Time to get con­trol of yourMoney

The Sunday Telegraph (Sydney) - - NEWS -

THE cus­tomer is king: that's the good news af­ter the har­row­ing bank­ing royal com­mis­sion.

And it’s good tim­ing for Mon­day’s launch of new busi­ness chan­nel yourMoney, fea­tur­ing ex­pert re­porters in­clud­ing Ticky Fuller­ton, Brooke Corte and Adam Creighton, who have all ap­plied wis­dom gleaned on the beat to their own fi­nances.

“There’s a shift afoot at all lev­els of gov­ern­ment and busi­ness to­wards putting the cus­tomer front of stage,” said Fuller­ton, who has ploughed her pay into the fam­ily home and doesn’t play the mar­kets.

“I’m al­ready in­vested in shares in quite a big way, thank you very much, through the com­pul­sory su­per­an­nu­a­tion I pay every year,” she said, pre­dict­ing re­tail su­per funds will re­spond to the bol­lock­ing by re­duc­ing fees.

Fuller­ton thinks a first home is a cru­cial in­vest­ment, but “I’m not so sure about the third and fourth house be­cause it leaves you vul­ner­a­ble to changes to neg­a­tive gear­ing if La­bor wins the elec­tion.”

Creighton, The Aus­tralian’s eco­nom­ics ed­i­tor, has just bought his first home — at the top of the mar­ket — but has no plans to move.

He wants all of us to ex­am­ine our su­per state­ments to be sure we aren’t get­ting fleeced.

“If the an­nual fee is any more than one per cent, that’s crazy,” he said. “You should be in a fund where the man­age­ment costs as a per­cent­age of your amount are about 0.5 or 0.6pc.”

Ticky Fuller­ton, Brooke Corte and Adam Creighton. Pic­ture: Sam Ruttyn

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