Advice on what to do with retirement fund?

[Kenny202]

Be receiving my superannuation payment from Australia soon. Not huge money about $250k and I really have no idea what to do with it. I have no clue re stock market...Bit coin sounds too risky to me and banks paying next to nothing interest now even for fixed terms. I looked into setting up like a pension fund through the superannuation company but there can be some possible disadvantages to that, and in any case it doesn't sound like it would be much different to me just leaving the money in the superannuation fund and drawing down as required, not that they have performed well last 5 years. I really don't know what options I have other than drawing it out and leaving it in the bank or leaving it in the super fund, or maybe transferring it to a better performing fund. If transferring not sure if I should do it before my maturity age or can do it after?

 

I would love to learn about stock markets etc but just can't afford to gamble in anyway. I know there are blue chip type companies but even these seem vulnerable. For eg travel / airline / tourist related stocks....who would have seen Covid coming? Any pointers guys?

[soi3eddie]

You are right to be cautious. Others here will likely offer their experiences. Risking a future livelilhood could seriously affect quality of life and sanity. I would seek advice too from the fund and also an Independant Financial Advisor who is recommended to you by someone who can be trusted.  

 

[Robin]

Talk to your bank;  They will have an 'asset management' department that will look after your money.  I did this with my UK bank when I inherited my parents house.  Sold it and out money in the bank.  Since then they have achieved capital gain of about 4% p.a  + dividends.  

They should also be able to tell you how to get income from your money with minimum tax payment.

Cannot speak for OZ tax rules, but I know from experience in UK that there are experts in this field who do a good job.  Nott too sure if any are regular contributors to Thai Visa.

Remember:  "If it sounds too good to be true, it most probably is."

[KannikaP]

33 minutes ago, soi3eddie said:

I would seek advice too from the fund and also an Independant Financial Advisor who is recommended to you by someone who can be trusted.

And how do you find that person. If an IFA was so clever, why would they be advising others what to do with their money for a commission, instead of doing it with their own.

I have been badly hit by one such person in Pattaya.

[soi3eddie]

1 hour ago, KannikaP said:

And how do you find that person. If an IFA was so clever, why would they be advising others what to do with their money for a commission, instead of doing it with their own.

I have been badly hit by one such person in Pattaya.

Sorry to hear that. I would be looking for advice in a highly regulated environment home country (UK in my case) rather than here in Pattaya. A recommendation of a trusted financial advisor with proven track record from a friend, family or colleague. Again, in a regulated environment with protections to minimise risk of bad advice or fraud. I would be wary of advice from banks too as, although generally safe (in UK) they will be sure to maximise profits for themselves and not you. 

 

[ChrisP24]

Be very careful.  The whole financial services industry is built on making money for themselves from your money, while giving you whatever share of profits that they can convince you is fair and reasonable to give you.  No one will take better care of your money than you will, thus it'll be far better for you to educate yourself instead of trusting someone else. 

 

In the meantime if you park the funds in a conservative government bond mutual fund, that might not be a bad choice over the near term.  That said, I have no idea how Australian superannuation works or the pros and cons (or yields or tax consequences) of the decision on whether or not to leave your money in the superannuation fund.  In the U.S., you can generally do better investing on your own vs. letting benefit accumulate in the social security fund.  That is if you are disciplined, particularly from spending down your capital. 

[Kenny202]

1 hour ago, soi3eddie said:

Sorry to hear that. I would be looking for advice in a highly regulated environment home country (UK in my case) rather than here in Pattaya. A recommendation of a trusted financial advisor with proven track record from a friend, family or colleague. Again, in a regulated environment with protections to minimise risk of bad advice or fraud. I would be wary of advice from banks too as, although generally safe (in UK) they will be sure to maximise profits for themselves and not you. 

 

Banks and financial institutions in Australia are not allowed to give advice, particularly on their own products in Australia. Can be annoying sometimes as asking even basic questions about their own fund usually results in you need to seek an independent financial advisor

[KhunLA]

Buy RE, to lease out, near a hospital, as docs are never unemployed.

[Kenny202]

2 minutes ago, KhunLA said:

Buy RE, to lease out, near a hospital, as docs are never unemployed.

