silver lining

Discussion in 'Welcome New Members' started by Alchemist, Dec 16, 2010.

  1. Alchemist

    Alchemist New Member

    Joined:
    Dec 16, 2010
    Messages:
    22
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    South Oz
    Hey, how's it going?

    I'm liking what I read here. I've been looking at all the world economic news and wondering what's with all the quantitive easing, bank bailouts and meltdowns?
    Ever since my super got king hit a few years back, I've been paying a bit more attention to the details.

    I've just set up a SMSF and once I get the roll overs completed, will get a significant proportion as silver and also gold. Get some solid value instead of this imaginary stuff.

    I'm looking for the silver lining.
     
  2. Terry88

    Terry88 Member

    Joined:
    Dec 11, 2010
    Messages:
    119
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Australia
    Welcome. I'm in the same boat too. SMSF + Silver = Peace of Mind
     
  3. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

    Joined:
    Feb 25, 2010
    Messages:
    5,290
    Likes Received:
    6
    Trophy Points:
    38
    Location:
    Hunter Valley, NSW
    Welcome What no Gravy.
    Are you related to What? Me Worry?

    With SMSF, do you have to close your existing account? or can work continue to deposit the money into it?
     
  4. Guest

    Guest Guest

    Welcome aboard mate.

    I like Gravy.

    I also like pie.

    I especially like a pie with gravy.

    [​IMG]

    Nom nom nom nom...
     
  5. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

    Joined:
    Feb 25, 2010
    Messages:
    5,290
    Likes Received:
    6
    Trophy Points:
    38
    Location:
    Hunter Valley, NSW
    Ohhh Aus, those carrots look a little overcooked and soggy but geez that looks great. I'm hungry now.
     
  6. Slam

    Slam Active Member Silver Stacker

    Joined:
    Sep 27, 2010
    Messages:
    1,289
    Likes Received:
    17
    Trophy Points:
    38
    Location:
    Au
    Welcome to the board, smart move with the SMSF.

    I am in the same boat but at the end stage, getting my moolah rolled over from the current crappy funds.

    Slam
     
  7. Alchemist

    Alchemist New Member

    Joined:
    Dec 16, 2010
    Messages:
    22
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    South Oz
    A few months ago I made my first purchase - 3 Oz Gold and 4 Kg silver. I then started to think how I can get more, and realised my super is largely being invested in shares and cash etc.
    Not liking that idea much, I remembered hearing about SMSF's and began exploring how I could take control of how that money is invested.

    Between my wife and I we had 4 super funds from different employers over the years, and had not rolled them together.

    I did a bit of research and proceeded as follows:

    We just opened a SMSF through e-superfund, and part of that process is to open a special account with ANZ, and a COMSEC trading account. The ANZ account is a specific 'approved' account supposedly. Not sure if you can just open one up - I doubt it. Needs to be specifically for SMSF to comply with whatever legislation I presume.

    It was a bit scary - I didn't do it through an accountant or broker, but it has all gone through smoothly!

    We have now sent the forms requesting each fund disburse all proceeds into our SMSF and close them. I suppose you could request a partial transfer and keep the others open if you wanted to.
    The rollover forms certainly allow for that. Your employer might grumble at having to split your super payment but that's not your problem.

    So we now have two members of our own fund, and we give our employers a letter of compliance and the ANZ account details so now the super payments go straight into the SMSF account.

    With a SMSF, you can form a company, or you can just do a personal fund. My understanding is the company option is a bit more expensive, but I like that it provides a degree of protection as it's separate entity to your other finances if for example you go bankrupt.

    There will be an annual fee, but the online agent seems cheaper than other options.

    So once we receive the funds, we can invest them however we like - according to our 'investment strategy' of course.
    And I can bring in my kids as members when they are older too.

    I have applied for an SMSF account with the Sydney bullion merchant I made my first purchase from. I think I'll store the super fund stuff in their storage. Haven't thought that completely through.
    Any ideas here? I'll have a search through previous posts too.


    Regarding the gravy, it was from one of my favourite cartoons. Do a web search for chowhound, or what no gravy. I don't know how to insert an image here, but it was about dog who made a cat get meat for him. But he always got angry if there was no gravy. Hence "What? No Gravy?"

    But at the end, the cat gets a funnel and a big bottle of gravy, and with the line "This time, we didn't forget the gravy!" pours in into the dog's mouth.

    I guess I like the idea of the victim taking control, and wreaking some kind of just revenge.

    but me, I just want some assurance that what little wealth I have will have substance and value into the future.

    Gold and silver seem to be the best way forward.

    -Gravy
     
  8. alexisio

    alexisio New Member Silver Stacker

    Joined:
    Nov 13, 2009
    Messages:
    2,940
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    (Wide Bay) Fraser Coast Qld
    Great story thoroughly enjoyed reading the titbit to
     
  9. Welcome_Stranger

    Welcome_Stranger New Member

    Joined:
    Dec 16, 2010
    Messages:
    120
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    Hi What? No Gravy?

    This is my first Welcome ( I joined yesterday) so WELCOME ABOARD!!!

    I too have looked in to SMSF's with e-superfund and I reckon its the best way to go. Well done for taking the step - its so good to see people actually taking control of the wealth rather than sitting on the sidelines as so many do. From what I have read so far, I think this forum is full of 'action' people which is really encouraging for me - and helps me by challenging how much stacking I have to do...

    I saw a post where someone said they have 1600 oz's - - - - thats awesome! I want to catch up to that stacker...

    Not that I am en expert, but I reckon its a good idea to GET PHYSICAL! ie physically own your stack rather that have it tied up in a vault somewhere - I am sure others would agree with this as it offers a (small) degree of protection!!!

    -WS
     
  10. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,682
    Likes Received:
    3,191
    Trophy Points:
    113
    Location:
    Australia
    Can anyone point me to a comprehensive explanation and how-to on SMSFs please.

    I assume you can do it yourself?

    thanks
     
  11. Forge

    Forge Member

    Joined:
    Jul 6, 2010
    Messages:
    891
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Launceston, TAS
    There is a pretty solid thread on SMSF's.

    The ESUPERFUND website is also a good place to look things up.
     
  12. Slam

    Slam Active Member Silver Stacker

    Joined:
    Sep 27, 2010
    Messages:
    1,289
    Likes Received:
    17
    Trophy Points:
    38
    Location:
    Au
    +1 for Esuperfund.

    Took me around 4 weeks to set it up, quick turn around.

    Slam
     

Share This Page