Nice People Thread Number 11 - A Treasury of Nice People

Generali

CKhalvashi wrote: »

It sounds a lot more simple than the UK system IMO.

Didn't want to seem intrusive, just interested in how things work in other countries

That's ok. If I thought you were being intrusive I'd not answer

It works well. The employer has to put in 9.5% of your income into a pension scheme if you earn more than $400 in a month. They can put in extra if they want as can you. You pay 15% tax on money going into super up to $25,000 a year except for 2 years in your life when you can put in $300,000. Anything over that you pay 45% tax. Money coming out of super (i.e. when you retire or if you get really sick) is tax free.

The Aussie super system only really works because we're a pretty low tax country. Total tax take is well below 30% over here across all taxes. Spending (a good guide to future tax) is also below 30% despite having universal education and healthcare. Super is effectively a tax on employment but it reduces future taxes considerably. I shouldn't have ever to rely on the state to pay for my pension unless I become very sick for a very long time.

lemonjelly

Generali wrote: »

5 down, 10 to go.

It's really starting to ache now but I'm seeing the specialist tomorrow so I'll have a chat with him about it.

Advance warning, & I don't mean this in a bad/scary way, but you might start feeling a bit rough across the next week. The accumulation of the treatment you're having might drain you a bit.

Obviously I'm no expert, but that's what happened to my friend. OK for a few sessions, then it hit.

Like I say, don't want to scare you, just pre-warn you mate.

tomterm8 wrote: »

It's too hot. Far too hot.

Too early in the year to be saying this, surely?

Perhaps you need a pina colada?

lemonjelly

I'm still finding Rik Mayalls passing a shock btw. 56!

CKhalvashi

Generali wrote: »

I get to pay life insurance and income insurance via my super so I can pay for it out of very lightly taxed income. Add to that the fact that I am employed by an insurance company I get a great deal.

From memory I pay about 40bps on my investments through my super plus a little for the insurance. My employer puts in 12% of my income each year into my super scheme. I pay costs and insurances out of that. They do not match any extra I put in though.

1.5% is taking the p155. Vanguard will sell you a tracker on the S&P 500 for 7bps (0.07%).

It's 1.5% of gain, not 1.5% annual, sorry, should have made that clear.

Generali

lemonjelly wrote: »

Advance warning, & I don't mean this in a bad/scary way, but you might start feeling a bit rough across the next week. The accumulation of the treatment you're having might drain you a bit.

Obviously I'm no expert, but that's what happened to my friend. OK for a few sessions, then it hit.

Like I say, don't want to scare you, just pre-warn you mate.

I'm aware that the end of the week is when I might start to see side effects. I'm on a fairly low dose so I'm optimistic. Also I'm an optimist so I'm optimistic.

CKhalvashi wrote: »

It's 1.5% of gain, not 1.5% annual, sorry, should have made that clear.

Very unusual charging model. They charge you 1.5% of capital gains. That would equate to an average of about 8bps. That's tiny for a managed fund and a pension wrapper combined.

You might want to check again as it seems unlikely to me. A company like HSBC I'd expect to charge 1.5%.

Nikkster

lemonjelly wrote: »

Pedants point, I think they're called rawl plugs? Might be wrong.
The answer is, it depends on how big/heavy the picture is.

Yes, I meant rawl plugs. There was an invisible 'l' in there. I didn't mean uncooked plugs (I'm not quite that much of a DIY novice, and usually I can scrape up some common sense).

DIY programme last night - woman obsessed with using glue to fix everything. They did a 'test' where she proved you could glue a normal-sized photo in a frame to a wall. She said this was great as it was less faff than using rawl plugs. Which I thought sounded a bit ridiculous in itself (frame didn't look like it was made of lead or anything).

CKhalvashi

Generali wrote: »

I'm aware that the end of the week is when I might start to see side effects. I'm on a fairly low dose so I'm optimistic. Also I'm an optimist so I'm optimistic.



Very unusual charging model. They charge you 1.5% of capital gains. That would equate to an average of about 8bps. That's tiny for a managed fund and a pension wrapper combined.

You might want to check again as it seems unlikely to me. A company like HSBC I'd expect to charge 1.5%.

Checked the online banking. Its 0.75% annual management charge through HSBC Premier.

You made me think it was too high, which was why I've backtracked, thought about it, and found it was wrong.

Most of my pension is in smaller companies, where generally the returns are better than on the FTSE100/250.

0.07% I thought was far too low. Investments confuse me

tomterm8

Nikkster wrote: »

. They did a 'test' where she proved you could glue a normal-sized photo in a frame to a wall. .

You can. But you can't unglue a normal-sized photo in a frame from the wall... not easily. Hence the rawl plugs. Whatever they are.

Or the blutack...

PasturesNew

lemonjelly wrote: »

If you're with BT, you can put the move date & address into your online account & they switch it over on the date if there is a BT connection at the new place.


Actually, I won the poster & it is signed (by lemon jelly!)

Cheers! I am with BT.

lemonjelly wrote: »

I'll be there in half an hour to show you...;)

Thanks, but it'd be quicker/easier if you popped to show Nikkster and she can explain/describe it to us all here.... also, she probably needs to know too .... same situation and actually a home owner....

I bet she'd love to do some outdoor groin thrusting in this weather, with or without gin.

PasturesNew

tomterm8 wrote: »

... my ambition in life is to have enough money to hire people to do that sort of thing for me. And prior to that point I just don't bother...

... my ambition in life has been downgraded to having enough money to consider that I might, one day, be able to buy a poster for a wall! At least I can afford the wall!