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No. of Recommendations: 1 !!!!!!

Fellow cobbers

Want to make some real dough?

Then you're going to have to go and play where the real cash is ....NASDAQ.
How to do?
Where to get the funds to play?
Read on , fellow fools , for here is a tale of interest to all.....

At the age of 47, with a mortgage, 3 kids at University/High School and with mounting bills, mortgage etc etc, six months ago I found myself on a potential downward spiral of cashlessness which seemed to stretch out onto the horizon, with no chance of change.
No matter how much I earned at work, there were always more bills to pay. They say that the requirement for money expands at a rate slightly higher than the capacity to earn it.

What to do ?

Extrapolation of my super fund using common rates of return (5-15% pa), showed that I would most likely die working - so long would I have to wait to have enough cash.

The solution :

1.Establish your own super fund : cost about $500.This takes just a few days.
2.Roll over the contents of your (fat boy lunch) mutual or company-mandated super fund to your complying super fund (your employer CANNOT prevent you doing this). This may take a couple of weeks, depending on how slack the superfund administrators are.
3.Open a US trading account in your personal name with one of the respected brokers advertising within this site. This involves filling in a form online, printing it out, signing it and posting to the US. This takes about 2 weeks.
4.Minute a meeting of your superfund trustee s (you) whereby the fund empowers the trustee (you) to act on its behalf in matters relating to financial transactions of the fund (cover your butt).
5.Wire your cash from the super fund to your personal account in the US account.Your bank will have no problems with this if you show them the signed minute (covers their butt). This takes about 2 days to clear.
6.Work out when you want to retire and with how much money using the excellent calculators herein.
7.Get trading in the appropriate way in a market where the composite index fund has risen 84% this year. Either that or into a Dogs of the Dow play, or whatever takes your fancy.There are more ideas in this site than you can poke a stick at.
8.Tell all you friends and acquaintances about what you've done.
9.Congratulate yourself. You have just moved the burden of future financial independance from yourself and the money-laundering joke-on-two-legs 'professionals' to the world's lagest money machine.
10.RECOMMEND this message as I think everyone deserves to read it.
11.Post to this board to let me know you've done it. I will answer any questions you have.

easy, eh?
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No. of Recommendations: 0
This might work for you or it might not.
This will work if you are lucky enough to pick the right companies to buy. What happens if tech stocks crash in 3 months - your $80000 that was earning 5 to 15% suddenly becomes $15000 earning nothing.
It is my opinion that this advice is too risky. There are other ways of raising the earning potential of your company super without putting all of your nest egg into one of the most volatile markets in the world.
Personally I have just transfered my boringly performing super into a master trust to give me a choice of about 80 super funds.
If you wanted the more do it yourself approach you could set up your own fund like Harrythedog suggests but you don't have to put it all into Nasdaq or even individual shares which need to be constantly monitored.
There are a lot of good unit trusts and other share funds out there which have earnt 60 to 100+ % in the past year. The big question is- Will it continue?
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No. of Recommendations: 0
I would not recommend your post as you are basically ignoring what the law says in Oz.

If you feel that this is the way to go I would recommend that your principal abode is out of Australia as I can see a number of concerns in both countries IRS, ATO (international tax arrangements).

Hey - by all means try it, yet me feels that you do not know how far that IRS arm and the ATO arm can stretch! Your pain will be nothing until you loose everything!
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Funny reading your advice - just what I thought - except I don't know whether tranferring money to the $US is the way to go & also concerned about exchange rate fluctuations - any idea on this ?
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