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Superannuation gripe - a lesson for all 30-Oct-2008 At 5:18:40 PM Capt_mulch

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Brothers and sisters - a lesson for all.

As I'm sure all of you are, I'm a bit of a complicated person, but then again, I'm a bit simple, especially when it comes to matters such as superannuation. I'm of the old school that thinks when you put your money into super it's being looked after and at the end of the financial year you've got a bit more than you put in after all that sweat and toil when you've been working for the man. I've never had much super, as I used to have my own business and the best investment was the business, then I've been overseas for a few years and not contributing. I've been back in Australia for the last couple of years making decent money contracting in Canberra and putting my money into what I thought was a reasonable super fund. I finally had a look at the statement, and out of the almost $12,000 I contributed in super last year, the buggers managed to lose $3,000 of it, then I went online, and in the last four months they've managed to lose another $3,000 - and I've been contributing next to nothing in that time. This is after paying them a $750 fee for (not) looking after my money. If I'd just put it in a fixed term deposit in the bank I would have earned 5% on it.

If you ring the super company, they won't give you any advice on what to do, so it's up to you to decide what you want done with your hard earned cash. Can you see why I'm fricken pi55ed off at the moment?? I highly recommend (though I'm not giving any kind of advice at the moment - ask me about plants or computers and I'll be more than happy to spray) that anyone with any super puts it into a really 'conservative' option - usually something called a 'cash' fund (hmmm, sort of like putting your money into the bank on a fixed term deposit???).

Why do I get the feeling that no matter how you live your life, someone always has their grimy hand in your pocket. Sometimes I feel that you might as well take your wallet, fill it full of cash, and throw it out the window. Either that, or go on the dole and live in The Pines - bore or no bore!!!