"I wonder how many self-managed retirees have blown their...

"I wonder how many self-managed retirees have blown their dough?"

I reckon heaps would have @Dark Doofus

We started our SMSF about 10 years ago - mostly to save on tax.

We've chosen to invest ours in property, creating passive income for retirement (when we get there) while still holding core assets which "should" appreciate in value over time. (So far, so good) Buying property is like buying shares though - you have to time your entry right.

I just keep a separate set of books for SMSF (Income & Expenses) along with Bank statements & Property Manager statements.
I hand them to the Accountant each year and he does the rest. Tax Office send me a PAYG bill each quarter, and that's it.
Quite simple really - no stress at all.

I don't trade shares with my super.