BrikoX@lemmy.zip to Australia@aussie.zoneEnglish · 8 months agoDraining entire superannuation savings wouldn’t cover most young couples’ home deposits, research findswww.theguardian.comexternal-linkmessage-square31fedilinkarrow-up169arrow-down13file-text
arrow-up166arrow-down1external-linkDraining entire superannuation savings wouldn’t cover most young couples’ home deposits, research findswww.theguardian.comBrikoX@lemmy.zip to Australia@aussie.zoneEnglish · 8 months agomessage-square31fedilinkfile-text
minus-squaretheroff@aussie.zonelinkfedilinkarrow-up3·8 months agoCherry picking an article seems to suggest the US has similar problems https://www.investmentzen.com/blog/average-401k-return Australia’s superannuation has improved over time. For example, the MySuper reforns led to consolidation and an exodus of underperforming funds. A quick search on some of the biggest super funds in Aus shows returns of > 9% in a more equivalent, potentially volatile “high growth” fund. There are funds that offer lower cost index-tracking products if that’s your thing. The biggest problem, IMO, is financial literacy which needs to play a bigger role in education.
Cherry picking an article seems to suggest the US has similar problems https://www.investmentzen.com/blog/average-401k-return
Australia’s superannuation has improved over time. For example, the MySuper reforns led to consolidation and an exodus of underperforming funds.
A quick search on some of the biggest super funds in Aus shows returns of > 9% in a more equivalent, potentially volatile “high growth” fund.
There are funds that offer lower cost index-tracking products if that’s your thing.
The biggest problem, IMO, is financial literacy which needs to play a bigger role in education.