T he past few years have been extraordinary in terms of economic downturns, volatile investment markets, and the ensuing bumpy ride endured by investors, including DIY super fund trustees.
Throughout this time, hundreds of thousands of DIY super fund trustees have been investing super money in these volatile markets, and continuing to look after the needs of fund members.
In June 2014, when I began work on DIY Super For Dummies, 3rd Australian Edition, the investment markets were rebounding from a torrid few years, although by the time I finished writing this book several months later, the investment markets were again a little bumpy.
More seriously, in mid-2007, when I first met my publisher to discuss writing the first edition of DIY Super For Dummies, the world’s investment markets were booming and Australia was enjoying an extended wave of economic growth. The super laws had just been changed to deliver tax-free super for over-60s and, as a result, the future was looking very bright indeed for Australia’s retirees.
In October 2008, less than 18 months later, when I actually started writing the first edition of DIY Super For Dummies, the world’s investment markets had imploded, and the international community was facing what has become known in Australia as the Global Financial Crisis — GFC (I explain what happened during the GFC in Chapter 14).
While in June 2011, when I began work on the second edition of DIY Super For Dummies, the world’s investment markets ...