Super fund change needs financial planner ?

In your example $80k could be in the direct shares option where you select your own.

I believe it is a max of 20% TOTAL balance in any one listing - so $20k would be the max per stock

The remaining 20% balance can be placed into any of ING super's managed options.

There is the balanced (also called smart) option with no fees which is 50% cash accruing interest and 50% in "pre selected" shares - I am unsure of what they are as it is not listed other than 30% aussie, 10% international and 10% international hedged.

There are also "select" options which have a fees of 0.5% (capped at $1000) + 0.25% some of these options are 100% shares.

Therefore you can be 100% shares, you just pay some fees. I haven't done any calculations to see if I am better having 90% shares and 10% cash or 100% shares with some fees.

The "cash hub" is just the main holding account, it has an interest rate of the RBA rate minus 0.75%.

 

Thanks Hodor

Makes sense

Cheers,
Oracle.

 

Interesting reading the replies, thanks. Superannuation sure has changed a lot in the last 15 years, I have found a good flexible fund open for non-residents and am transferring my super into it (unfortunately the ING fund not available for non-res). The original fund (which I have been in 25 years) was very old style with fees approaching 2%, and little advice except for a planner who wanted over 1K to switch then ongoing advice fees... no thanks. Should have done it years ago.

 

Love it @Hodor. I'm doing my research and considering doing the same as I can't justify the fees my current super fund charges.

 

That's what inspecie or asset transfer is, where you transfer everything from super to pension without selling down your managed funds or shares so it doesnt trigger CGT event. Good idea to speak to an adviser or accountant to make sure it's the right thing to do or the best way of doing it.

 

Agree it is a good idea to get advice, there is more to it than meets the eye. Cheapest option does not always mean best And not all advisers charge a trail on your asset