The recent failures of investment schemes First Guardian, Shield Master Fund and Australian Fiduciaries has exposed thousands of investors around Australia to something they should never have to experience in modern investing: a catastrophic and substantial investment loss of their retirement savings. In our 45 years in business we’ve never had an investor exposed to an investment failure, and there have been plenty occur in Australia over that time frame.
However, we have had many investors walk into our office over the years, seeking advice and guidance after they’ve been exposed to investment loss by someone they should have been able to trust, or just via their own hand. In that respect, we have an understanding of the turmoil investors are currently going through.
Unfortunately, while we’re able to point people what direction to follow next, we’re unable to turn back time, and it’s prevention that stops these losses happening. Usually, it’s by not exiting large and well known superannuation options, for untested, newer funds, that cannot guarantee what their spruikers promise.
In this episode we discuss what’s happened and how investors can protect themselves. We all need to remember these our retirement savings, and financial loss is something that is incredibly hard to recover from in mid and late life. While we want to make the most of them, and are regularly pushed to take action by the media, if we don’t know anything, leaving them alone to grow at a market rate in a large, well known fund will inevitably be better than switching to an untested option that may expose us to catastrophic loss.
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