G'day:Anyone out there willing to help a Rank Beginner Fool? I'd like to know if the "Foolish Four" have been applied to the ASX.Also, if an IRA in the US is a good vehicle for reduced tax investing, is the super the best thing in Oz?Thanx Fellow Fools
G'dayGot to say that I second your queries. I have been wishing for more Motley coverage for us here in the land of sunshine ... Or is there some other place on the 'net where all the 'locals' hang out ?
Hi EveryoneHere are the answers to your questions ?No the fools aren't here. i wrote to the fools and the head of TMF UK wrote back saying one day but resources are a bit stretched as they are launching in Germany.They will evaluate before coming here.IRA's Vs SuperannuationThe difference is that an IRA is limited to $2000 after tax per year. The equivalent to our super is the 401K but instead of financial firms in charge of your money, you can invest directly in stocks or invest in your mutual funds. It's up to you.
SydneyGirlLooks like we are out here allright...even when we are speaking on the same board...All the other missives I've been seeing relate to buy/sell "hotstocks".For some of the basics, the book "The Motley Fool Investment Guide" has certainly started me thinking. Since I am just beginning, I imagine that the other guys on the chat have already run their respective "Foolish Four" or "Eight". I have actually had more response directly from Fool.com in the US. They are not much help for the ASX, however. After all, it is only 2% of the world's markets.I am going to set up a phantom portfolio using the ASX top ten and see how I go...will keep you posted.See ya...MelBradley
There was some considerable discussion about the foolish four last year. Read posts 322 430 478 for a start. I wasn't lurking on the boards for a while so there may have been more posts.
Thanx...Just getting a late start is all...
G'Day,Greeting from down-under.I dont know how IRA in US works. Super used to be a good thing in the past at this stage I am not sure how it is. The way super works is the employer pays a fixed amount towards your super and at this stage it is fixed at 8% of your salary. Apart from this you can make your own contributions towards super. How much you can put depends on your age etc eg., till age of 40 Years the max money you can put in super is 30,000.Now if you are earning more than 50,000/- then you fall into the high tax bracket ie., 48.5% tax plus you pay for medicare levy etc.The money you put into super gets charged at 15% only upto a salary of 70,000/pa and goes up by 1% for each thousand, so if you are earning 90,000/pa you pay 48.5% income tax but if you make some contributions to super then those contributions gets chaged at 30% so the real tax saving is only 15% on a small amount only(since the max contributions is 30,000 only)Again when you retire and get your super there are different rules, taxes etc.Hope I have not confused you more.
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