Just went 95% cash in Super - Share Market Correction

When you get your tax bill you might find your returns are diminished, your money would give more value if you just donated to charities of your choice. It will now be squandered by Bill and his entitled followers who wont even be grateful for the donation.

 

Now you tell me !!!

I threw just shy of that re-stocking my wine cellar after the October “crash” last year .

We will have to get together some time down the track to see who made the better investment .

 

and 6140 when posted that you are back in - so a 6.7% increase in that time.

Not sure where this comes from - is it about not following your call to sell Sydney property in 2014 ? We are fine with the decision to have hung on to most of it.

So no correction or carnage coming now ?

 

You’re no stranger to volatility, my comment wasn’t aimed you.

Geez near $350k on wine. I won’t tell @The Falcon, that could bring tears to his eyes.

He he, sounds like a plan. But no contest, you win hands down.

 

I moved to cash in Oct 2018...then to conservative balanced in early Jan 2019....and then Full Balanced in 2 days ago (Feb 12, 2019)

 

Perhaps...but you would have lost a lot more keeping the status quo...i found I have minimized loss...and now up past what I had in Oct 2018....remember this is in Super so the tax is quite reduced....

 

Dear.....dear.....the call I made was very late 2015/early 2016.........if you hung on to your portfolio in places like North Ryde you are down 20-25%.....Colyton...you are down 15%....and it ain't over yet.....the carnage has not started yet.....it takes about a year for mortgagee sales to appear....as unemployment is low....it should be contained...thought in some areas property has dropped 20%....people will never know till they go to sell....

Hilarious ...indeed......it seems you never learn.......

 

You need to look at the Sydney Correct thread where people are posting sales which have dropped...

By the way your $1.6m....home in NR is probably only $1.2m...see below....would ya not agree? A 25% drop....

Houses for Sale in North Ryde, NSW 2113 - realestate.com.au

 

All good - it is not important that we agree - you make the big calls which is fun. Somersoft on 14 March 2015 you formally announce that Sydney has topped out and there will be no further growth.

The reference to carnage here is the share market in your OP. I assume since you are back in that have the same view about a correction.

In properties we sold some, we held some and we diversified and Have not purchased in Sydney since 2013 - so no nasty surprises in the portfolio apart from tax liabilities.

 

We sold our last one in November (long story) so have first hand experience. It’s not fun but still all profits and no losses.

House and granny flat at NR doing well on Airbnb with a commercial mob - so it is keeper. If we did sell pretty sure there would be a large capital gain in any case.

What it got to and what it is now - who knows?

 

Doing a granny flat is just dead equity ...and people are using it as a CF play....

AirBnB...is seriously oversupplied in Sydney...no money in it anymore....

Looking forward to buying blocks of land in the West sub 280k.....basically 2014-2015 prices when the market carnage is over in property....

 

You are correct no carnage in the sharemarket...as I have watched it.....partly because Australian market is fairly valued at the moment. Plan to double my super in about 7-8 years.

 

i came in late,

but back to the topic if you moved all your investment in your super to cash, wouldnt you pay CGT ? now your buying back in to the stock market, it would have recovered some what, assuming you have large portfolio brokerage gonna cost you abit too..

retrospectively wouldn't it be better to just stay in the market? this of course with 20/20 hindsight vision.

asking cause no clue about super, i dont have jack **** in it anyway, asking for my wife.

 

That is why I posted the following earlier in the thread

 

Million-dollar club loses 100 suburbs

This article says it all......the idiots who bought in Box Hill after 2015.... have their proverbial back sides removed....

 

Yes...but a lot less in Super...something like 10-15%.....chump change...compared to the loses. The funds I used are diversified so would not be across the entire portfolio......

 

Not the point, super means you cant access it until preservation age. So if it's the one thing you rely on for "retirement" then your retirement age is restricted is it not?
Thats why I said super is not a strategy for us except for the fact we have some because of SG. The minute we can access it its coming out lump sum and we will deal with it.

 

Super is NOT a strategy for anyone.

Super is an investment vehicle.

I would suggest that one gets financial and tax advice before anyone makes such a brash move.

 

Box Hill is an unusual suburb and a distortion in the data ...

It was all acreage a few years ago. So medians were still reflecting the sale of acreage properties. Some of the acreage properties were still selling in 2017 and 2018. Properties classified as "House" in the data, even though they were actually rural/acreage properties. They were sold off for redevelopment. Hence there was a big spike in medians. You had rural house properties selling for $5M plus in some instances. But generally a band in the $2M to $11M range.

Now there are fewer of the original properties being sold. Hence the medians have dropped off.

I made the same point effectively in the following threads:

• Sydney Entering The Crash Territory?
  
• Sydney prices now in the negative year on year

 

Not much in there, best in our hands to invest and spend.
cant take it with you. No kids so its all mine, mine minnnnnnnnnne !