Starting an SMSF
If you’re someone who likes to be in control of your investments, or you’ve have had some prior experience in investing (or are willing to learn) and don’t mind spending a couple of hours on a regular basis looking after your own affairs then an SMSF is worth considering.
In addition to the usual types of investments, SMSFs also suit investment in residential and commercial property and other assets unavailable in public offer or industry super funds. Reasons for thinking an SMSF might be for you include:
- I want to be in control of how my money is invested;
- I’m interested in residential investment property;
- I want my business premises to be owned by my super fund;
- I want to use my super fund to invest in a private unlisted investment;
- I prefer share investing and I think my stock picking abilities are as good as the professionals;
- I don’t like paying any more in fees than I have to; and/or
- Asset protection is important to me and my family. I need to know my investment assets are as safe as they can be if something goes wrong.
- Some of my friends talk about their SMSFs at social events and I want one because I feel left out;
- I’m not very good at keeping records;
- I want to use my superannuation to buy a family holiday home to use on the weekends;
- I was encouraged to start an SMSF by my professional adviser. I’m not dumb but the reasons didn’t seem to stack up.
Charter Financial Planning, ABN 35 002 976 294, is an Australia Financial Services Licensee
Licensee Number 234 665. Principal Address: Level 9, 750 Collins Street, Docklands, Vic, 3000.
Charter Financial Planning is a principal member of the Financial Planning Association.