OT: Some Peoples Travel Plans Stuffed Up
Submitted: Thursday, Sep 18, 2008 at 16:49
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Member - DAZA (QLD)
On the News this morning, our Treasurer was commenting about
the recent Fiasco re: Share Market / Insurance Companies / Banks
in the USA, and the repercussion with some of the Superannuation
Schemes in Australia, he stated that some people who planned to
retire shortly, might have to work for an extra 2 or 3 years, to make
up for the Short Fall, that would be absolutely Gut Wrenching,
mean while the Cost of Living goes up, and they will be behind the
8- Ball, with there Plans in the Trash Bin, also it does'nt help the
People who have allready retired re the Share Market ect,
I'm not having a whinge, because I am fortunate enough to be
Self Employed and have our own Retirement Scheme, but I feel for
people who have worked hard and have been put in this situation.
Cheers
Daza
Reply By: Member - Tony B (QLD) - Thursday, Sep 18, 2008 at 16:53
Thursday, Sep 18, 2008 at 16:53
Yes retirement is out for me for,
well I think I will be dead before I can retire, so it will just have to be the yearly holiday and long weekends until I meet that fate. All good though, just looking forward to the next trip. Cheers Tony.
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Reply By: Member - AJB (VIC) - Thursday, Sep 18, 2008 at 16:58
Thursday, Sep 18, 2008 at 16:58
Agree. Super was made compulsory by the government and it is great to plan for the future. I wish we could have gone onto the pollies scheme which is exceptional in comparison to we the working class. My super was going great the last couple of years. This year,
well I think they are too embarrassed to send the performance statement this year as no doubt they have lost some of my money. So my question is, is the loss incurred during the financial year tax deductable because I have been slugged a contribution tax but some of that money has dissappeared!
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Follow Up By: Skippype - Thursday, Sep 18, 2008 at 17:43
Thursday, Sep 18, 2008 at 17:43
That would be wishfull thinking I am afraid AJB.
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Reply By: Member - Footloose - Thursday, Sep 18, 2008 at 17:02
Thursday, Sep 18, 2008 at 17:02
Not just travel plans but retirement ages and standards of living. We've worked hard and put everything into my wife's retirement but she's going to have to work longer now. And that's if we don't end up living in a tent. Blasted super funds, financial advisors etc. Three years ago they assured me that what has just happened, couldn't.
And it's all because of greed and lack of proper regulation by the Yanks. They sneeze and we need to be in intensive care !
Still we're lucky. Hate to be a pensioner relying on C Link and a possible rise next January.
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Follow Up By: Member - Footloose - Thursday, Sep 18, 2008 at 17:08
Thursday, Sep 18, 2008 at 17:08
Of course it's easy to say that people will have to work for longer. What about those who are too sick etc to do it ?
Tough bikkies.
Trust us said the Govt. Put your dough into Super.
I wonder how many Super fund managers and financial advisors will have to work a few years longer?
Maybe the CEO's will only be getting $5mil instead of their 14 mil....my heart bleeds for em.
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Follow Up By: Member - Madfisher - Thursday, Sep 18, 2008 at 20:44
Thursday, Sep 18, 2008 at 20:44
Footy I have a very astute mate who told me this was on three years ago. Told me the yanks would send the rest of the world into recession. A lot of people laughed at him at the time. I am ok as I invested in bullion, which does not give a dividend but safeguards your investment. In fact had I sold in Feb I would have doubled my money, but I decided to sit it out for a while.
He even went to the trouble of hiring a hall to warn people of inpending doom, but he was regarded as mad and nobody would listen except for a few people like myself who knew this bokes track record.
Cheers Pete
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Follow Up By: Member - Footloose - Thursday, Sep 18, 2008 at 21:11
Thursday, Sep 18, 2008 at 21:11
Pete, anyone with half a brain could tell that the bubble had to burst. What I didn't expect was that the
water would dry up :))
Doom and gloom. Oh
well, it's Friday funnies tomorrow :)))
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Follow Up By: Patrolman Pat - Thursday, Sep 18, 2008 at 21:17
Thursday, Sep 18, 2008 at 21:17
Sounds like you need a new adviser, footy. I've never met one yet who didn't warn that investments couldn't do what has just happened.
My investments have headed south in the last financial year, luckily I've got a stack of 5 and 10c coins in the swear jar which should see me right for a while. One of the perks of owning a Nissan is you tend to swear a lot.
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Follow Up By: Member - Footloose - Friday, Sep 19, 2008 at 08:53
Friday, Sep 19, 2008 at 08:53
hahahah....I know a good joke about a Jewish couple and a "swear jar" but it's too politically incorrect for the
forum, even on a Friday.
BTW it was told to me by a Jewish gentleman.
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Reply By: Member - DAZA (QLD) - Thursday, Sep 18, 2008 at 18:25
Thursday, Sep 18, 2008 at 18:25
Hey Footy
Where did Peter Costello & Little Johnny deposit that Future Fund,
was it in Europe or the USA ?.
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Follow Up By: Member - Traveller (QLD) - Thursday, Sep 18, 2008 at 18:54
Thursday, Sep 18, 2008 at 18:54
Why don't you ask KRudd?
He's the man of the moment!
Isn't he?
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Follow Up By: Member - DAZA (QLD) - Thursday, Sep 18, 2008 at 20:13
Thursday, Sep 18, 2008 at 20:13
Hi Travaller
I only typed that with Tongue In Cheek,
KRudd was asked that question this evening on ch2,
and he replied its in the USA, and they are constantly phoning to
make sure the 40Billion Dollars is safe, apparently Leemans has it.
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Reply By: Member - Old Girl (QLD) - Thursday, Sep 18, 2008 at 19:20
Thursday, Sep 18, 2008 at 19:20
Some of our friends like above are self employed and have their own retirement fund sorted. they are laughing at us now. We have an investment that use to cover three of our children's private school fees. Not now. its not only retirement coping the dirt in the face. Were trying to sell a truck. now with imports cheaper we are faced with either loosing heaps of dosh or loosing heaps of dosh looking at it every day parked up. We turn some one elses key now. Either way
young or old if your not sandwiched, you know some one who is.
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