But those same banks reckon it's not risky, but a safe and resposible way way to manage your Super, by locking away some money in your SMSF for 5 years! lol rofl
In a full page daily newspaper advertisement today by one of our major banks I read the following:
"Right now we can even show you how you could earn a guaranteed 6.8% p.a. on a five year term deposit in your self-managed super."
In my opinion that looks like a pretty risky investment.
Why have no flexibility to do anything with your cash for 5 years? Apart from the minimal capital growth - will there even be a real return after 15% tax plus inflation? How do we know that 12% interest might not be available in 3 or 4 years?