How I wish I could buy RE in Thailand. That's what I would be doing, buying small inner city shop houses / town houses that are going cheap and do them up for rent / resale. I can buy RE in my sons name but then my ex (his mum who has never been interested in him / left when he was 3 months old) will want to be his new best friend 

[PoodThaiMaiDai]

Invest in index funds and EFT's.

 

Withdraw an annual percentage (4-10%|?) or let it roll over to allow growth.

 

This sounds like a lot but I earned 26+% last year on my investments.

 

All of it is being rolled over for future growth.

 

I am not familiar with Australia's top brokers but I would research this.

[4MyEgo]

4 hours ago, Kenny202 said:

I would love to learn about stock markets etc but just can't afford to gamble in anyway.

 

Being an Australian Citizen, but now a non-resident of Australia for tax purposes has it's benefits when it comes to not paying tax, i.e. if you invest your money in the stock market, but hey, you MUST be a non-resident, which means your abode is here in Thailand.

 

If you remain an Australian resident for tax purposes, not to be confused with your citizenship, you will continue to pay tax as an Australian resident as everyday Australians do.

 

Once you know which residency status you are then you can move forward.

 

I have been investing in the Australian stock market for the past 4 years on my own, knew nothing about it before that, had my money parked in the bank for the 1st year I got about 3% per annum if memory serves me correct (6 years ago), I had to pay 10% withholding tax on the interest earned though as a non resident, that said, the 2nd year I got a broker and although they charge 1% on purchase of any stock, they also get 1% on the sale of any stock, and you have to be firm if you go down that track because they have their interest as well as yours, but if they don't turn the $'s over, I am sure their boss will be breaking their balls, e.g. $20k worth of stock to buy nets them $200, and $200 on the sale, so you would want to hold the stock and make sure it's earning a dividend, as apart from buying and selling to feed them, that way you will get something for your money invested in hopefully some good stocks.

 

There is non capital gains tax for selling of shares, that is all yours to keep as a non resident, and when picking a company to buy shares in, make sure the dividend (return) is 100% franked, meaning they take the tax out before they pay you on the return so you pay no tax.

 

The stock market is a gamble, even blue chip companies go bust, I have had a couple of companies fold, not much you can do about it, and some others might vote to take another companies offer to buy them when your stock is down, ouch, some others drop like there is no tomorrow, that said, it can be a good way to make money as well if your careful, but you have to follow the market around the globe and there are always a lot of things to take into consideration.

 

As of the beginning of this year I have been buying and selling shares in gold and mining stocks and that has proven to be good for me, in the 9 days this month for example I have made about 114,000 baht which is a great start to the month, you do also get some months which can be c-r-a-p, and has to be expected, last month was around 32,000 baht, but you have to take the good with the bad, I keep a record of every transaction and know what I have invested and what I make per year, pretty much my survival money, in other words whatever it costs me to live here all up, is paid for by the shares I buy and sell, no real capital gain on my money, but hey, I am not complaining, have enough to outlive me, that said, I am not interested in keeping hold of stocks unless the dividend is good, that said, most of my stocks, including banks when purchased through the broker year ago, who I haven't used for years are still down a little to what I paid for them, but they will come good and when they do, I will then sell them and invest my money into something else, in the meantime will continue to collect the dividends every 6 months.

 

From my experience in this volatile environment that it has been over the past 4 years, if your careful you can make money, but as I mentioned, it is gambling. 

 

4 hours ago, Kenny202 said:

I know there are blue chip type companies but even these seem vulnerable.

Yes, some big names have turned to dust or reduced to almost nothing.

 

I believe mining shares are the way to go, copper, gold etc over the next year or so.

 

The above said, I am no expert, also regarding your super, unless you will be 60 when you take it, you will pay tax on anything over $195,000 last I checked, so if your talking preservation age, 57, 58, 59, maybe hold on till you reach 60 because no tax after that, or only take out say $190,000 and the balance when you are 60 so that there is no tax payable.

