The Australian Government encouraged individuals to invest Billions of dollars into Superannuation prior to 1st July 2007. With the recent falls in the share market, has all that money now been lost?
2007-08-15 14:57:38 · 2 answers · asked by Anonymous in Business & Finance ➔ Investing
Investing in the share market is often a long-term thing. When shares go down in value you only lose money if you panic and sell them. If you hold on to them they will go up again. Therefore all the money that you think the superannuation funds have lost is only on paper and will go up again in time. We have found superannuation the best way to save money for the future - we are now living on our superannuation money via an allocated pension and have a very good life-style.
2007-08-16 00:46:41 · answer #1 · answered by margy s 3 · 0⤊ 0⤋
I don't see anything in this about voluntary contribs before 2007 .
They look like mandatory %s of each wage by the employer . . .
And the basis of investment looks very diverse and not all in mortgage bonds or anything . . .
http://en.wikipedia.org/wiki/Superannuation_in_Australia
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2007-08-15 15:16:32 · answer #2 · answered by kate 7 · 0⤊ 0⤋