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The downside in Australia is that the great majority of less-financially-oriented people put their money into 'super schemes' which are designed to swindle you
by twelvechairs 15y ago
The downside in Australia is that the great majority of less-financially-oriented people put their money into 'super schemes' which are designed to swindle you and on average give you a worse return for your money than just leaving it in a bank (without even accounting for the excessive fees and charges).
- tankenmate 15y agoTrue, most managed funds are a rip off. I remember many eons ago in my first job out of school, I worked at a factory. The company selected super fund sent some peons out to brief us about our fund, but we just shredded them by asking common sense questions. The peons were obviously PR people who had no idea about investment and were hoping that some four colour glossies would keep us happy.