 

Final note: Any income earned within Australia is taxable at 32c in the $ up to $80,000 if you are a non resident for tax purposes, meaning there is no tax threshold, only Australian residents receive the tax threshold, that said, they also pay capital gains tax whereas as a non resident you don't so it's really a no brainer for me.

 

If you own property in Australia your up the creek because the capital gains tax on your principal place or residence, regardless is your not earning an income from it, will be charged capital gains tax from the very first day you purchased it at the highest tax margin, e.g. 42%, if you are a non resident, so they discourage you to own property in Australia, farking c....s IMO.

 

If you want to know anything else just quote the above and I will come back to you, as this information might be useful for others from Oz as well.

 

Don't forget financial planners also charge, also if your 60 and you are to receive $250k as you mention, based on today's exchange rate, if you just drew down on it from say a wise account on say a monthly budget of 50,000 baht, that would last you for about 10 years with zero risk to your money. I mean you wouldn't be making any money, just drawing down on it on a month to month basis, so something to consider as well, risk vs no risk.

 

Edit: I have made around 8%-12% tax free from investing this way over the years, but as mentioned, some shares are in the red when I went through a broker, so buying and selling is the way I make these returns and they are considered good to me. Sure there are other ways to make money too, but I wouldn't know of them, others can guide you, but remember the higher the returns, the higher the risks I would imagine.

 

Edited February 9, 2022 by 4MyEgo

[Kenny202]

7 minutes ago, 4MyEgo said:

 

Being an Australian Citizen, but now a non-resident of Australia for tax purposes has it's benefits when it comes to not paying tax, i.e. if you invest your money in the stock market, but hey, you MUST be a non-resident, which means your abode is here in Thailand.

 

If you remain an Australian resident for tax purposes, not to be confused with your citizenship, you will continue to pay tax as an Australian resident as everyday Australians do.

 

Once you know which residency status you are then you can move forward.

 

I have been investing in the Australian stock market for the past 4 years on my own, knew nothing about it before that, had my money parked in the bank for the 1st year I got about 3% per annum if memory serves me correct (6 years ago), I had to pay 10% withholding tax on the interest earned though as a non resident, that said, the 2nd year I got a broker and although they charge 1% on purchase of any stock, they also get 1% on the sale of any stock, and you have to be firm if you go down that track because they have their interest as well as yours, but if they don't turn the $'s over, I am sure their boss will be breaking their balls, e.g. $20k worth of stock to buy nets them $200, and $200 on the sale, so you would want to hold the stock and make sure it's earning a dividend, as apart from buying and selling to feed them, that way you will get something for your money invested in hopefully some good stocks.

 

There is non capital gains tax for selling of shares, that is all yours to keep as a non resident, and when picking a company to buy shares in, make sure the dividend (return) is 100% franked, meaning they take the tax out before they pay you on the return so you pay no tax.

 

The stock market is a gamble, even blue chip companies go bust, I have had a couple of companies fold, not much you can do about it, and some others might vote to take another companies offer to buy them when your stock is down, ouch, some others drop like there is no tomorrow, that said, it can be a good way to make money as well if your careful, but you have to follow the market around the globe and there are always a lot of things to take into consideration.

 

As of the beginning of this year I have been buying and selling shares in gold and mining stocks and that has proven to be good for me, in the 9 days this month for example I have made about 114,000 baht which is a great start to the month, you do also get some months which can be c-r-a-p, and has to be expected, last month was around 32,000 baht, but you have to take the good with the bad, I keep a record of every transaction and know what I have invested and what I make per year, pretty much my survival money, in other words whatever it costs me to live here all up, is paid for by the shares I buy and sell, no real capital gain on my money, but hey, I am not complaining, have enough to outlive me, that said, I am not interested in keeping hold of stocks unless the dividend is good, that said, most of my stocks, including banks when purchased through the broker year ago, who I haven't used for years are still down a little to what I paid for them, but they will come good and when they do, I will then sell them and invest my money into something else, in the meantime will continue to collect the dividends every 6 months.

 

From my experience in this volatile environment that it has been over the past 4 years, if your careful you can make money, but as I mentioned, it is gambling. 

 

Yes, some big names have turned to dust or reduced to almost nothing.

