Dear %%first_name%%,
The leaders of Europe kick-off their two-day summit in Brussels today, and global markets are holding their breath until they hear what comes out of it. The politicians are spruiking ‘decisive action’, and I hope that’s what we get. But this is Europe we’re talking about and that’s why I’ve got euro-anxiety, as I explain in today’s note.
Also in the Switzer Super Report, Charlie Aitken’s team at Bell Potter Securities have stepped in until he returns next week to provide some stock recommendations, including one very interesting speculative buy. Plus we take a look at the cheap resources sector, explain how to boost death benefit payments, and look at the new-age paperless SMSF. I hope you find today’s report useful.
Sincerely,
Peter Switzer
Watch out if you're planning any last minute BPay payments to your self-managed super fund intended for this financial year because the delay in processing these transactions means your transaction likely won't be recorded until next financial year. This could potentially push you over your non-concessional contributions cap of $150,000 in 2012/13.
If you need to make a transaction urgently, you should contact your financial institution first and see if they can help you.
Term deposits
Term deposit rates have fallen significantly in recent months, but you can still lock in returns of over 5%. According to the Switzer Super Report interest rate table, Teachers Mutual Bank has a three-month term deposit at 5.10%, while UBank is offering 5.11% for six months and RaboDirect, 5.12% for one year.
For a complete comparison table, please visit the Switzer Super Report website.