My Super balance has been increasing steadily:
30/6/2011: $69,569
30/6/2012: $84,405
30/6/2013: $95,057
30/6/2014: $ 116,600
30/6/2015: $139,253
30/6/2016: $207,426
30/6/2017: $228,875
Currently above $240k
Needless to say I am very happy with how things have gone, but I set myself a goal of setting up my own SMSF once I hit $250k. Interested to hear what people think is the minimal working balance. I can't get any one else to join a SMSF with me because I am too high risk for them. I am with Australian Super, Members Direct. Choosing my own shares in the ASX300, totally happy with the service for such low cost, but feeling really restricted in what I can invest in.
I went in with my Dad when he set up his own SMSF, so I know the drill about how to set up a fund etc, but feel the effort is worth it, as long as the costs can be borne in case I have a couple of off years.
Should I increase my target starting size for a SMSF, or go for it. Interested to hear your thoughts.
I have shares and investment property outside super, not wanting to tip more into super seeing as I am 43 with years of Private School fees for my Daughter ahead, etc, etc.