 

I believe mining shares are the way to go, copper, gold etc over the next year or so.

 

The above said, I am no expert, also regarding your super, unless you will be 60 when you take it, you will pay tax on anything over $195,000 last I checked, so if your talking preservation age, 57, 58, 59, maybe hold on till you reach 60 because no tax after that, or only take out say $190,000 and the balance when you are 60 so that there is no tax payable.

 

Final note: Any income earned within Australia is taxable at 32c in the $ up to $80,000 if you are a non resident for tax purposes, meaning there is no tax threshold, only Australian residents receive the tax threshold, that said, they also pay capital gains tax whereas as a non resident you don't so it's really a no brainer for me.

 

If you own property in Australia your up the creek because the capital gains tax on your principal place or residence, regardless is your not earning an income from it, will be charged capital gains tax from the very first day you purchased it at the highest tax margin, e.g. 42%, if you are a non resident, so they discourage you to own property in Australia, farking c....s IMO.

 

If you want to know anything else just quote the above and I will come back to you, as this information might be useful for others from Oz as well.

 

Don't forget financial planners also charge, also if your 60 and you are to receive $250k as you mention, based on today's exchange rate, if you just drew down on it from say a wise account on say a monthly budget of 50,000 baht, that would last you for about 10 years with zero risk to your money. I mean you wouldn't be making any money, just drawing down on it on a month to month basis, so something to consider as well, risk vs no risk.

Thanks for all that mate, definitely some good points there. Firstly I am a non resident for tax purposes. No choice in that....been here 7 years never been home and I don't own and real estate in Australia. By the way you can be a resident for tax purposes no matter how long you are out of the country if you own property in Oz. Not even sure you can declare yourself a non res if you have property?

 

Would be interested to know ball park how much you have invested getting those sort of returns, and how in the world do you know what is a good good company to buy stock in and what's not? Particularly minerals. Do you just watch what's happening and jump on a wave? (Ascending) and get off when you see the peak? I mean I could make basic judgements on blue chips like Coca Cola etc but past that I am clueless. So you invest in Australian stocks? Fully franked and there is no tax payable on dividends or gains in stock holding? Feel free to PM me if you wish and thanks again.

[4MyEgo]

1 hour ago, Kenny202 said:

I don't own and real estate in Australia. By the way you can be a resident for tax purposes no matter how long you are out of the country if you own property in Oz.

That is debateable, as it's not so cut and dry, there are certain criteria to establish residency, in other words, abode is the biggest, 2nd is how often you return to Australia and what connects you have to the country, e.g. family etc, a further example would be if I owned a property is Oz and lived here, I would have Buckley's telling them that I am a resident of Australia for tax purposes because I live here, that said, if and when I returned to Australia, I could re-establish my residency for arguments sake after say 6 months and then when I do sell the property apportion the time I was away, e.g. 2000 to 2005, if still permitted, would obtain a property valuation when I left, and again a property valuation when I returned to establish the capital gain, and lets say if it was 1 million when I left and 1.1 million when I returned, then I sold it in 2010, would probably pay basically zero capital gains tax as the years equal out, but one would have to check with a qualified tax accountant, but that is the way they used to do it.

 

1 hour ago, Kenny202 said:

Would be interested to know ball park how much you have invested getting those sort of returns, and how in the world do you know what is a good good company to buy stock in and what's not? Particularly minerals. Do you just watch what's happening and jump on a wave? (Ascending) and get off when you see the peak?

That's a good question, but basically if you look at where Gold has been heading over the past year, down, and the talk of inflation and rising interest rates, then gold shares usually moves upward, but it is risky bet, and if the company is big enough and has enough mines, then you can bet it is a good long term bet.

 

Minerals are always a hot commodity and if you look at graphs over the past year you can see they have been heading upwards, so pick a company that is diversified in minerals, copper, aluminium and so on, but remember, they have to be paying dividends in case they go down in value.

