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How do your superannuation savings compare to the average
Topic Started: 2 Sep 2015, 11:53 PM (1,918 Views)
peter fraser
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I came across this which is a site which compares your super at your age to the average Australian.

If this is correct then the average Australian doesn't have much superannuation.
Clearly these guys are trying to drum up some business, but you can compare your super without signing up.

The current crop of 65 year old retirees is going to struggle.

http://www.equipsuper.com.au/movethedial/
Edited by peter fraser, 2 Sep 2015, 11:54 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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The Whole Truth
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What the Mean savings, or the Median super savings? Please be specific peter.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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peter fraser
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The Whole Truth
3 Sep 2015, 12:19 AM
What the Mean savings, or the Median super savings? Please be specific peter.
It's funds held in super. I assume it's the mean or average but they don't specify that.

To be honest most people that I talk to have much more than that, but as people who can't afford homes or their own business rarely contact me then my average is probably skewed towards the top end.
Any expressed market opinion is my own and is not to be taken as financial advice
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Terry
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peter fraser
2 Sep 2015, 11:53 PM
I came across this which is a site which compares your super at your age to the average Australian.

If this is correct then the average Australian doesn't have much superannuation.
Clearly these guys are trying to drum up some business, but you can compare your super without signing up.

The current crop of 65 year old retirees is going to struggle.

http://www.equipsuper.com.au/movethedial/
Take a look at the board of directors. Incredibly well educated bunch of fossils, most of whom have spent their lives in the energy industry. The super industry is either directly or indirectly a place for people to trough on other people's money.
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Sydneyite
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Well apparently I have 300% of the "average" for a male of my age.
For Aussie property bears, "denial", is not just a long river in North Africa.....
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stubby
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Sydneyite
3 Sep 2015, 11:38 PM
Well apparently I have 300% of the "average" for a male of my age.
Well, apparently, mine's longer than that...

:lol :lol :lol
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The Whole Truth
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Superannuation is analogous to iron ore. As long is there is strong demand for iron ore the price stayed high. And as long as there is strong demand for the paper held in the super accounts the prices stayed high. But if people dont want bank bonds, don't want leveraged property paper, or stocks and bonds, the value of the accounts plummit.

That's what has allowed billions of people across the globe to amass greater and greater wealth at a time when the natural resources underlying the wealth claims have been diminishing at an ever increasing rate. Leveraged paper claims don't equal future vacations to Europe or the purchase even of food and petrol if the paper (or digital) claims vastly exceed the tangable desires of retirees.

And they do vastly exceed. Which is why the recent repricing in global markets is nothing to be concerned about. It's a natural process, embrace it.
Edited by The Whole Truth, 4 Sep 2015, 09:16 AM.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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stubby
4 Sep 2015, 02:15 AM
Well, apparently, mine's longer than that...

:lol :lol :lol
Good for you! I hope you get use it often and well in the future as you pass the preservation age! :lol
For Aussie property bears, "denial", is not just a long river in North Africa.....
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herbie
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Sydneyite
4 Sep 2015, 09:42 AM
Good for you! I hope you get use it often and well in the future as you pass the preservation age! :lol
Mine's very well preserved - To the point where the word "embalmed" comes to mind even - LOL
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Mike
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Sydneyite
3 Sep 2015, 11:38 PM
Well apparently I have 300% of the "average" for a male of my age.
I was just below that at 292% of the avg male my age.

http://mike-globaleconomy.blogspot.com.au/
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