Yes it's open day at McDuck's secret location ......

[Unicorn]

http://www.news.com.au/finance/money/heres-your-chance-to-handle-1-million-in-cold-hard-cash/story-e6frfmcr-1227576358369

[Fulvio]

Damn! Busted!

[autocoupler]

Interesting concept uni of how to encourage young people to save for their future. What they really need is a constant barrage of dour input from a parent who lived through the great depression  :shock: which was all the encouragement I needed to prepare for doomsday.

Having a government job in NSW I was lucky enough to be able to contribute into superannuation from the early seventies, and with my Dad's recounting of tougher times in my ear, we invested a disproportionate percentage of our single income in super. The irony was that in our determination to prepare for the future, with a growing family we often put ourselves under financial stress in order to man the barricades against a perceived threat of future destitution. There were times through the 80's, 90's and 00's when my Dad's prophecy of the past repeating itself looked as it may play out, but we're all still here ploughing on.  

I often wonder if it may have been better to pay off the mortgage quicker, as well as spoil the kids a bit more than we did, but I don't think so.

One thing that makes me sick to the back teeth :@ is the bleatings of younger generations of how good the so called baby boomers have had it. The way I see it,  we raised our kids and provided for our own future, and through our taxes we  helped pay for the pensions, health and comfort of our Parents/older generations, as well as systems now in place that provide safety nets for newer generations. Now it's time for those younger generations to stop whining and do the same.

Sorry uni :dash1: my free falling spiral should not take away the fun and happy intent of your post. I now need a lay down.:kez_11:

[Fulvio]

I often wonder if it may have been better to pay off the mortgage quicker

Absolutely.

Retiring non-deductible debt is the single most effective use for money that's legal, moral and risk-free.

Look at it as a tax-free gift, because that's what it effectively is. And super doesn't come close.

[Goldseeker]

I attended two resettlement seminars just before I got out of the ARMY and suoperannuation and annuities would have been the two most popular lectures we sat through.

One was promised doubling ones rollover in about five to seven years.

Whereas in reality, 25 years later, the only money I got back was all the money I put in.

I have just done a table of $10K invested for 3,4,5,6 and 7 percent and compounding the interest.   The 74 rule comes into effect BUT the 74 rule does not allow one declaring the interest for taxation assessment so in fact the 74 rule is way out of wack.

I pulled out a bit over $321K and when I look back, that is approx. the amount is had put in out of my own pocket.

With interest rates so low at the present, it takes more than five or seven years to double ones investment.

Have a look at the Australian Stack Market, a couple of months ago it was supposed to break the 6000 point barrier then came the 1100 point fall and it just now a little over 5200 or around that level.

The only way to make money is to plant it in your backyard and watch the tree grow.  

Current interest rates are not even keeping up with inflation.

I am a total pensioner and the rises I get on my pension(s) are far far behind the actual inflation rate.   But don't forget, the pension rises one gets if given three to six months behind the time.   For example, a COL rise given as of 01 Jul is for the COV rise for the perion ending March 31.   So pensioners are behind regardless.

I know I have rambled a wee bit but please don't come or reply with ideas of how I can make money because I don't have any to invest.

Getting back on track, it is the first I have heard about the $1m bathe and only being a lucky tatts player will give me that sort of return.

[Fulvio]

The only way to make money is to plant it in your backyard and watch the tree grow.  

That depends...

Basically, there are two ways to use money.

You can use it for something that produces an income, or you can use it for something that doesn't. This is a basic fact that the overwhelming majority never ever grasp. Which is why they die penniless, while the few who get it own most of the world.

As long as the great unwashed stick to watching the footy, lying on a beach and sinking tinnies, this is not a big problem. They're just sheep to be shorn, then the fleece grows back and round and round we go. Its been like that for most of history.

The trouble starts when some smartie decides everybody can be a slumlord, developer, shareholder, investor, businessman.

Because the average pleb doesn't understand these things, and ends up trusting someone to do it for them. Someone who almost invariably not only fleeces them, but often sends them off to the abattoir as well. And the people who are supposed to keep these guys in check totally fail to do so.

Which is not to say that its impossible to make money. Quite the contrary. Money is remarkably easy to make, as long as you recognise opportunities, and sieze them. But often we're too scared, or too lazy, too busy, or whatever, and the opportunities pass us by.

I was about to buy Apple shares, back when they were universally known as 'beleaguered Apple' and everyone was predicting their demise. The share price was down to $12, and we got a group together to show some support. I had three grand to spare, and I was wading through an inch-thick pile of IRS crap to make it happen when the fiscal geniuses in Canberra flogged off Telstra. That was so much easier, and I bought in instead. That was a $4 million mistake. One of many I've made, but probably the worst by a fair margin. And yes, I am aware I'm well in the black with Telstra... just not in the same league though.

[autocoupler]

With interest rates so low at the present, it takes more than five or seven years to double ones investment.

Four or five years ago just as we were emerging from the grasp of the GFC, without having any knowledge of what I was thinking about apart from a gut feel, I reckoned if you can't beat em join em and was looking at the Banks, CBA in particular, as a possible way of improving my superannuation performance without getting too risky.

At the time their share price was approx. half what it was in better times at about $36 if my memory serves me correct, but their dividends were running at around 7.5 percent fully franked, and my fund back then allowed me to invest a fairly large portion of my super in that direction.

To cut a long story short, apart from a gut feel I had very little knowledge of how it all really worked. This meant no confidence, and consequently no action.

Moving forward to today, the CBA share price is about doubled, and just as importantly the compounding of dividends for four or five years would have seen the investment grow by about 150 percent. :dash1:

[Fulvio]

was looking at the Banks, CBA in particular

Yeah, NAB and WBC are among the better performers in my portfolio. Especially after topping up at the lows.

It would have been nice to pick up CBA at $5 when it floated, but I wasn't a customer back then, and wasn't paying attention anyway/

BTW, just in case anyone wants a hot tip, have a look at the Bitcoin Group. ASX:BCG. The float closes on the 30th. I'm already in for 2k, and will be adding another similar amount, plus some more for friends who don't want a full allocation. Given the rise in BTC prices this past week or so, and some evidence that its structural, their income projections of $37 million should be over $40 million already, and rising. There's an online bookbuild process, which I can supply a referral code for, but TBH I just went in to the office and did it direct. Probably missed out on $20-30 in bonuses that way, but meh.