 

I usually like to buy in when the market takes a dip, timing is the hardest thing otherwise, however you can usually gauge what buyers are doing at the open of the market on particular stocks, i.e. if they dip, they might dip further and you buy in and hope they climb the next day, they might jump and you buy and then they climb further, or they might climb and then take a dip, like I said, it's a gamble, but you do sort of get used to it, why just the other day, I purchased a stock in a gold company at the close of the bell for $1.70, it dropped from $1.77 at the open to the close of the bell at $1.70, next day I was going to sell it at $1.75, usually buy in slots of $50k, I decided to hold on to the next day and it paid off when I sold it for $1.80. I bought back in a couple of days later at $1.80, what I sold it for and got out at $1.85, now sitting on the fence, the mining stock I bought in at $4.16 back on the 21st January, my luck it dropped to $3.88 and I resold it at $4.26 of later, then dropped to $4.19 the same day, only to go to $4.43 the following day, so you will get a lot of, you are damned if you do and damned if you don't, but as for holding stock at $50k slices, isn't my way of doing things, I like to get in and get out, I feel safer that way with the money I invest which is around $200K in $50K slots.

 

It just depends what you want to make, for me, I am content with making what it costs me to live here, that said, I have reserves as mentioned to keep me going till I drop, however I do not touch that, it doesn't earn any interest where it is, but it's safe so I am content with that. 

[Kenny202]

30 minutes ago, 4MyEgo said:

That is debateable, as it's not so cut and dry, there are certain criteria to establish residency, in other words, abode is the biggest, 2nd is how often you return to Australia and what connects you have to the country, e.g. family etc, a further example would be if I owned a property is Oz and lived here, I would have Buckley's telling them that I am a resident of Australia for tax purposes because I live here, that said, if and when I returned to Australia, I could re-establish my residency for arguments sake after say 6 months and then when I do sell the property apportion the time I was away, e.g. 2000 to 2005, if still permitted, would obtain a property valuation when I left, and again a property valuation when I returned to establish the capital gain, and lets say if it was 1 million when I left and 1.1 million when I returned, then I sold it in 2010, would probably pay basically zero capital gains tax as the years equal out, but one would have to check with a qualified tax accountant, but that is the way they used to do it.

 

That's a good question, but basically if you look at where Gold has been heading over the past year, down, and the talk of inflation and rising interest rates, then gold shares usually moves upward, but it is risky bet, and if the company is big enough and has enough mines, then you can bet it is a good long term bet.

 

Minerals are always a hot commodity and if you look at graphs over the past year you can see they have been heading upwards, so pick a company that is diversified in minerals, copper, aluminium and so on, but remember, they have to be paying dividends in case they go down in value.

 

I usually like to buy in when the market takes a dip, timing is the hardest thing otherwise, however you can usually gauge what buyers are doing at the open of the market on particular stocks, i.e. if they dip, they might dip further and you buy in and hope they climb the next day, they might jump and you buy and then they climb further, or they might climb and then take a dip, like I said, it's a gamble, but you do sort of get used to it, why just the other day, I purchased a stock in a gold company at the close of the bell for $1.70, it dropped from $1.77 at the open to the close of the bell at $1.70, next day I was going to sell it at $1.75, usually buy in slots of $50k, I decided to hold on to the next day and it paid off when I sold it for $1.80. I bought back in a couple of days later at $1.80, what I sold it for and got out at $1.85, now sitting on the fence, the mining stock I bought in at $4.16 back on the 21st January, my luck it dropped to $3.88 and I resold it at $4.26 of later, then dropped to $4.19 the same day, only to go to $4.43 the following day, so you will get a lot of, you are damned if you do and damned if you don't, but as for holding stock at $50k slices, isn't my way of doing things, I like to get in and get out, I feel safer that way with the money I invest which is around $200K in $50K slots.

 

It just depends what you want to make, for me, I am content with making what it costs me to live here, that said, I have reserves as mentioned to keep me going till I drop, however I do not touch that, it doesn't earn any interest where it is, but it's safe so I am content with that. 

Yeah I guess that's the big question for me. I would be happy to make enough just to live on here for sure, but I don't really have the reserve of money to gamble with, not recklessly gamble anyway with no knowledge of what I'm doing, and can't afford to learn by my mistakes.

