Pickles
Member Since: 26 May 2013
Location: Melbourne
Posts: 3752
 
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I don't know how superannuation works in the UK, but in Aus there are different risks than you can choose in whatever fund you are in, basically cash, balanced growth, aggressive, will give you a progressively better return, but the higher the return, the higher the risk.
We've always left our money in Super in the "Balanced" area, which has given us a pretty good return, between 10-17% in some years.
I don't know how your fund has performed over the years, but you could easily find out, & transfer to a better fund if you wanted to. The longer you leave money in super, and the more you put in, the better it is in the long term with the benefit of compound interest.
We also bought blue chip shares, Banks, BHP etc, which pay a good dividend.
We've never bought property because if you have a bad tenant, it can cost you a lot of money. A friend of mine who is a used car dealer said the only property he would buy would be a workshop property, (3 concrete walls & a roller door,...can't do much damage to that He said!)
Everyone will have a different view with respect to what works for them, these are just mine..
Regards, Pickles.
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13th Jan 2021 7:42pm
