eKourier Oct 2020

FINANCE

SUPERANNUATION IN WILD TIMES

T he ASX reached a high on Friday, 21st February and a low on Monday, 23rd March which was a drop of 36%. By the 10th of June the ASX was only 14% down. Lately there have been a few jitters and things have dropped a little, so hovering around 14% down on the February high. Should you be retiring in the next few months, this would not be ideal. If you still have 10, 20 or 30 years to work, there is nothing to be concerned about as things will return and investments will settle down and grow again. we have all thought about this as we work our way through Covid-19. It is far more alarming if we are approaching retirement to have a significant event like Covid-19 or a Global Financial Crisis. IF YOU STILL HAVE 10, 20 OR 30 YEARS TO WORK, THERE IS NOTHING TO BE CONCERNED ABOUT AS THINGS WILL RETURN AND INVESTMENTS WILL SETTLE DOWN AND GROW AGAIN. World Economic markets have been on a wild ride over this year as a result of Covid-19. What is happening to my Super? I am sure

“Great Attentive service from kind people! The lady helped me to carry my boxes to my Uber and one of the male staff there helped me calculate the most cost efficient selection of storage for my needs. I would definitely recommend this branch. I would also like to commend the company on its sustainable policies regarding barely used and unused boxes. Thanks guys!" Lien "Fantastic staff, greeted me when I arrived, knew already from how I turned up what I was storing, let me in immediately and helped me to reverse into the spot. Friendly and efficient, great customer service at Macquarie Park." Robert "Can not recommend Maria and the team at Kennards Petersham more. They were extremely helpful in a stressful time and couldn’t have been more supportive. They were never pushy, and even encouraged me to book a smaller unit! I am glad I chose them to store my mothers things and will be using them, if I need a storage solution in the future. Thanks team." Madeleine "I was able to organise a storage unit very quickly at Rydalmere after our garage at home got completely flooded and had to be cleared for clean up. Very friendly and helpful staff. Great facilities and easy access in and out of the complex. The large trailer you can hire when needed is a great bonus and you get a compli- mentary day after you first register for a unit." Alex

time to return to normal. • Some businesses will boom, some will never get back to where they were, and some will fail. • There will be ups and downs and hiccups along the way. • The world will move on from Covid-19 but depending on a vaccine, things could take some time. What should you do: • Keep across communication from your Super Fund. • Be aware of what investment choices you have selected. As we get older our investment options should be more conservative so that a significant event does not see a large portion of the balance lost. • Seek financial advice as to how best to manage your financial affairs to achieve the best outcome for a successful and happy retirement. • Compare your funds returns vs other funds over the last 5,10, 15 years. • Compare fees to other funds. • Be aware of legislation changes and how you can maximise your contri- butions, returns and changes to your Super plan. • Contact your Super Fund to receive feedback and input. Our Super is a long-term investment and we should not panic.

‘

What will happen going forward, if only we knew:

‘

Anthony Rous Chief Financial Officer

• The impact of Covid-19 will take a long

8 Kennards Kourier Oct 2020