 

One thing I have never understood re stock market is you can buy anytime of course, but say a stock starts going downhill. So I decide I want to sell. Is there always a guaranteed buyer? Or do you sell your shares back to the company or? Always hear people talking about get in get out, sell at a particular time. Obviously you may have to take a hit on what you paid if things are going south but is there ever a time when you can't sell?

[4MyEgo]

28 minutes ago, Kenny202 said:

Yeah I guess that's the big question for me. I would be happy to make enough just to live on here for sure, but I don't really have the reserve of money to gamble with, not recklessly gamble anyway with no knowledge of what I'm doing, and can't afford to learn by my mistakes.

Then perhaps you take a look at just parking it in the bank and drawing down on it as you need it, not a brilliant idea, but if you have 10 years worth to draw down on, that's more than most have on a pension.

 

29 minutes ago, Kenny202 said:

One thing I have never understood re stock market is you can buy anytime of course, but say a stock starts going downhill. So I decide I want to sell. Is there always a guaranteed buyer? Or do you sell your shares back to the company or? Always hear people talking about get in get out, sell at a particular time. Obviously you may have to take a hit on what you paid if things are going south but is there ever a time when you can't sell?

You don't sell unless you really have to, e.g. I sold some bank shares for a couple of hundred dollars less than what I paid for them, that said, the dividends over the years paid by those banks, made up for it, and then I reinvested those tens of thousands of dollars into gold and mining shares, but anything that is down, you hold until it reaches what you paid for it or close enough. 

 

Shares will always sell, i.e. there are always buyers.

 

Before you do decide to do something, do your due diligence and research.

[Kenny202]

31 minutes ago, 4MyEgo said:

Then perhaps you take a look at just parking it in the bank and drawing down on it as you need it, not a brilliant idea, but if you have 10 years worth to draw down on, that's more than most have on a pension.

 

You don't sell unless you really have to, e.g. I sold some bank shares for a couple of hundred dollars less than what I paid for them, that said, the dividends over the years paid by those banks, made up for it, and then I reinvested those tens of thousands of dollars into gold and mining shares, but anything that is down, you hold until it reaches what you paid for it or close enough. 

 

Shares will always sell, i.e. there are always buyers.

 

Before you do decide to do something, do your due diligence and research.

Of course, understand. Do all shares pay dividends? I believe some don't? Dividends sound the way to go so you are getting a return and a (hopefully) growing investment too. Do you find you make most money on dividends or profit from selling? (You are the  first step of my due diligence lol)

 

What about sharebrokers?  Are they there simply to transact for you or do you give them your funds to invest how they see fit or either or? Why I always balk a bit at shares. I have had my money in a Super account for years, and returns have never been great last 20 years. At best saw a 12% return for a year. Obviously I am in a pretty safe fund but I always think to myself if these guys can't make more than a few percent, what chance do I have?

[Don Chance]

Simply answer is invest in broad index fund such as the SPY or VOO. Also dividend paying stocks such as REIT, banks or insurance companies.  A dividend of 5%-8% could easily fund your retirement.

[Kenny202]

9 minutes ago, Don Chance said:

Simply answer is invest in broad index fund such as the SPY or VOO. Also dividend paying stocks such as REIT, banks or insurance companies.  A dividend of 5%-8% could easily fund your retirement.

See I don't even know what that means lol. When you say a fund do I get someone to do that on my behalf? When you say a fund you mean someone invests on my behalf in these type of stocks? Or am I missing something?

 

I guess that's what the Super fund companies have are different groups of funds depending on what level of safety you want. I my funds now are invested in very safe areas like property and currency

[saakura]

5 hours ago, Kenny202 said:

How I wish I could buy RE in Thailand. That's what I would be doing, buying small inner city shop houses / town houses that are going cheap and do them up for rent / resale. I can buy RE in my sons name but then my ex (his mum who has never been interested in him / left when he was 3 months old) will want to be his new best friend 

Bars are also selling very very cheap now, if you have the appetite to buy now and wait patiently for a couple of years.

