Anyone else lost Super money?

[DjPete]

Just curious,
Got my statement the other day.
I wont say exactly how much I lost but well over 10,000 in 12 months.
My wife works at NAB and says not much you can do....everyone is in the same boat and that they try to put the funds in the best return..
NOT happy Jan (If thats your real name)

[Louwai]

Before the current "issue" I changed my super from the company in Bris to here in Melb.
they had to "sell" & then "buy" to change over.

I lost $15k in the sell - buy process. That's not counting this market drop. Probably another $10k or so.........

[DjPete]

so much for the Gov pushing go into Super...safe as...
Not happy Jan (Im sure that is not your name!)

[BUSGO]

Super is always a long term investment.
Even though I lost money this year on it, I made more last year than I lost this year (SO FAR).
I got my statement too and it wasn't a pretty sight!
It will bounce back and if you invest more when it is low, you are better off when it goes back up again.

[horndog]

I think the question should be did anyone make any money on super!
Most super funds lost between 7 & 12 % this year.

I have just switched to Macquarie and have split my money over about 10 different money funds to try and spread the risk out (on the advice of my advisor) I also found out you can pay for life insurance from your super as well. I feel better knowing the wifes new husband and kids new dad will be comfortable if I ever kark it

[DjPete]

mine works out to 13%
told you communism is better.

[Dan85]

i made about 5% but im in a capital garunteed option for most of my money part of it is in high risk stuff but its made a shit load more than ive lost so far

[BUSGO]

I'm certainly not a financial advisor Dan and you are currently lucky to have your money in Capital guaranteed.
BUT for a young fellow with a long working life ahead of you, you SHOULD have most of your super in a high or moderate growth option. Capital guaranteed is usually where the pensioners put it so they have a steady income.

[Dan85]

busgo it was the advice i got leading upto the "crash" was about 18 months ago he said to change to mainly capital garanteed with an element of high risk to push the earnings up a touch untill things settle he said then revert back to a balanced option

[BUSGO]

Good advice Dan. Sticking it back into High or Moderate growth now that the market has bottomed out is the best time to move it again. (So long as the market has hit the bottom. I don't think it's gonna go much lower now).
You get more shares for your buck while they are cheap.

[Rev]

If you cash out now you will lock in your losses making them unrecoverable.....

[DjPete]

If you cash out now you will lock in your losses making them unrecoverable.....

yes but some (including me) cant do that...
If I could it would all go under my bed.
(Please do not disclose this to anyone!)

[BUSGO]

Japan is in trouble.

Following the problems with Lehmann Bros and in the sub-prime lending market in America and the run on Northern Rock, HBOS and Bradford & Bingley in the UK, uncertainty has now hit Japan.

In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.

Yesterday, it was announced that Karaoke Bank is up for sale and will
likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.

While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.

Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.

[kawasuki]

I have my $$ under the bed . I took Mr M. Frazers advice years ago.
It is guarded well so i dont worry about littles intruders, or big ones for that matter.

[DjPete]

Japan is in trouble.

Following the problems with Lehmann Bros and in the sub-prime lending market in America and the run on Northern Rock, HBOS and Bradford & Bingley in the UK, uncertainty has now hit Japan.

In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches.

Yesterday, it was announced that Karaoke Bank is up for sale and will
likely go for a song, while today shares in Kamikaze Bank were suspended after they nose-dived.

While Samurai Bank is soldiering on following sharp cutbacks, Ninja Bank is reported to have taken a hit, but they remain in the black.

Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.

You had me going there..