Corona virus and superannuation funds in Oz

[sexyman]

Has anyone  in Australia checked their super fund lately? I just checked mine and found that with all the volatility on the financial markets that has come with the Corona virus, about $40,000 AUD has evaporated from my once healthy balance of $365,000. And with more volatily to come, at this rate super funds will be hit really hard as global stock markets crash making our investments dwindle, it seems now that cash is king.

[CharlieH]

Nothing to do with Thailand, MOVED to appropriate forum

[Why Me]

I don't know about Oz but I've lost a ton the past few days in the equity fund I'm invested in in the US. But I've seen this before - 2001 and 2008 recessions and periodic corrections. And every one has recovered and then some. 

 

To my mind now is absolutely the worst time to sell. What you do then is lock in your losses. Hang in and don't keep checking your balance every day or you'll just be miserable for no good cause. Stocks are best play for the long run.

Edited March 6, 2020 by Why Me

[UKresonant]

Same in the UK, not worried about the capital value in the short term, provided they don't stop paying dividends...at least the small amount of Gilts in the portfolio are compensating slightly. 

Anyone that relies on monthly disposals, without a big cash buffer will find it uncomfortable for the next 6 months or so...

[mfd101]

Superannuation is for the long term. Don't draw on your stocks while they're low. That's pretty basic.

[OffshoreMig]

What do you expect.  I pulled my money out of super years ago.  I would have done better in a managed investment fund.  The only one to benefit was the super fund managers.

[Cheesekraft]

it is just getting started, we are in for a hell of a ride with no end in sight

[MikeN]

On 3/7/2020 at 7:06 PM, Cheesekraft said:

it is just getting started, we are in for a hell of a ride with no end in sight

Looked at my Oz share portfolio this morning about an hour after market open.....down $20,000.

Looked again after the market closed .....up $5900

Definitely going to be a rollercoaster ride for a while.

[mfd101]

Everyone should be preparing their dollars to start buying when the moment comes ... In these circumstances the usual pattern is that most people (the Little People, like me) join the herd, first selling at the wrong time, then buying at the wrong time. And they wonder why they never become rich.

 

Meantime the already filthy buy & sell in countermovements and become even filthier ...