Hi trendee, I think it's important to consider an SMSF in comparison with a 'public offer' alternative, given that SMSF requires additional work and compliance / management risks. It comes down to how much you CAN do as opposed to what you THINK you can do.
A decent wrap-type superfund can provide relatively low administration costs (get cheaper as $ grows) and low compliance risks (economies of scale). You can generally have a pretty broad range of direct shares, TD's, managed funds etc. Essentially you are outsourcing a lot of these tasks and it may / not be directly available to you so you may need to use a middle person to access and trade on, the platform.
Pros are varied per individual but generally compared to above, if you want to: have more control, reduce costs, happy with your own ability, have relatively low cost of your own time, happy to seek advice / outsource if need to, want to buy a property, family estate planning purposes, want to access / use investments not otherwise available, it suits your business accounting affairs to be able to change the contribution levels after 30 June etc. The list goes on.
I probably don't take too much effort but I have had exposure to super rules for a number of years and have a good understanding of how things work. My Accountant does tax return (based on my data/info) & arranges audit and is fairly low cost but I'm happy to pay them if I need their advice.
I hope this helps.
- Forums
- General
- living off super
living off super, page-35
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online