Comments for Business Podcasting Blog http://businesspodcastingsecrets.com A Business Blog Tue, 07 Sep 2010 23:57:52 +0000 http://wordpress.org/?v=2.6.3 Comment on Share Price Fluctuations Leaves Many Retirees Uncertain by John La Renard http://businesspodcastingsecrets.com/index.php/2008/12/share-pricestock-market-fluctuationsturmoil-leaves-many-retired-australiansretirees-uncertainunsure/#comment-57 John La Renard Sat, 24 Jan 2009 23:25:31 +0000 http://businesspodcastingsecrets.com/index.php/2008/12/share-pricestock-market-fluctuationsturmoil-leaves-many-retired-australiansretirees-uncertainunsure/#comment-57 Like many self funded Australian retirees the value of my investments in my Super Fund have declined by more than 50%. At 76 the rules for my Superannuation Pension compel me to pay myself 6% of the balance of my account as at July 1st of each financial year rather than 6% of the current value. This in effect requires me to pay myself an amount that is effectively greater than 12% of the current value and to sell quality shares at a time when the market is severely depressed, further adding to the pain. I can live with a lesser amount, possibly just the dividend payments and anticipate that eventually the market will recover and I may yet be able to avoid long term dependence on Government support. However, if I am compelled to sell quality shares on the current market I will exhaust my funds prematurely and will be an increasing burden on the Government, rather than self funded. My antecedents have all lived active lives into their late 90’s so at 76 I expect to be looking after my own affairs for at least another 20 years. I wrote to both PM Rudd and Treasurer Swan in November asking if there is anyway that people in similar circumstances can be granted relief from this harsh requirement? Almost three months later I still have not receive acknowledgement of my letters. I understand that there are penalties for failure to comply. Are we to be punished for our efforts remain independent? Like many self funded Australian retirees the value of my investments in my Super Fund have declined by more than 50%.
At 76 the rules for my Superannuation Pension compel me to pay myself 6% of the balance of my account as at July 1st of each financial year rather than 6% of the current value.

This in effect requires me to pay myself an amount that is effectively greater than 12% of the current value and to sell quality shares at a time when the market is severely depressed, further adding to the pain.

I can live with a lesser amount, possibly just the dividend payments and anticipate that eventually the market will recover and I may yet be able to avoid long term dependence on Government support.

However, if I am compelled to sell quality shares on the current market I will exhaust my funds prematurely and will be an increasing burden on the Government, rather than self funded.

My antecedents have all lived active lives into their late 90’s so at 76 I expect to be looking after my own affairs for at least another 20 years.

I wrote to both PM Rudd and Treasurer Swan in November asking if there is anyway that people in similar circumstances can be granted relief from this harsh requirement? Almost three months later I still have not receive acknowledgement of my letters.

I understand that there are penalties for failure to comply. Are we to be punished for our efforts remain independent?

]]> Comment on Exciting Mumbai: Home of Bollywood by Joyce http://businesspodcastingsecrets.com/index.php/2008/12/bustlingexcitingprovocativestimulatingsprawling-mumbai-home-of-the-bombay-stock-exchangebollywoodindias-commercial-heartasias-oldest-stock-exchangethe-busiest-railway-station-on-earth/#comment-18 Joyce Tue, 30 Dec 2008 03:30:24 +0000 http://businesspodcastingsecrets.com/index.php/2008/12/bustlingexcitingprovocativestimulatingsprawling-mumbai-home-of-the-bombay-stock-exchangebollywoodindias-commercial-heartasias-oldest-stock-exchangethe-busiest-railway-station-on-earth/#comment-18 I recently came across your blog and have been reading along. I thought I would leave my first comment. I don't know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often. Joyce http://www.videophonesguide.com I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.

Joyce

http://www.videophonesguide.com

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