Cyprus-Forum.com

[Paphitis]

If they are not, then why do Banks offer marginal loans against my share portfolio? They lend up to 80% so that is recognition by the Bank of the value of the portfolio.

Banks like the Commonwealth Bank which is a top 200 company on the planet with a market cap of $350 billion.

Do you think our Banks are stupid? This isn't Cyprus here.

These banks are major institutions and they know the stock market. In fact, this Bank runs CommSec which is their Securities Branch. This is where I trade shares at a cost of $17 per trade. This is how much they charge.

They trade securities as well through their managed fund brokers.

No you are the stupid one not the Banks. The banks know exactly what they are doing.
Go take a loan from the Bank against your portfolio in 2039 and you will see what happens. We will be sending you halloumia to survive by then.

Do they? They take secutity over your stocks.

If they go down, they can only go your security against that loan.

yes the Banks know what they are doing alright and they want their customers to do well. There super fund, whilst expensive also returns about 8% for the balance Funds and 12% for aggressive stock market funds. The Commonwealth Bank would be one of the largest fund managers.

The wealthier its customer base is, the more loans they can absorb and the more profit they will make.

Now, the stupid one is you who has absolutely know idea on how the stock market works.

I am proud to know the basics of how the stock market works.
And I pity you because you are basically a sucker who beleives anything they serve him ready on the plate. Don't complain that nobody warned you. When the time comes you will be eating shit wrapped in tortillas.

It has come and it has come.

And no regrets so far, just a lot of compounding interest and capital growth of about 12% per annum.

BTW, you can withdraw your super from 55. You can also withdraw to maage your own fund or trust - to buy a property or properties. The principle is the same. You can't withdraw from the rent, or use the money until retirement. You are only managing the investments which you own fully.

I have given you a warning. the pension system you think you will get in 30 or so years just won't exist. Therefore, cat food for you.

[Pyrpolizer]

You are NOT ALLOWED to get anything out of your Supers until you reach the age of 67! Fullstop.

I can get mine from Australia having left the country permanently.

My wife keeps nagging me to bring it over but I enjoy looking at the compounding interest...

You are an exception

If you are an Australian citizen, or a permanent resident, you can't take your super with you overseas. Generally, the earliest you can access your super is when you retire, or are taking steps towards retirement. You can withdraw your super if you meet these three conditions: ... You have left Australia.....

[Paphitis]

You are NOT ALLOWED to get anything out of your Supers until you reach the age of 67! Fullstop.

I can get mine from Australia having left the country permanently.

My wife keeps nagging me to bring it over but I enjoy looking at the compounding interest...

You are an exception

If you are an Australian citizen, or a permanent resident, you can't take your super with you overseas. Generally, the earliest you can access your super is when you retire, or are taking steps towards retirement. You can withdraw your super if you meet these three conditions: ... You have left Australia.....

Yes you can!

If I move to Cyprus permanently I can access my super in Cyprus. If I move to the USA, I can access my super. It is crazy to do so however.

They Australian Government will not hold your super. But if you return to Australia, they will not pay you a pension if you blew it and therefore must eat cat food.

You would be stupid to access the money. The money matures at about 12% year after year. This is an upward trend since 1992. there have been many corrections since 1992 but the average is still 12% year after year for aggressive stock market funds.

[Get Real!]

If I withdraw it my wife is gonna give me her sweet little puppy look and hold out her hand and I’ll just cave in as usual!

[Pyrpolizer]

Sure there are exceptions. The whole scheme is such to ensure what goes in is currently much higher than what goes out.
Remember my words Paphiti. By 2039 you will be crying!

Btw was that politician who introduced it of the same type as our Christofias

[Paphitis]

Sure there are exceptions. By the whole scheme is such to ensure what goes in is currently much higher than what goes out.
Remember my words Paphiti. By 2039 you will be crying!

No it's not. They tell you what goes in.

And I can assure you that what I put in is a lot less than the value of my fund presently. By retirement it will be well into 7 digits as well.

My fund compounds at 12% per annum.

My return is currently 12% plus 10K in tax credits every year. It is a system that was very much designed by Paul Keating to assist the Australian worker. Basically, I am saving about 10,000 in tax by salary sacrificing more money into the fund. That is a lot of money I am saving in tax every year.

It is a system that is also held with such high regard globally. Everyone says that Australia has set the standard.

By 2039, I will be on my yacht Pyro. Or flying around the world in my Beechcraft Moonee.

[Pyrpolizer]

Now if you excuse me I have some more advice for the honorable O.Poster.

Ripple in Peace hit the bottom low 3 times today at 0.4055. You missed your chance 3 times today Milti.
What kind of a speculator are you? BUY MORE will you.

[Paphitis]

Now if you excuse me I have some more advice for the honorable O.Poster.

Ripple in Peace hit the bottom low 3 times today at 0.4055. You missed your chance 3 times today Milti.
What kind of a speculator are you? BUY MORE will you.

You advising on Kolokasi growing obviously.

No one should be taking advice from you unless its about playing pilota or kolokasi.

And the share price is currently 0.442448 USD. Which is pretty good considering it just survived a correction.

[Paphitis]

If I withdraw it my wife is gonna give me her sweet little puppy look and hold out her hand and I’ll just cave in as usual!

I wouldn't do that especially if you don't need the money.

A bit of discipline will pay off for you and your family.

[Pyrpolizer]

Now if you excuse me I have some more advice for the honorable O.Poster.

Ripple in Peace hit the bottom low 3 times today at 0.4055. You missed your chance 3 times today Milti.
What kind of a speculator are you? BUY MORE will you.

You advising on Kolokasi growing obviously.

No one should be taking advice from you unless its about playing pilota or kolokasi.

And the share price is currently 0.442448 USD. Which is pretty good considering it just survived a correction.

Is that what your father was doing when he was in Cyprus?
Nice to see his genes passing on to a son with as much brain as a kolokasi