[4MyEgo]

39 minutes ago, Kenny202 said:

Of course, understand. Do all shares pay dividends? I believe some don't? Dividends sound the way to go so you are getting a return and a (hopefully) growing investment too. Do you find you make most money on dividends or profit from selling? (You are the  first step of my due diligence lol)

 

What about sharebrokers?  Are they there simply to transact for you or do you give them your funds to invest how they see fit or either or? Why I always balk a bit at shares. I have had my money in a Super account for years, and returns have never been great last 20 years. At best saw a 12% return for a year. Obviously I am in a pretty safe fund but I always think to myself if these guys can't make more than a few percent, what chance do I have?

Most shares pay dividends, some pay part dividends, others pay nothing, so you have to shop around to find the return your looking for, that said, a few stopped paying dividends during the pandemic, others cut them in half....lol

 

Generally speaking stock brokers can invest on your behalf through a fund, or guide you, i.e. tell you what stocks to buy and make their commission along the way, I could never allow someone to take my money and invest it, it's just me, as for my superannuation account, I didn't have a choice.

 

On the topic of super, most people when signing up choice the risk they want, low, medium or high and then it is invested accordingly, most never change what they signed up for and that is why they ended up with the return, if any, that they did. Those guys you are referring to could probably have made a few more bucks for you, but if you left it how you had it, their hands would be tied, that said, if you changed it you could have lost money, or made money, all about risk.

[Kenny202]

1 hour ago, saakura said:

Bars are also selling very very cheap now, if you have the appetite to buy now and wait patiently for a couple of years.

I don't know much about investments, but do know something of business, and lived here long enough to know a bar in Thailand is a mugs game lol

[Kenny202]

1 hour ago, 4MyEgo said:

Most shares pay dividends, some pay part dividends, others pay nothing, so you have to shop around to find the return your looking for, that said, a few stopped paying dividends during the pandemic, others cut them in half....lol

 

Generally speaking stock brokers can invest on your behalf through a fund, or guide you, i.e. tell you what stocks to buy and make their commission along the way, I could never allow someone to take my money and invest it, it's just me, as for my superannuation account, I didn't have a choice.

 

On the topic of super, most people when signing up choice the risk they want, low, medium or high and then it is invested accordingly, most never change what they signed up for and that is why they ended up with the return, if any, that they did. Those guys you are referring to could probably have made a few more bucks for you, but if you left it how you had it, their hands would be tied, that said, if you changed it you could have lost money, or made money, all about risk.

Appreciate all the help brother, very kind of you to go to so much trouble. And I hear you re selecting your risk, but still doesn't let them off the hook. They have consistently performed extremely poorly in all funds, they're not even in the top 20 I believe. And stupid me should have done something years ago. In the short term thinking of moving my super into Australia Super if it can be done reasonably easy with me not in country.  

[BritManToo]

10 hours ago, soi3eddie said:

You are right to be cautious. Others here will likely offer their experiences. Risking a future livelilhood could seriously affect quality of life and sanity. I would seek advice too from the fund and also an Independant Financial Advisor who is recommended to you by someone who can be trusted.  

 

Every IFA I ever used stole from my fund.

They me sold items that paid them big commissions, they churned my portfolio, they even bought Mutual funds that had already gone bankrupt. Good luck finding an honest one, I never managed it.

[Kenny202]

1 minute ago, BritManToo said:

Every IFA I ever used stole from my fund.

They me sold items that paid them big commissions, they churned my portfolio, they even bought Mutual funds that had already gone bankrupt. Good luck finding an honest one, I never managed it.

What would you suggest old mate? After your advice on the tea and sourcing various items you are my go to guru ????

 

[BritManToo]

Just now, Kenny202 said:

What would you suggest old mate? After your advice on the tea and sourcing various items you are my go to guru ????

 

Any spare money I have stays in my UK bank earning nothing.

Which is a lot better than the 100% loss I made from one 'Blue chip' UK defense company.

And the 30,000 pound loss from my IFA buying worthless mutual funds in a bankrupt company.

One of my pal's lost most of his pension money investing in bank stocks.

Better to lose your money on the horses, at least that gives you a good day out.

 

I'd suggest you leave your super alone, and just take drawdown when and if you need it.

Which is where mine stayed after all the losses from Pension advisors and IFAs.

