tag:blogger.com,1999:blog-9716997.post5593256357900573249..comments2024-03-15T23:30:38.471+11:00Comments on Lindsay's Lobes: Unfinished Superannuation BusinessLindsay Byrneshttp://www.blogger.com/profile/11030132436987752741noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-9716997.post-87930876585577501912008-09-03T18:23:00.000+10:002008-09-03T18:23:00.000+10:00Hi Michael & Sera & Zee Michael-Thanks f...Hi Michael & Sera & Zee <BR/><BR/>Michael-Thanks for your visit and comment <BR/><BR/>Sera <BR/><BR/>I am not sure of the limits on your 401K plans over there but I think you will find your able to deduct any contributions you make from your gross salary (reducing your overall tax rate and tax payment) rather than paying for it out of your net after tax salary as you have implied. Contributions into such a fund would also enjoy tax free status in terms of the earnings whilst in the fund. <BR/><BR/>Have you noticed Oils now down to $108.28, <BR/><BR/>Best wisheslindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-6073007399701972372008-09-03T13:51:00.000+10:002008-09-03T13:51:00.000+10:00you sound like a pessimistic fashion designer toda...you sound like a pessimistic fashion designer today, Sera. Can't blame you though...Zeehttps://www.blogger.com/profile/02046472160770720576noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-85563973701484267472008-09-03T13:41:00.000+10:002008-09-03T13:41:00.000+10:00let's see. if i save a dollar a day at eight perce...let's see. if i save a dollar a day at eight percent annual interest, minus 40% for tax and factoring four percent inflation, plus $120 a barrel for oil, each dollar i save will be worth a (negative) eight cents when i retire.Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-76687531230402441572008-08-29T16:43:00.000+10:002008-08-29T16:43:00.000+10:00As always, I enjoy learning something new here! Th...As always, I enjoy learning something new here! This certainly stirs the imagination!!Anonymoushttps://www.blogger.com/profile/16539850495318868267noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-68583551155054984832008-08-28T22:24:00.000+10:002008-08-28T22:24:00.000+10:00Hi Susan, Scaramouch Jones, Zee, Sera, Cart & ...Hi Susan, Scaramouch Jones, Zee, Sera, Cart & Gary <BR/>Thanks for your comments.<BR/><BR/>Susan ~Very similar but we do have 100% vesting, e.g. the funds remain always yours and are not contingent on any factor such as years of employment. <BR/>Hopefully fresh political faces in the USA will eventually introduce a universal health scheme funded on a levy on taxable income which would reduce the present duplication; the opportunity for fraud and a halt to uncontrolled runaway costs. <BR/><BR/>SJ - I remember that incident- Keating also wants us to become republic. <BR/><BR/>Zee –I think at times it can also be fun growing your own food! It’s been estimated a family can almost become self sufficient in vegetables and fruit given only 900 square metres of land! <BR/><BR/>Sera- your best investment is the one you make in yourself and or your own business, but do put some saving aside for your future! <BR/><BR/>Cart - Paying in additional 6% into super savings in lieu of reduced tax makes more sense as it creates saving and enriches the nation? <BR/><BR/>Gary – Governments become ideologically driven and forget their funding is from the community who expect encouragement and sensible policies for all. Harper is a ‘Howard’s man’; on most issues as you have experienced. I notice Finance Minister Jim Flaherty budgeted $2.3 billion surplus is now looking very shaky. I also notice the Governments generated a $4.25 billion windfall from the just-completed wireless spectrum auction. <BR/><BR/>Best wisheslindsaylobehttps://www.blogger.com/profile/16774918551798647046noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-35750848832618071132008-08-28T13:37:00.000+10:002008-08-28T13:37:00.000+10:00Hey, we could use him here. We have a government w...Hey, we could use him here. We have a government who'd like to see everyone for themselves, without the government help. <BR/><BR/>Interesting piece.Garyhttps://www.blogger.com/profile/15148485566444804108noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-69842393045604283222008-08-27T14:40:00.000+10:002008-08-27T14:40:00.000+10:00once you begin tounderstandcart, it changes again....once you begin to<BR/>understand<BR/>cart, it changes again.Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-65275127146114918572008-08-27T12:02:00.000+10:002008-08-27T12:02:00.000+10:00You and DK always trip me up on these finance issu...You and DK always trip me up on these finance issues :( I should put more time into understanding. Oh well, one day...Cartledgehttps://www.blogger.com/profile/11929350278316125588noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-61451963272407003952008-08-25T14:40:00.000+10:002008-08-25T14:40:00.000+10:00if i spend 15% more than I earn each year until I ...if i spend 15% more <BR/>than I earn each year <BR/>until I retire,<BR/>i must be american.<BR/><BR/>my home equity<BR/>america's superannuation <BR/>will bail me out,<BR/>if the bank doesn't<BR/>foreclose first.Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-45072960101539839442008-08-25T14:28:00.000+10:002008-08-25T14:28:00.000+10:00it's funny how someonewith no economic experienceb...it's funny how someone<BR/>with no economic experience<BR/>becomes Treasurer<BR/>until you realize how little<BR/>economists and financiers<BR/>seem to know.Seraphinehttps://www.blogger.com/profile/06527934346602655741noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-76933360849047425182008-08-25T14:09:00.000+10:002008-08-25T14:09:00.000+10:00I don't trust banks, I don't trust the government ...I don't trust banks, I don't trust the government - retirement is solely a ten letter word to me.<BR/>I can grow food on my land, have my own water - that is my retirement. I guess I am lucky.Zeehttps://www.blogger.com/profile/02046472160770720576noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-31721340450176092092008-08-24T07:58:00.000+10:002008-08-24T07:58:00.000+10:00Keating also goosed the Queen. Points for that :)Keating also goosed the Queen. Points for that :)SJhttps://www.blogger.com/profile/02123593544460109512noreply@blogger.comtag:blogger.com,1999:blog-9716997.post-55311607195856563242008-08-24T06:23:00.000+10:002008-08-24T06:23:00.000+10:00It's a plan I wasn't familiar with but the idea so...It's a plan I wasn't familiar with but the idea sounds similar to company pension plans and IRA's in this country. The stumbling block to retirement plans in the US is the necessity of funding medical coverage. Full Medicare (at age 65) still means just 80% of medical care is paid and the figure I've seen that retired people over that age need to have banked is $300k. This is quite obviously an impossible amount for most retirees so there's little choice but to keep working as long as is physically possible. The personal savings rate in the US is noted to be mostly in low or even negative numbers. <BR/><BR/>I hope your current government does endorse the 15% superannuation contribution. I know you have a national health care system and with that in place it would allow mature people to contribute to the social well being of the country and at the same time allow room in business for young people with new careers and families.<BR/><BR/>What will happen here in the coming 20 years remains to be seen.susanhttps://www.blogger.com/profile/16747450215034568033noreply@blogger.com