Hmm... $100k invested during the crisis - GFC, can make a return of > $200k. Why not ? Keeping SG is a liability, unless you have zero CPF and no kids for NS.
The good old days. Can't wait for another GFC for a kill.
It should be here when the Euro break up next year.
CPF vs Super
Property will be down. There is one excellent reason why Ned still have Super with GESB. (I used to have ARIA as well)
GESB is for WA public servants. Ex servants too!
One of the 3 funds that operate differently as a former state owned fund - No 15% tax because the Fed cannot tax the State govt. When we take out, we pay the tax, but not thru the annuity route. No quota on contribution limit, others have $100,000.
The unit price for my investment is visible, and I can operate it like a Unit trust.
The most important is the South African Investment Manager. This guy know what he is doing. I just have to remember what he told me when I wanted to move my funds from Growth Plan to Cash Plan. He said something like "He cannot advise me because he will get into trouble. But he had advised his kids to do the same." Just remember the 10% tax on capital gain later when you move back. WHAT A BIG TIP!!! Best decision I have made because I was able to ride the growth wave by switching plans. My latest switch happened less than 2 months back and I made $5000 for 6 weeks effort.
I cannot do this for CPF 2.5%! Even the Cash Plan is earning at least 5%. I have not calculated my capital gain byswitching plans. Some super funds only allow 1 or 2 switches a year.
Sorry if I repeated this in the past posting, but I like the flexibility with my superannuation fund.
Super vs Aged Pension.
I have re-built my Super to a comfortable level. It sort of made up for taking out Singapore CPF.
I will be reviewing my investment mix next Feb. This current financial year returns is slowing down.
I am ready qualified for aged pension, having worked for >10yrs here. Tax office has my records.
But I prefer a self-funded retirement. The govt aged pension is the safety net. At least I do not see myself jumping into Bedok Reservoir over financial distress.
Most GESB members enjoyed sound returns for the 12 months to 30 June 2011. The West State Super Balanced plan returned 10.38%1 over the 12 months to 30 June 2011 and the GESB Super Balanced Growth plan returned 9.93%2 for the same period while the Retirement Income Balanced Plan returned 10.37%3.