He is alarmed by research from the Financial Planning Association that suggests 62 per cent of parents think their kids, the "invisible money generation", will be financially worse off than them. If that's the case, the only thing you can control is the fees charged.".
He's waging a war against pay-later services like Afterpay that he believes are the financial equivalent of marijuana, as well as fund managers and money advisers he accuses of clipping the ticket for no real gain. The Barefoot Investor for Families is expected to deliver a similar bump to low-fee super funds like HostPlus, Sunsuper, First State, Media Super and, a recent addition to Pape's list, REST Super's zero-fee index fund. Who knows, but HostPlus seems to have the skills to be consistently one of the best performing funds with their Balanced option – but there's no guarantees and it is a riskier option with higher fees than Indexed, Just ask the local branch of Dutch multinational ING, which has signed up tens of thousands to its fee-free Orange Everyday bank accounts, what it’s like to have products given the Papel seal. See below for the link to our comprehensive FAQ site that may help with common questions. When www.kachingkaching.com.au closed down at the end of 2011, the site redirected users to http://education.hostplus.com.au, where “Australia’s favourite money guy” was on hand to help Hostplus members get on top of their finances. Democrat officials are worried Donald Trump may be making a 2016-like last minute comeback in the key state of Pennsylvania; Ninety million Americans have already voted; Three days to go until polling day. New comments cannot be posted and votes cannot be cast.
That is until Pape’s contract ended in 2012 and Hostplus lost the rights to his name, image and likeness.
How should people evaluate different super funds, if comparing returns is invalid?
Interested to know more. Now they are likely to start chopping up their credit cards in front of their kids as well. Now Pape has the CBA's school banking program in his sights. "The financial services industry is very good at flogging product. Archived versions of now-defunct websites show that the Ka-Ching Ka-Ching program offered a range of podcasts Pape had recorded especially for Hostplus members amid links to “the mothership”, the Hostplus website. I moved to Bendigo’s High Growth Index option (0.457%) for higher expected returns and lower fees over the long term. I appreciate all answers though so please, keep them coming. Help using this website - Accessibility statement, worth $2.5 billion in funds under management, stressed its ability to freeze redemptions, AMP investors still bullish on break-up despite offer, ASFA on JobKeeper as chief takes $50k bonus, Stock Swami's lawyers say Tolga Kumova started it, Brian Hartzer's Practical Guide to Image Rehabilitation, ScoMo's belated interest in 'other people's money', Fire, smoke and steam add ancient drama to new food venue, Why slogomania has overtaken logomania in fashion, Italian inspiration meets Australian flavour in new liqueurs to love, Six things I learnt from trying 20 online courses, Rich Listers win with boards that can say no, Art finds unexpected new homes amid pandemic, Romance in a perfume bottle, 100 years on, Everything but the crowds: Behind the scenes at the Melbourne Cup, Australia's cattle kings and queens on top of the world, The full list: Australia's wealthiest 200 revealed. I’m just telling you what I do with my own money. the problem is this assumes someone is incapable of changing their fund or going to a cash option. Whether or not the Barefoot investor was in bed with Hostplus, the fact remains Hostplus indexed options have the lowest fees. It used to have a cartoon character called 'Cred' who was a really cool dude. Everyone knows past employment is no guarantee of future endorsement. Got any more detail on this? Anyone who thinks a Balanced portfolio will outperform all others in a bull market is a fool, and comparing the same is a fundamental misapplication of an asset allocation strategy. It’s ironic that the same people who hate on Barefoot for the low-fee Hostplus recommendation also bang on about how ETFs are superior to LICs because the fees are lower and active management is unreliable. It’s true Hostplus provided no financial incentive for Pape’s endorsement – that’s not in dispute. The COVID-19 pandemic's escalating second wave has forced British Prime Minister Boris Johnson to abandon his whack-a-mole strategy of localised lockdowns and plunge England into a month-long shutdown. Just like everyone bangs on about ING, UBank and Macquarie being good bank accounts - surely we can start banging on about some key high NET performaning SUPER Funds too? If you're young <30 years old, stick your super into a 100% equity index fund. then you have more specific funds that are designed for their particular niche think Hesta, CBUS, BUSSQ, UniSuper, NGS, Care etc etc. ", Pape is waging a war against pay-later services like Afterpay that he believes are the financial equivalent of marijuana Joe Benke. Pape has met with a "whole range of politicians" and is working with the Victorian and other state governments to trial a program for year-10 teenagers. For example CBUS has access to infrastructure investments that have high income returns due to where they get their income from (not just toll roads but we are also talking office buildings rented out to government agencies) they claim a return of get this: 16.95% over 10 years from 2005 - 2015 (I need to get some updated figures but the S&P over the same period did about 7.8%), Now I know some fishy things about this practice in industry super funds and how they claim above market returns, but hey if they basically guarantee you a crazy return in perpetuity (they have a pretty good 31 year return) you might want to take advantage of it depending on the risks ;).