 

 

[4MyEgo]

15 minutes ago, Kenny202 said:

Appreciate all the help brother, very kind of you to go to so much trouble. And I hear you re selecting your risk, but still doesn't let them off the hook. They have consistently performed extremely poorly in all funds, they're not even in the top 20 I believe. And stupid me should have done something years ago. In the short term thinking of moving my super into Australia Super if it can be done reasonably easy with me not in country.  

Anytime, only thing to watch out for are roll over fees if any, that and if you would be paying tax on money earned within Australia, remember as a non-resident any income made within Australia is taxed at 32c in the $ up to $80,000 with no threshold, then it goes up from there to the next bracket.

[Kenny202]

1 minute ago, 4MyEgo said:

Anytime, only thing to watch out for are roll over fees if any, that and if you would be paying tax on money earned within Australia, remember as a non-resident any income made within Australia is taxed at 32c in the $ up to $80,000 with no threshold, then it goes up from there to the next bracket.

I thought it was even worse than that to be honest. I thought up near 40? Maybe they told me up to 42% (higher bracket). I was told provided you leave your original super in your fund, and draw down on it interest or growth on the balance you leave in there will be non taxable, same as when you draw it out. If you draw it out and invest in something else it is taxable for sure. Why I thought I may be better off rolling it over now before I am 60. 

[4MyEgo]

2 minutes ago, Kenny202 said:

I thought it was even worse than that to be honest. I thought up near 40? Maybe they told me up to 42% (higher bracket). I was told provided you leave your original super in your fund, and draw down on it interest or growth on the balance you leave in there will be non taxable, same as when you draw it out. If you draw it out and invest in something else it is taxable for sure. Why I thought I may be better off rolling it over now before I am 60. 

Things might have changed, but I know if your earning an income in Oz, 32c in the $ was the tax payable as a non resident.

 

Personally if I were you, and didn't need it, I would leave it in there till you turn 60 because after that there is no tax payable when you take it out, as mentioned beforehand, if your at preservation age, depending on your birthdate, 57, 58, 59, you could take up to $195,000 out tax free, the balance you would pay tax on, or leave it there till your 60 and then take it out tax free.

 

I know of a bloke from Oz who lives here ad he rolled his super over and gets an income stream from his super which I think he rolled into a pension fund, not sure how that works, but might be something you'd be interested in, similar to super, but they pay you a monthly sum every month and invest your money.

[Kenny202]

8 minutes ago, 4MyEgo said:

Things might have changed, but I know if your earning an income in Oz, 32c in the $ was the tax payable as a non resident.

 

Personally if I were you, and didn't need it, I would leave it in there till you turn 60 because after that there is no tax payable when you take it out, as mentioned beforehand, if your at preservation age, depending on your birthdate, 57, 58, 59, you could take up to $195,000 out tax free, the balance you would pay tax on, or leave it there till your 60 and then take it out tax free.

 

I know of a bloke from Oz who lives here ad he rolled his super over and gets an income stream from his super which I think he rolled into a pension fund, not sure how that works, but might be something you'd be interested in, similar to super, but they pay you a monthly sum every month and invest your money.

Yeah I wont be taking it out until after 60 but like you said I could take out up to 200k now tax free if I wanted. I did quickly discuss a pension fund and couldn't really see the difference between setting up a pension fund and just leaving it in their growing and withdrawing it as required. He kind of agreed with me and said it just saves going through the withdrawal process when u want money everytime. In fact he said if I did go the pension fund route I really need to talk to an IFA as there can be negative tax / state pension issues if not done correctly

[ChrisP24]

7 hours ago, PoodThaiMaiDai said:

Invest in index funds and EFT's.

 

Withdraw an annual percentage (4-10%|?) or let it roll over to allow growth.

 

This sounds like a lot but I earned 26+% last year on my investments.

 

All of it is being rolled over for future growth.

 

I am not familiar with Australia's top brokers but I would research this.

I agree that this is excellent advice, however a new self-investor has got to be mentally prepared for the inevitable downturns, with a strategy in place to either ride it out, have cash-equivalent reserves to draw instead of cashing out at market lows, and be able to do some prudent (not kneejerk) rebalancing from time to time.