I'd like to move a portion of my super into cash holdings, and I really like my super fund, but they don't have a cash option.
Was wondering what super funds have a cash option and what are the best?
Why am I asking here? Because I'm guessing that plenty of Ozbargainers have looked for a reliable cash super option.
Out of curiosity why do you want to move some into a cash option? Are you close to retirement age?
I'm considering it too..
Market is high but the fundamentals dont stack up. The nation (and the globe) is in recession… at some stage reality must hit home and the market will crash.
I think the market is going to plummet so I'd like to hedge a % in cash or gold.
The ASX200 is still down 15% on pre COVID, you think it will drop further/again?
It may well drop further but my personal situation is that I am no where near retirement so I’d rather just leave my super alone - sure it may experience some losses in the short term (and already has) but it will recover a long long time before I retire.
I'm thinking a bigger drop. like 75% from the top.
You're not hedging if you move your funds to cash. We can thank inflation for that.
Holding gold is one way to hedge against market volatility. There are also stores of value that may have a higher ROI.
any particular reason you are wanting cash instead of government bonds? I mean if Australian Government Bonds collapse I think you will have bigger concerns than your super.
Australian bonds isn't worth the paper it's printed on.
https://www.bloomberg.com/markets/rates-bonds/government-bon…
I've been wondering about moving some of my super to cash. The reason being is that I have $25k sitting in there as part of my First Home Super Saver. I don't plan on buying anytime soon (3+ years?), and I am worried that the market will drop and I will eat into my actual super funds to when I go to buy a house.
I think that moving the house deposit part of your super to cash would be a prudent decision in the current market.
CBUS have a cash option, although it may be a little too late to move to that option, most of the damage has already been done.
A professional adviser may assist with more specific to you information.
THe cash option will track the RBA rate which is next to nothing. Some funds offer term deposits which are much more attractive; I do that through HostPlus and AustralianSuper offer it too.
I'd talk to your existing super fund, I'm sure they would offer many variables of low risk (cash) options like fixed interest and govt bonds.
I'd like to move a portion of my super into cash
Why do you want to move your funds into cash?
The buying of FIAT over the last 20 years has dropped by 62% or an average of 3.1% per year.
Australian Super