The option to invest your money into a high-growth index fund.And no life insurance until you have dependents (cats don’t qualify). Pape recommends parents "blend" their credit cards in front of their children and say "we don't do that any more" as a way of driving home the impact of credit card interest. I really dislike his advice in this space but that is because he is looking at one factor and one factor only and that is fees. Pape says we should be wary of the corporatisation of the classroom, "The CBA wants to sign up the kids; it knows 50 per cent of them will stay with the bank and the real reason comes when they turn 18 and get a credit card; it [the CBA Dollarmites program] is the best marketing for the bank ever.". Putting your income into separate "buckets". Queensland Premier Annastacia Palaszczuk has defied criticism about her border policy and been returned for another term in office after Saturday's election. I’m happy with my fund it’s called unisuper and both my investment options returned over 15% last year but it’s not open to the general public. It’s ironic that the same people who hate on Barefoot for the low-fee Hostplus recommendation also bang on about how ETFs are superior to LICs because the fees are lower and active management is unreliable. But Pape does have a prior financial relationship with the fund, not mentioned to readers. The Balanced option has consistently outperformed the Indexed option over the past 1, 3, 5 and 7 years. It's a lot better at doing that than we are at making informed decisions, so one of the things I believe in quite strongly is index investing; it is very hard to beat the index, very hard," Pape says. The Hostplus Index balanced fund charges a tiny 0.06 per cent management fee to track stock indices – saving its users thousands in fees over the lifetime of accumulation. "How likely is the CBA to be talking about the fact credit cards are bad? In the really good funds space you have some amazing mothership funds that are mega funds for all people. People here who babble about "net" performance don't understand that the outperformance of managed investments versus a market index not only approaches zero over time, but actually inverts.
RemindMe! Returns, Fees, Insurance and Service are the keys. Think AustralianSuper, Sunsuper , QSuper etc etc. Hostplus gets such a good rap that Pape tags an “important” reminder for readers: “Let me say this again: Hostplus is not paying me a cent. Any fund that is platinum rated with Superratings deserves it. There have been a few discussions on here recently about which SUPER fund people should be using and the advice provided in the Barefoot Investor is not the greatest regarding chasing lowest fee's. After doing a ‘risk report’ on me, the advisor suggested I essentially ‘put all my eggs in one basket’ by investing 100% in high growth. Australian Personal Finance: budgeting, saving, getting out of debt, investing, and saving for retirement. While the "plebs here" might not be as wise as you shitpost king, it's not as simple as that but one thing you might find interesting is the performance of other asset classes that Australian Super might use that outperform those equity index funds. Scott Pape's The Barefoot Investor is a fixture on bestseller lists.
CLICK THIS LINK to send a PM to also be reminded and to reduce spam. The Barefoot Investor was Australia's best-selling book in 2017. In a sector rife with conflicts of interest, Pape’s independence has become a key part of his appeal. "At the end of the day most people spend more time looking at their footy tips than their super fund. Best-selling author Scott Pape is on a Jamie Oliver-style crusade to boot the Commonwealth Bank out of schools and deliver his own financial program for kids. The COVID-19 pandemic's escalating second wave has forced British Prime Minister Boris Johnson to abandon his whack-a-mole strategy of localised lockdowns and plunge England into a month-long shutdown.
As for the future? Arsineh Houspian. The Barefoot Investor for Families is expected to deliver a similar bump to low-fee super funds like HostPlus, Sunsuper, First State, Media Super and, a … I feel Scott's point is that no-one can successfully predict the market over a long period of time; so if returns are going to be almost 'randomly' assigned (or at least, unpredictable) then that means all other things are equal and the lowest fee has the least drag. His contracts, including with the Herald Sun where he has a column, have long stipulated he will not recommend or endorse anyone or any company – that includes his time with Hostplus.
I left REST when I saw it’s fees.
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