Sack,I'll rule out the options one at a time and leave you in...

Sack,

I'll rule out the options one at a time and leave you in the same mess you started with.

With <$10,000 in capital it is difficult for an SMSF to generate returns sufficient to cover:
- admin and or audit fees; and
- ATO supervisory levy;
- inflation.

SMSF? Hard to get positive returns.

Many of the major banks offer retirement savings accounts. They do not offer much interest at the moment, but there are no admin costs to my knowledge. I think the rates at the moment are about 2.5%. This barely covers inflation (which, thankfully, is falling).

Retirement Savings Accounts? Ha!

What your friend needs is the Epsilonminus Superfund. For a fixed fee (100% of your investment up front), we can immediately reduce your superannuation benefits to zero and book you a bed in a homeless shelter. We take away decades of worry about dwindling super balances.

Hope that helps.