why paul keating is dead wrong, page-4

There is nothing to stop people from contributing extra to their super. Nothing at all.

Super has a lot of drawbacks. Its a money making scheme for all sorts of spivs and I am not sure it is good for people in general. It certainly hasn't been good for me.

They keep saying, invest in super when you are young. Well I was forced to invest in super when I was young. Forced me to delay buying first home, cumulative cost me a FORTUNE, much more than I ever made on the super growing at a lousy 4% a year or so. Its a joke.

Then at the other end its a lotto. Pay heaps for an annuity and then die - kids get nothing. Or forgo the annuity and then run out of money if you are lucky enough to live over 85.

Diversification is the key. Some super, and some non-super, investments.

Keating's plan to force everybody to put all their eggs in the super basket is fascisitc and DEAD WRONG.