| Stay cool in a volatile market
IT'S been a terrible start to the year for super fund members. The sharemarket bears have taken a swipe at retirement nest eggs and stolen the financial- year-to-date returns for some members and even the entire 2007 earnings for others. And it's only January. But the experts aren't just spouting rhetoric when they say don't panic. Members have got time on their side, lots and lots of time – and four years of double-digit returns to fall back on. But, even for those who are not sweating, 2008 does look like being a difficult year for super trustees to make money for their members. Here are some tips to keep you on track: I will not be afraid to hold cash (and lots of it). It's not often that it happens, but every now and then holding large wads of excess cash in super can be a good idea.
Michael Sharp from Victoria BC, Canada writes:
Goodale, fooling no one, says, "We will decide as the official opposition when we think the time is appropriate to bring the government down. When that time arrives, we will in fact do that.&8221;
Read: if we went into an election now, we would be slaughtered.
The LPC have decided it would be inappropriate to be slaughtered now, so they have chosen to be slaughtered later.
It's called borrowed time. Posted 31/10/07 at 1:05 PM EST | Link to Comment .
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Otis Federal Credit Union: As strong as its members
In April of 1954, Otis (Division) Federal Credit Union was formed to provide financial services to paper mill workers in Jay, Maine. It was started with 11 members and $55 dollars in assets. By the time of their first annual meeting in January of 1955, membership had grown to 261 members and $9,000 in assets. According to the recently rediscovered minutes of that first meeting, the treasurer was to be paid $250 over the course of the year for expenses and salary and the board of directors had the discretion to cut that amount if needed.
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