Posts Tagged superannuation

Super not a Super Idea!

Well I may not be alone here but I really do not think, as a baby boomer myself and seeing the evidence, that superannuation is going to safeguard our future on it’s own!

Well by that I mean the government enforced 9% super required to be paid by employers. Of course we can all add additional super to our funds but again, I really do not think this is enough. I think we need to encourage our kids to expand their thinking into other areas for financial freedom and security in our retirement years. It has always be a bank and government related education in our schools around financial freedom. I still remember the prominent bank at the time coming to my school and giving us all passbook savings accounts to encourage to invest money with them – this was the way to be secure in the future! Who for?!! The bank!

Yes it is safe but no, it is NOT for the purpose of educating us and because that is what is best for us!

I would love to see education including financial freedom and leverage and superannuation to extend to other options like property – this is my focus. But children need to hear and learn this early, to change the cycle and allow time for change.

Property can be a great alternative to providing for the retirement years if you are educated in what you are doing and work towards a goal based on risk, cash flow and affordability. There are a few schools of thought in the property game including “duplication” V Positive Gearing, options, renovations to sell and many more. My chosen way is duplication because I get access to capital growth allowing me to build with the banks money – ah hah I hear you say, this sounds a complete 180 to what that bank man who came into my school many moons ago said! You are right!

So I say, why not use them rather then give them my money so they can use me?!

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