Tuesday, September 09, 2008

Increasing Regular Savings Plan

I'm increasing our regular savings plan into Snork Maiden's account with Colonial First State to $(A)400 a month from $300 per month. She just got about $165 per month extra take home pay due to the reduction in taxes and promotion by one "increment" (In government jobs here, each rank has a number of pay increments and each year you progress by one step until hitting the top pay for your rank. To go higher you then need to apply for promotion). This is now about 10% of take home pay. Of course, an additional 15.4% of gross pay - an employer contribution on top of salary - is going into her superannuation account. The ingoing funds will be allocated as follows:

CFS Geared Share Fund: 23% (Leveraged investment in large Australian companies)
CFS Global Geared Share Fund: 20% (Leveraged investment in global shares)
Souls Australian Small Companies: 15%
Platinum International: 10% (Global long-short fund - Australian manager)
Acadian Global Long-Short Equity: 10% (Global quantitative long-short fund - US manager)
Generation Global Sustainability: 10% (Al Gore's fund)
BT Property Investment: 12% (Mainly Australian REITs)

This is the same as our original plan with the addition of REITs. I still need to add a remaining $4,000 of the $8,000 seed investment that was originally planned. I will, as I receive distributions from my own funds.

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