Hi Mike,

I doubt that your disclaimer has any protection for you, as it was not part of the original document.

Tar Trekka.

Any day above the ground is a great day.

You have probably found out that to start an Allocated Pension, funds need to come from a Superannuation Account.

If your properties are in a super fund and are "Undeducted Contributions" check with Centrelink to see what effect this has on your assessed income.

In my case the Undeducted Contributions resulted in eligibility for a Low Income Health Care Card.

As I said check the above out with Centrelink.

I have a Self Managed Super Fund , and this was my choice but it takes time to keep a watch on investments and a steady nerve to face the recent challenges.

Pedro

Thanks for your input Mike.
Dont worry about tripping away. I am not going to splurge the lot on Telsra shares!
Yours is just the sort of info I am looking for. Someone who is prepared to write down some figures.
I just dont want to give large, and often ongoing commissions to FPs who probs dont deserve it.
Cheers
Dentoz

[quote="Tar Trekka"]Hi Cliff & Di,

I’ve been retired for eight & a half years & have nearly double what I started with, so I guess my Fund Managers are worth their money.

Hi tar trekka
So what have your fund managers been investing your money in?
Is all or some of it in an allocated pension?
This is what I am asking. What are the details of the investments?
What fees do they charge?
Cheers
Dentoz

dentoz,
I am the last person who Mike needs to worry about, I knew exactly what he meant. As Mike would know, his worry comes from anyone who may take this comment (thought) and run with it. If it goes sour, then often the people who took the advice go sour themselves and try to appoint blame and may seek compensation.

It is that type of world now where people trying to help others need to make sure it doesn't come back on them.

It is a NO GO area for those who are not accredited in finiancial stuff now. I am sure Mike would have understood my comments.

And Tar Trekker is also correct, DIY does take your time, it all comes back to trust and ability. Lots of people out there who want to have a share of your money, just a lot less who want to share your responsabilities.

Good Luck dentoz

Hi Dentoz,

It would appear that you are trying to find a solution without really addressing YOUR NEEDS & DESIRES.

What I or others have done, should have absolutely no bearing on what you do for your “Retirement Needs”.

See a Professional, (Preferably a Certified Financial Planner) sure it may cost a few dollars, but it could cost a lot more if you do it yourself & get it wrong. Call the Financial Planning Association for a Planner in your area.

These are some of the issues you should discuss with your Financial Planner in the first instance.

1) What are you trying to achieve in retirement? (Preferred Lifestyle)
2) How much income will you need to support your Preferred Lifestyle?
3) For how long will you need this income?
4) How will you fund the income you need?
5) Will you need any “Lump Sums” along the way? New car etc?
6) Where will these lump sums come from?
7) Will you be entitled to any Centrelink Benefits?
What is “Your Risk Profile”? (Extremely Important)
9) What is your experience & expertise with investments?
10) What is your Spouse’s “Risk Profile”?
11) What is your Spouse’s experience & expertise with Investments?
12) Do you BOTH FULLY UNDERSTAND your Investments?
13) If one of you dies, will the other know how to carry on with your Investments?
14) Do you both have up to date Wills?
15) Do you both have up to date Powers Of Attorney?
16) MAKE SURE THAT WHATEVER YOU DO PASSES THE SLEEP TEST.

As for me, I’m 65 & a “Balanced Investor”.

Sure I run the risk of “The Market”, but probably a bigger risk is “Outliving My Investments” if they don’t grow over time.

The fees I pay are reasonable, not cheap, but I’m quite prepared to pay someone else to have the “Money Management Stress” & I’ll go caravanning.

Most fees are to some extent “Negotiable”, so don’t be afraid to negotiate.

However, you didn’t work for nothing, so don’t expect Advisers & Fund Managers to work for nothing.

This should not be taken as investment advice, just a few general ideas to get you started.

I can’t stress it enough; get “Face To Face Professional Advice” to suit your unique Retirement Plans.

Tar Trekka.

Retired Certified Financial Planner

Any day above the ground is a great day.

Hi All, I am sorry if anyone thinks I was giving financial advice. The figures were an example of what could be achieved and NOT advice.

However, I believe that this forum gives lots of advice and recommendations every day on a range of subjects. So, thank you for advising me that I should not have put down facts and figures and next time if it is a subject I have knowledge of, I will only give general information.

We are loving every minute of being full-time Grey Nomads, and it is because of my DIY super fund (also called a Self Managed Superannuation Fund - SMSF) that we can enjoy quality life with enough money to do all the things we want. We fully fund our lifestyle with no help from the Government!!!

Hi Tar Trekka
Thanks for your reply, however, I think you may have missed my point. I have of course already considered all those points (and worked out all our needs and desires) and consulted 2 financial planners and the purpose of my question is to seek more details of what investments others are making.
As I have said previously in this forum I am looking for feedback of actual figures ie. what are you investing in and what sort of return are you getting.
If you dont feel like you can post this on the forum you can always send a PM.
Any figures given are obviously for information gathering only.
It is unfortunate that an earlier contributor got ticked off for providing just the kind information I was looking for.
We are just trying to make the most of our money.
Cheers
Dentoz

Hi Dentoz,

With all due respect, I haven’t missed your point.

From your initial thread:-

We will definately be using the FIS at centrelink which looks really helpful.
http://www.centrelink.gov.au/internet/i ... es/fis.htm
After reading this damming report on financial advisors, we feel we would be better off doing the investing ourselves.
http://asic.gov.au/asic/ASIC.NSF/byHead ... 20research

The above would indicate that you would be using Centrelink & not a Financial Planner.

Had you indicated in the first instant that you had seen two Financial Planners, I & possibly others would not have bothered to respond.

As I said in my reply:-

What I or others have done, should have absolutely no bearing on what you do for your “Retirement Needs”.

If you have seen two Financial Planners & can’t or won’t accept their advice for you as an individual, why would you even consider seeking advice from the members of a Caravan Forum?

Where would YOU be if only those who “Got It Wrong” responded?

Tar Trekka.

Retired Certified Financial Planner

Any day above the ground is a great day.

Very interesting and informative thread. 8 years ago, we seeked professional Financial Planning and in doing so, elected to go with a fully independent planner. Not with some bank or instituation etc.
One must be prepared to pay for the advice given, as our guy has set us up very well. Had I stayed with my own investment plans, we would be worse of today. We now enjoy the lifestyle we need and desire, and leave the planning to the expert. I did hang onto a share portfolio, which returns us fully franked dividends, So thank you Mr. CBA Telstra Nab
Westfarmers to name a few.;
I always tell people that the best advice I can give you is:-
"Don't ask me for advice".
Seek professional help.
Goof luck in managing your finances into the future.

jay&Dee