Super for Lazy People - how to grow it if you don't want to SMSF

Speaking of super for lazy people (or those that really have no understanding of numbers) - what is everyones ideas/opinions on this...
https://qsuper.qld.gov.au/our-products/our-fees

I am currently in the Lifetime Aspire option with total fees of 1.04%. After reading in this area for a while now I am thinking that is a lot of fees. Or are fees that high ok for super funds - just not for LICs?

 

@sharon I'll be reading comments on this with interest.

I'd hesitate to pay those fees for an approach which may be considered , shall we say, ordinary. 100% cash anyone because that's the end logic. However, that's me. Probably good for a lot of people.

"The basic investment strategy of Lifetime is to progressively move from growth assets when you are younger, to more defensive assets as you approach retirement and accumulate more funds."

Curious on whether the investment managers are active or using index. I assume you know State Street are normally associated with index funds, Dimensional, well, could be both.

 

@SatayKing - yeah I didn't think the defensive assets thing was good - but was thinking to opt out of that later. But then I saw that the Aussie Shares option is only 0.27%. That is heaps cheaper. It also says the fund manager for the Aussie Shares option is State Street Global Advisors.....
https://qsuper.qld.gov.au/our-produ...versified-and-single-sector/australian-shares
I think I need to investigate further.

 

That's great...I do have one question hoping you might be able to answer.

Say at commencement I have $2M in assets in super. So $1.6M go to pension bucket (tax free) and $400K go to accumulation bucket (15% tax). This is FY 2017-18.

Let's say we experience a mini GFC type event where portfolio loses 30% (paper loss) so now $2M assets are worth $1.4M. Which means the pension bucket assets are now worth $1.12M (from $1.6M) and accumulation bucket assets are now worth $280K (from $400K). This is the balance at end of FY 2018-19. Am I now allowed to transfer $280K into pension bucket since pension bucket assets are under $1.6M?

Hope I have explained myself. Basically, what I would like to know is once the split happens are there any scenarios under which you can later add assets to your pension bucket in future years due to capital losses in your pension bucket assets?

Cheers,
Oracle.

 

No it work’s both ways. Once you have used the 1.6M limit it can fall or rise but you cannot put anymore into a pension.

 

It’s a bit long but this article sumarises it
Retirement phase: A super guide to the $1.6 million transfer balance cap

 

It appears that the Aussie Shares option is just State Street’s ASX 200 Index Fund with extra fees on top of the standard 0.18% MER.

 

Gotta pay for the lease on the Lamborghini somehow.

I see from one of Dimensional's fact sheet's of the top 10 holdings, 26% are in the banks. Seems familiar.

 

Gotta get some of @hammer's bitcoin.

 

Ha!

 

Mc hammer...I heard you have made a 6000 time multiple on a 1k bitcoin purchase.

Noice what are you going to do with all the mullah?

 

Jezus..chinese whispers!

T'was a $100 bitcoin purchase. so 60 grand. Enough for a deposit on something or pay off the PPOR.

It has been most helpful but sadly, no Lambos here....

 

congrats better than kick in bum.

lambos are over rated not a functional car....

 

What car do you drive, Sash?

 

a mazda 3...too poor to drive anythin' else...no bentleys...no merc 4wd...nutin'

 

Nothing wrong with a Mazda 3! Fantastic cars.

 

yep it has most of the modern safety features...reliable little budders and great resale

 

Nothing wrong there. Peter Thornhill drives a Camry that is a few years old. It's when you can step out of the Mazda3 knowing that you can choose what you want to do that day, while the Merc drivers need to go to work that day, and the next.... to keep up with repayment costs and .... the Jones.

 

damn nutin gets past you mob

 

Yeah... gotta watch out for the quiet observers....