Never watch the show, but flicking last night to see that mortgage stressed out families calling for access to super funds to pay for mortgage! This happed in US a few years ago just prior to crash. Seems that as more and more stress happens here, there will be a cry for it. Fortunately I moved all my super to SMSF this year and have it in bullion in secure storage. I don't think the large funds will allow it without a fight. Another problem is that it will inflate the market more as people pay off the mortgage with their super and then a few months later decide to upgrade to a better home, or use equity in their homes to buy investment properties. Perhaps if it happens it will delay the inevitable longer..... Interesting times!
Wow. The only reason you should even consider that is if you're close to retirement and paying off your mortgage and you'd save more money in interest payments than you'd make keeping the funds in your super. If you'd come out in front by paying off the last few years of the mortgage early, then yeah, tapping your super would make sense, but for anyone with a long way to go on their mortgage it could be seriously dangerous.
I have read through my old funds regulations and they will only allow acess to the money if the bank is about to throw you out and you only get acesss to $10k at a time.
I think it's a great idea, only because by the time most Australian reach retirement age the Super funds will have been cleaned out by the failing stock market and the government giving the money to banksters to bail them out. Let people have their money now.
Yep, it was gonna get raided eventually anyway. Not that I think the sheeple would spend it any better >_> When I go to parties, sometimes some "light" is shown. Last time someone was talking about debt and living expenses and even threw in the "mobile phones can potentially cause cancer" statement. I thought "hmm, let's see what we've got here". Anyway, after the "shock horror" faded from the conversation, they all pull out their iPhones from their pockets and use their overpriced "price per gig" to start adding people to FaceCrook and making posts when they are right infront of each other. Or the fat couple who have a 36-pack of Pepsi Max in the fridge, are in debt and tell me they are working on improving their lifestyle. Next day they're eating a tub of ice cream complaining about the price of groceries when I already told them the day before:"you know, if you really want to lose weight you might want to give up on the beer and softdrinks". In short, I have no faith in humanity.
I know what you're talking about cobber. On monday night, Bear Grylls bit the head off a live trout, squeezed it's guts out like a tube of toothpaste and ate it raw......and he's the healthiest guy on TV...and a millionaire!
Brace yourself for sarcasm. Pffft I haz unlimited FaceBook and Twitter ! It's free!!!!! *(on a $99 a month plan) But but but that Pepsi's like SUGAR FREE! And it's much healthier than drinking water with the evil evil flouridation by our government, it's bad man! Give up beer? That's like a necessity of civilization itself! If we gave up our beer and Pepsi how would our lifestyle get any better? It'd be worse! Tis true!
One day, the movie script for Idiocracy will prove to be a historical record of humanity's de-evolution.
+1 to all that Oz. I don't believe that the general population has the financial understanding to manage their finances and plan for the future and avoid the consumer temptations. If they did then it would make sense for people to be able to save for their future themselves as Singapore does/did. Re Facebook, i read or heard something the other day of someone txting via facebook that they were having a great time in the VIP room of some club. Unbeknown to her, facebook indicated to her friends that she was actually in the vicinity of her home not at the club... priceless!
You guys just don't understand how it works. It's simple, if I get access to my super, I can have my 'cake' now! Where's the problem? Step 1) Acquire underpants Step 2) ? Step 3) Profit !
I don't think its a good idea. Most people don't understand super, don't care about super and don't want to understand it. And having dealt with some of the ridiculous paperwork that some companies use, I feel their frustration. I'm just dealing with one retarded bunch now who require me to add a direct debit instruction before they will allow me to change my investment allocation online! WTF? And another bunch that will change your allocation, but only on the 1st of the month. I've asked all of them whether they have any PM funds. Not one of them does.
Just something about Facebook....I don't use it for personal contacts, but I found that to get certain information about some businesses or community groups I had to access the site because this is where the info is posted. After a bit of a learning curve I have since found that it has it has some useful applications. And you don't have to be a member to access much of this info. During the QLD floods I was trying to find out some info about a particular area. My search came up with a FB page, which led to another and so on.....where people where placing contact details for who they had seen go where and that so and so was safe in their home, this street was under water, but that one was not etc... then it was a place for volunteer coordination and to help save animals.... In fact the use of FB during the floods will probably go down as an example as how social media can work to great advantage in a crisis. Anyway, from an observers point of view I did change my mind about a few things simply because I was forced into looking at the whole thing further. In many ways it can act much like a forum like this for certain groups. Eg: GP could add, if not already, discussion threads to his page etc..
