How to read & review your SUPER STATEMENT!

[@Dude6311]

Good video, straight to the point no waffling and very informatice

[@thetruthwithnardz]

Hey there. I found your channel today and your videos are so very helpful. Wishing you the best of luck

[@WhatIfAdvice]

Glad you like them - more coming soon.

[@adrianpaulramirez7617]

Very informative. Continue to share your knowledge mate. Cheers!

[@lilyt741]

Just discovered the channel and subscribed. Thank you for making these really helpful videos, looking forward to many more!

[@WhatIfAdvice]

Thanks Lily - heaps more coming soon!

[@TheGoldenAgeofHardRock]

I Love finding new finance and investing channels that I haven't seen before. Saw your comment on another channel and was curious about your channel name. You've got a great channel going here, Best Wishes on continued success!

[@WhatIfAdvice]

Thanks mate. Same to you. Will subscribe and follow your journey too!

[@TheGoldenAgeofHardRock]

@@WhatIfAdvice You're both welcome and Thank You! Cheers!

[@MM-ff1nd]

Very useful video, thank you so much for sharing it, looking forward to watch more of your videos 😊 just subscribed.

[@CheerSeeds]

Thanks so much for this video, talking to bankers are a complete nightmare. Looking through my parents' super I can see they are paying a whopping 2.53% in fees! As they are of preservation age should we just withdraw the whole lot to put into their savings account?

[@WhatIfAdvice]

Woah... withdrawing and going to a savings account is severe! If your parents are still working and have met preservation age there are a bunch of options they can look at… super is a great tax zone.. you need to understand it .. or talk to a financial adviser….. you can book in a chat with me on our website if you need help.

[@CheerSeeds]

Sorry if that was a silly question, because I'm wondering if there is any benefit at all to leaving their super alone (they are not paying for insurance or anything)

[@WhatIfAdvice]

@@CheerSeeds Sorry, not silly.. just complex.. it really depends on their personal situation

[@CheerSeeds]

@@WhatIfAdvice Ahh I see well they aren't working anymore they are both retired, does that simplify it a little bit?

[@WhatIfAdvice]

@@CheerSeeds Then it would come back to if the money should be invested or not.. and ... then.. how it should be invested.. and then consider which Superfund is appropriate.... clear as mud :)

[@ageofatheism6638]

Is the contribution fee also known as contribution tax? Is this tax a government tax or just a fee from the fund manager renamed?

[@WhatIfAdvice]

Yeah I'd say this is the contribution tax - it should be 15% of your contributions.

[@AliRaza-qg8rq]

if my fortnightly pay is $3243 and super is $270.25 in January 2022 should I investigate? I feel something is not adding up with the percentage

[@ashizor]

Hi, thanks for sharing your videos are very helpful :) I wanted to ask about the "contribution tax" that I get deducted every time my employer pays my super into my account. It's almost $300!! and I don't know what it is. can you please help me around that. Thanks heaps

[@WhatIfAdvice]

Thanks Ash, yes the government does tax your super when your employer adds it to your account. its currently 15% on contributions - so this is normal.

[@lisayuan]

So what does 'risk' actually mean in the high growth choice? Like how risky is the 'risk'? E.g. is it like 50% chance I'll get relatively rich and 50% I'll lose it all?

[@WhatIfAdvice]

Hi Lisa, I have a video coming out on investment choices coming out in a week or two that will explain property.. However... High Growth, usually means the fund has 90% shares/growth assets.... 10% cash/defensive assets. Every Superfund, and investment choice is slightly different. If you go to your funds investment page (Like "Australian Super Investment Choices" - and look at their high risk option it will tell you a few things like... Years you should be invested.. (like 10 years) and number of negative years to be expected (like.. 2 every 10 years). So your investment option isn't like flipping a coin - win it all / lose it all... Its more like a 'you need to be in this option for 10 years to ensure you have more than what you started'. So if someone was retiring in 10 years, they might not chose this option...

[@VV-lr7xe]

1-2% fee in super is ridiculous, yet unfortunately some are unaware and paying.

[@yeahnahlope]

LOL. When you calculate your fees to be more than 2% of your super balance. Cry.