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    Quote Originally Posted by JaK
    I take this as in how am I calculating real estate value. I do calculate the movement of a range of valuations of my personal property!
    Do you mean increased valuation by the bank?
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  13. #43
    CC Grandmaster ER's Avatar
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    Quote Originally Posted by Jim_Flood
    PHP Code:
    Amongst other positive things, and thanks to Howard Costello policies 
    ,

    With respect, the PSS had nothing to do with Howard - Costello. The PSS was established in 1990 under the Hawke governments. And the principle, as stated on the PSS website that "If you are a contributing member your total final benefit is largely unaffected by Fund earnings because it is ‘defined' by your Final Average Salary and a factor called an Accrued Benefit Multiple. Your Accrued Benefit Multiple is determined by how many years you contribute and your rate of contribution, " has not changed since the PSS's inception.

    However, under the Howard government, they did alter the "no negative return" rule when both the PSS and the CSS were partially unitised so a negative market impact can affect those who may have preserved benefits "If you are a preserved benefit member Fund earnings have a more direct impact on your benefit. Your total benefit is no longer defined by your Final Average Salary and Accrued Benefit Multiple. Instead, the taxed components of your benefit (your member and productivity components) will grow in line with Fund earnings. The untaxed component (your employer- financed component) will continue to grow in line with the Consumer Price Index (CPI)."

    Never as simple as it first seems when governments are involved.
    Hi Jim and thanks for the input. In my case, (I am approaching retirement age) salary sacrifice and years of contribution balances the ledger. Additionally, the "no negative return" concept combined with the absence of fund fees contributes to my PSS super. That's even more obvious when I compare my PSS earnings with my private (ANZ) fund which btw yielded a healthy 7.37% in 2011.
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  14. #44
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    Quote Originally Posted by Igor_Goldenberg
    Do you mean increased valuation by the bank?
    Hi Igor! Mainly from real estate agent offers when I give them a hint that I wish to sell!
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  15. #45
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    Real estate is a pain in my view. For my sins I have responsibility for a deceased estate of which a rental property is a part. One of the functions as trustee was to obtain to obtain a registered valuation for the property. Cool. The cost was (surprise, surprise) 10% of the estimated registered value plus GST. It means nothing. All it has done is establish a cost base against which future Capital Gains (if any) will be calculated It does not guarantee that the property will sell at that valuation. No estimate, be it from a bank, finance company, insurance company or any other crystal ball entity can give an absolute as to the price a property will pass from one owner to another.

    Conclusion? Cease stressing and stop trying to guess if selling. Sealed tender is probably the way to go and then negotiate with the highest if you wish. If buying, depends how much you are prepared to fork out.

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