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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Thursday, 27 February 2020

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Retirement

AustralianSuper hits customers with ‘Protecting Your Super’ fee

By Cameron Micallef · January 23 2020

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Retirement

AustralianSuper hits customers with ‘Protecting Your Super’ fee

By Cameron Micallef
January 23 2020

Reading:

AustralianSuper hits customers with ‘Protecting Your Super’ fee

By Cameron Micallef · January 23 2020

Reading:

The nation’s largest superannuation fund will introduce a new fee for MySuper members starting from April 2020 to offset the impact of the Protecting Your Super changes.

In a statement, AustralianSuper announced that members will pay an “administration fee - protecting your super” fee, which is a variable fee based on the member’s balance up to 0.04 per cent.

Based on the example provided, members with an account balance of $50,000 will be charged up to $20 between 1 April 2002 and 30 June 2002.

The new fee is in addition to the funds existing administration fee of $2.25 per week as well as an investment fee of 0.60 per cent.

The federal government’s Protecting Your Super package came into effect from 1 July 2019 and is designed to stop Australians’ super savings from unnecessary erosion by fees and insurance costs.

“This reduces the funds available to cover administration costs, products and services for all members. The new fee will be used to cover this gap in the most sustainable way,” AustralianSuper said.

The aim of the new law was to stop balances under $6,000 that are inactive from being eroded by unnecessary fees.

Under the new laws, balances under $6,000 will have an annual cap of 3 per cent a year, as well as exit fees being banned.

Super accounts with insurance and are inactive for 16 months will have their insurance cancelled.

“Balances of less than $6,000 at the end of the financial year that have paid more than 3 per cent pa in combined administration fees, investment fees and indirect costs, any amount above 3 per cent pa will be refunded,” AustralianSuper said.

nestegg recently reported that AustralianSuper balanced account was the fifth best-performing fund for 2019 and has been the second-best fund over the last decade.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.