Retirement Savings Account

I am thinking of transferring my ING Living Super into Retirement Savings Account (RSA) because of the newly introduced fees.

I have read posts regarding LICs ETF and direct share trading but I have no confidence that I can preserve capital. At least if I transfer the Super money into RSA my capital will be safe.

At this stage I am not thinking about any sort of insurances because I don't think our family needs it and also because of sporadic contributions that we make into Super the insurance premium would eat away any profit made.

I am not a complicated person, but because of low balance ($7000 hubby $30K me) I think I will be transferring ours into RSA. Will anyone be doing the same thing?

 

Not from inflation.

With those balances I can only assume you have a fair way to go to retirement. IMO the bigger risk is missing out on decades of compounding not short term capital loss.

Most people here are looking at growing their nest eggs so I don't think an RSA would be of much interest other than those nearing retirement and are extremely risk adverse.

I too am thinking about what to do given the changes with ING. Thinking of an industry fund with basic shares option until a SMSF becomes more economical

 

Agree with @Hodor

Cash is almost a guarantee of losing money long term. I have been looking at Hostplus and Sunsuper. You can allocate a percentage to cash based on your risk profile. If you intend on investing for longer than 7 years I'd put it into the sharemarket. There may be a crash tomorrow but no-one knows.

Not advice

 

How close are you to retirement? Are you planning to withdraw your super as a lump sum soon?

If you can't touch it for 10 years or so, be brave and let it grow (not in an RSA account) instead!

my opinion only, not advice