Thanks for the various comments in here that go to addressing my...

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    Thanks for the various comments in here that go to addressing my question.

    Missives on what university he goes to, or whether he should be working at all instead of studying 100% of the time, or whether you need insurance or not, are irrelevant. These are personal informed choices, not ones anyone on here can second guess, let alone assume to advise on.

    Even though I have had a lot of experience in super, I just wanted to make sure I wasn't missing anything. The bottom line is, other than, say, an SMSF membership, the Government has guaranteed that any small amounts of super earned actually go straight to the super industry's profit. The smallest annual fee I can find is about $160pa (plus, plus, plus!), the average "MySuper" fee about $350pa, meaning kids lose any super on the first $1705 to $3,685 they earn. This must be a huge load of money being essentially stolen from kids who are encouraged to start super early. Pretty much legislated theft.

    Interestingly enough, up to about 2013, small account holders were protected, but the super lobby got to the govt and changed that on the argument that large fund holders were subsidising small holders (a fair point). I would've thought the obvious answer was a straight conforming bank account but, hey, that's too simple!

    Thanks again.
 
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