SMSFs can cost a bit to set up, but the latest research shows they quickly become cost effective to run.
Tracey Spicer talks to Deborah Kent from Integra Financial Services about the pros and cons of SMSFs, and how ethical investing is becoming more popular.
The number of SMSFs in Australia has continued to rise in recent years, along with average individual member and overall fund balances. The majority of SMSFs have been operating for more than ten years and have corporate trustees, with this structure becoming very popular since 2015.
SMSFs are now firmly embedded in Australia’s superannuation system, so what type of people are attracted to running their own funds?
It may seem like everyone who’s anyone has a self-managed super fund (SMSF), if some financial advisers and property spruikers are to be believed. Yet the reality is that just 4% of Australians have one.
Self-managed super funds are still growing both in number and in assets. Yet, despite the popularity, the average trustee of an SMSF has only a vague understanding of the difference between those funds and public offer funds, which include retail funds and industry funds. Here, Noel Whittaker clarifies the differences.
An SMSF is a private super fund you manage yourself, giving you more control over how your retirement savings are invested. We look at how they work and some of the benefits and drawbacks of going it alone.
Having your own SMSF can be a rewarding experience, provided your fund is set up correctly from the get-go. Here are the nine steps required to get your SMSF up and running.