Reply to Anonymous

I am interested in your ACR account, what exactly is that?

- curious investor

Well, first of all. If you remain anonymous, how can I reply to your query. But I guess I can in a way, by posting the answer here. ACR is just another managed fund. Works like term deposit. For deposit 20,000 +, they offer 8.0% per an and 8.5% for 3 years (regardless of market inflation / deflation)

In comparison to ING's variable interest. Which is 5.4% before now up to 5.65% due to market growth. Variable interest is better than locked in rate sometimes. One of my many goals before I reach 30 is, have 100k+ in bank, shares and funds. But even 100k would only yield around 10% a year in most cases.

I used to think if people have 40k a year, it's easy to save 20k a year to your saving account. But how wrong I was, when I receive my first pay cheque. You might only get 32k (in cash) the other 8 goes to tax. No wonder CASH is still the hardest current. So many taxes, start to realise why news paper use Tax Payer, Tax Payer all the time, to trigue our nerves.

"It may cost Tax-Payers million for Mr. Woods operation ..." It makes public feel that they are paying 'quite directly' to Mr. Woods operation. The difference is, if government over spending in China, people wouldn't care that much, maybe because the low Tax Rate, but here, anything!

"News flash: *** Council spent $800 on photoshoot council members portrait. Ms. *** is not happy with the shoot, spent an extra $200 for another shoot. (using Tax Payer's hard earned dollars)." You know all those ... in a way, it's good that pressure the government doing the right thing... ...