Sorry another pasted link.

www.newscientist.com/article/mg21729013-600-environmental-crises-may-threaten-pensions/?ignored=irrelevant

Spocktek said...
Dude, you wonder why they reckon windsurfings for ol' farts, posting shiz like that!

So you think you're going to stay young for ever??????

Just think one day you're going to be an old fart as well, and more than likely it won't be such a pleasant place to live in as we have it now.

der noddy .Just deserts for our selfihness and desire to drive gas guzzling cars even to the dunny if we could, bikes are no longer used as transport and one must look like some oversponsored lycra wearing dik if you ride one,we dont walk anywhere and waste time and precious resources wearing off the fat in energy guzzling gyms that feed ego maniacal wallys, and we live in mc mansions that require a mortgage our grandchilren will still be paying off when they are grandparents with just about every rediculous energy sapping gadget ever thought of .I see that a billion trillion $$$ supply of shale oil has been found in SA so that it can be burnt in 5 minutes flat by the current crop of the selfish lazy and greedy.
as the old saying goes we reap what we sow,this report is no surprise and states the bleeding obvious

By the time I retire I bet the government will need my super fund more than I do and will impose a 95% tax on it if you start making use of the funds under the age of 90. Work till you die then they will take it all anyway.

Even the Romans freed slaves after 20 years of service.

Related:- They are calling it "The Superannuation Black Hole".

www.abc.net.au/7.30/economists-warn-superannuation-may-not-fund/4282478

mineral1 said...

grumplestiltskin said...
Perhaps slightly off topic, but who can explain to me the thinking behind limiting the amount you can put into your super each year to $25,000??

Buggered if I know, but both sides are in on it. Big money side of town I think. P1sses Government off they cant get hands on the huge reserves of coin though.
Even a poweful lobby group has been banging its head against the wall trying to unlock system to allow people to place Super in bricks and mortar. Obviously the big investment houses have a louder word, and more money

I think the problem was crew over retirement age putting all their extra over income into super and withdrawing 85% in the same year and only paying 15% tax, sweet deal for the rich, but the govt was missing a lot of tax.

When an economist who is the darling of the mainstream media is serious about the US Treasury minting a trillion dollar coin so government spending can continue without having to negotiate debt increases with congress, you know its time to get out of American investments.

Sorry for the stupid reply, I didn't mean any disrespect from what I said.

Spocktek said...
Sorry for the stupid reply, I didn't mean any disrespect from what I said.

No worries Spock, I just did my grumpy old fart routine and over reacted.

I know how easy it is to be so seduced, by good times and image, when you're young, that you don't want to think about the future or anything serious. It's become uncool to think too hard about anything.

And there are a lot more older windsurfers than there are older kiters, so what!
Who cares, it's just not important, if you prefer to windsurf, that's great, just don't be worried by childish taunts from immature people who can't understand why anybody else would choose to be different to them.

decrepit said...
I know how easy it is to be so seduced, by good times and image, when you're young, that you don't want to think about the future or anything serious.

As a ...oh god, middle aged man I say enjoy being young and "foolish". Live for the moment while the future is so, so far away. Enjoy it while you can. Don't waste it.

There is a balance to be found.

But anyway, there are two people I know with $1m+ in cash. They have paid off the mortgage, even two. They work 3-4 days a week, casually. They make more money than they spend. All they did was pay off their mortgages as fast as they could. They invested in a factory (empty/rented) and not much else. One had a property burn to the ground thanks to some local arsonists. All insured, no worries.

I think the safe, boring, reliable method is the best because I've also seen a few people become very rich from trading, to lose it all.

Small sample sizes I know.

I'd be retired if it weren't for...

...shhh, she's coming.

Bank Clerk: How can I help you, young man?

Stan Marsh: I got a hundred-dollar check from my grandma and my dad said I need to put it in the bank so it can grow over the years.

Bank Clerk: Well that's fantastic. A really smart decision, young man. We can put that check in a money market mutual fund, then we'll re-invest the earnings into foreign currency accounts with compounding interest aaaand it's gone.

[Blank stares and silence as it goes from the Bank Clerk, to Stan, to the Bank Clerk, to Stan]

Stan Marsh: Uh... what?

Bank Clerk: It's gone, it's all gone.

Stan Marsh: What's all gone?

Bank Clerk: The money in your account. It didn't do too well, it's gone.

Stan Marsh: What do you mean? I-I have a hundred dollars!

Bank Clerk: Not any more, you don't.
[Gestures]
Bank Clerk: P00f!

Stan Marsh: Well what can I do to get back my...

Bank Clerk: [Interrupts] I'm sorry, sir, but this line is for bank members only.

Stan Marsh: I just opened an account!

Bank Clerk: Do you have any money invested with this bank?

Stan Marsh: No, you just lost it all!

Bank Clerk: Then please stand aside for people who actually have money with us. Next please!

Stan Marsh: [Getting pushed out of the way] Hey!

Bank Clerk: Hello Mrs. Farnickel. How are you, today? Making a deposit, are we? Greeeat. We can just put that into your retirement account and make it go to work for you aaaaand it's gone.

Mrs. Farnickel: Whaaat?

Bank Clerk: Sorry, yeah, it's gone. Please step aside for people who actually have money with the bank. Next please!

Stan Marsh: Dad!

Randy Marsh: Hey, I'm trying to teach my son the importance of savings. You already lost his money?

Bank Clerk: Oh, Mr. Marsh! D-d-don't worry. We can just transfer money from *your* account into a portfolio with your savings... AAAAAND IT'S GONE! This line's for people who have money with the bank, only, please step aside!

[Randy and Stan stare dumbfounded]

Mr float said...
jeez 6 one in one hundred year weather events in 10 years here alone and people are worried about their pension funds .What they should be more worried about is where those funds are invested ie are they in companies that are contributing to catastrophic climate change if so ....well.......

I think that was one of the points of the article. If your pension fund isn't taking future events into account, they're going to go bust!
So it makes a lot of sense to be investing in stuff that doesn't make things worse, and hopefully helps makes things better.