Running your own self-managed super fund has many benefits. But unless you have a high degree of SMSF and investment knowledge, as well as plenty of time available to manage your fund, you’re likely to need some professional help. Here we look at the factors you’ll need to consider before you choose a provider.
SMSFs for beginners
In this section you can learn the fundamentals about self-managed superannuation funds (SMSFs). The following articles are our key features explaining the basics about SMSFs:
See also SuperGuide's main SMSFs section.
Set out below are all SuperGuide articles that relate to SMSFs for beginners.
SMSFs: What advice can your accountant provide?
While many SMSF trustees turn to their accountant for assistance, they can only provide advice on some SMSF-related matters. To help SMSF trustees navigate this tricky area we’ve compiled a checklist to help you work out if your accountant is the right person to ask for help.
What are the key differences between SMSFs and public offer funds?
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.
What is a self-managed super fund (SMSF)?
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.
SMSF statistics: 1.1 million members with $747bn in super
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.
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Guide to SMSF audits
SMSF trustees are legally obliged to have their fund audited by an independent SMSF auditor to ensure their ongoing compliance with Australian super legislation. The ATO can impose a range of penalties for non-compliance, depending on the seriousness of the breach.
Quiz: SMSFs for beginners
Take the following 10 question quiz to test your knowledge on the fundamentals of self-managed super funds (SMSFs).
Fund Performance: SMSFs vs APRA super funds
A common argument put forward against individuals starting a self-managed super fund is that budding SMSF trustees could lose their hard-earned super savings through inexperienced investing, and bad investment decisions.
Real DIY super: Ways that SMSFs can be ultra low-cost
Self-managed superannuation funds are often referred to as do it yourself funds or DIY Super. But how DIY can they really get? It it even possible to do everything yourself and if you were, how significant would the savings be?
Which asset classes are popular with SMSFs?
Which investments are most popular with SMSFs? A short and simplistic answer is that shares and cash and term deposits compete as the most popular investments across the board for SMSFs.
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What type of people have SMSFs?
According to the latest ATO statistics, more than 1.1 million Australians are members of SMSFs. This article looks at the most common characteristics of SMSF members.
SMSF investment rules: What every trustee should know
An SMSF is a very attractive superannuation savings vehicle but it also comes with plenty of responsibility for anyone that signs up to being a trustee.
How super works: A beginners guide to superannuation
Simply put, superannuation is money you put in a super fund while you are working to provide income later in life when you retire.
How to create an SMSF investment strategy (including examples)
Self managed superannuation funds are required by law “to formulate, review regularly and give effect to an investment strategy.”
Is it possible to have two SMSFs at the same time?
Australian super legislation allows you to establish and run a second SMSF, but it’s important to understand the potential for downsides as well as benefits.