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Super

Answered 4 years ago

Just wondering how much everyone has in their super accounts, your age and whether you contribute any extra?


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ANSWER
4 years ago
37 and around $420k.
I am a mining engineer.

ANSWER
4 years ago
It was at 9.5k before kids.
6.2 in July lol. I took it all out at covid to stop it decreasing.

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REPLY
4 years ago
Trying not to be rude here but did you actually need it, or did you take it out only to stop it reducing? That’s what super does, it’s really normal for it to fluctuate over time, as long as the gradual trend is upward.

Not sure why you’d take it out to prevent it decreasing if you didn’t actually need it to live on supplement a COVID related decrease in income?

Your fine could be double the size of what you withdrew.

I find your comment bizarre, I’m genuinely keen to understand more.

REPLY
4 years ago
I met the criteria so I won’t be fined. No I technically didn’t need I used to for something that will save us a couple thousand a year in retirement, that we would have been able and going to purchase if my business hadn’t have been made to stop.I will be retiring in 2 years Without the use of super.

REPLY
4 years ago
It was always going to just be part of the lump of us selling everything up and cashing in our chips so to speak. We just got it a bit earlier to stop it decreasing

REPLY
4 years ago
I’d say she lost it in fees most likely

REPLY
4 years ago
Thank you for clarifying. That makes sense. I was the person who asked the ‘why would you do that?’ Question. Sounds like you have it all together.

ANSWER
4 years ago
44 about 120K. Had a bit more before CV, maybe $140K. Hubby has about 200. Sounds OK but Ive always worked apart from 6 years maternity leave (across 3 kids) so its not that much really.
Im not interested in putting extra in at the moment as we need to move to a bigger house so Id rather put that money into our mortgage, I think mortgage is just as good an investment as super.

ANSWER
4 years ago
$0

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REPLY
4 years ago
I also have nothing due to my super taking most in fees over time and being a young mum and sahm for years. Many people have different paths and life stories. Many people also have had to make sacrifices along the way for family and withdrawing what little they had to make it through during covid. Do not call people an idiot when you do not know their story.

REPLY
4 years ago
And if you have super be proud you had support to work, people you could rely on to watch your kids and money to afford childcare. Not everyone has those in life. Some of us have no support, no financial support and no matter how hard we try keep getting kicked down. It is what it is but name calling is childish and petty. Feel free to share your wealth with the needy.

REPLY
4 years ago
Thank you. I spent my teens and start of my 20s trying to make it as a professional in a sport. Unfortunately unless you are the best in the world doesn’t pay much then I was in the workforce for a very short amount of time before I had my first child and have been a SAHM since. Unfortunately we don’t get paid for that job so no super. It happens but I think I’ll be ok

REPLY
4 years ago
^ actually, in reference to the 'money to afford childcare' comment, the poorest people get the cheapest childcare in Australia. The issue is probably more to do with the hours that childcare are open. Not every job is weekday 9-5

ANSWER
4 years ago
I’m 45 and have nothing. I’ve only ever had part time low paying jobs as my priority was my kids. The fees ate it all.

ANSWER
4 years ago
40 yrs old, only 17k. Clearly I dont make contributions 😂

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REPLY
4 years ago
I don't either 😂
But that said i had friends who did who lost 90k so that's money they contributed gone!

REPLY
4 years ago
I take it you mean because of the market drop? They only lose it if the withdraw. It'll go up & down. That's investing for you!

ANSWER
4 years ago
870k
I am 57

ANSWER
4 years ago
40 $75,000

ANSWER
4 years ago
36, 350k. I’ve busted my backside making additional contributions since I started working at 18. My work contribute their amount and I contribute 10% of my wage, always have, I also make voluntary contributions when I can my husband has a much lower wage than me so it makes sense that I as the breadwinner do this.

ANSWER
4 years ago
30 and about $55k

ANSWER
4 years ago
34 yrs $40k, lost about $9k during covid but it's picked up a little

ANSWER
4 years ago
I’m 33 and have 33k haven’t contributed but one I pay out personal debt I would like to start

ANSWER
4 years ago
In 43. Atm, thanks to a Covid hit, it's sitting at 500k - was around 520-530k prior but is growing nicely & hopefully I'll go back to work next year after four years at home & help it along.

It's not a high $ amount in comparison to people I worked with under similar rules (government) who'd been there for 30+ years.

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REPLY
4 years ago
What sort of work do you do?

REPLY
4 years ago
I worked at a university for 20 years, average paid position.

It's the employer 17% super, plus 'voluntary' (no choice) 7% contribution I had to make & doing this starting young that's made it grow. I'm glad now, though.

ANSWER
4 years ago
39 and have around $120k, I don't contribute extra

ANSWER
4 years ago
42 and $170k.

ANSWER
4 years ago
I’m 30, currently have 53k in super and thinking about contributing an extra $200 a month once I go back to work from maternity leave. I haven’t yet contributed any extra.