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Going Backwards

So one of the things that showed up in the bundle of mail I received on the weekend was the annual statement from my Superannuation fund. In Australia there is a compulsory scheme, where part of your salary is stuffed into a super fund, locked away until you retire (or die). This has made a lot of people very angry, and a very small number of people very wealthy, and is probably indirectly responsible for the obscenely high rents in most of the major cities.

Then there’s the insult on top of the injury: my money that they claim to be carefully invested lost somewhere over $8,000 in the year. And they charged me a bit over $1,000 to carefully manage my funds backwards. Any other business would be out of business if they tried that, but the Super funds are hallowed, sacrosanct and politically immune.

Let’s just say that I intend for the fund managers to be first up against the wall when the revolution comes.

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