She's On The Money The Secret to Managing Your Super — And It’s Not an SMSF!
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Oct 22, 2024 Forget the hype around Self-Managed Super Funds; they may not be worth the effort. Discover why traditional super options might be a better fit, minimizing compliance headaches. Explore the gender disparities in superannuation savings and the importance of expert management. Learn practical steps for financial empowerment, including understanding your super and reclaiming unclaimed funds. Plus, uncover simple strategies to take control of your financial future without the stress of managing an SMSF!
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What An SMSF Really Means
- An SMSF gives you far more control but also places legal, tax and admin responsibility squarely on you.
- That control matches high-net-worth strategies but is unnecessary for most people.
Vintage Cars Inside An SMSF
- Victoria shares a client story who ran a vintage car business inside his SMSF and profited from flipping classic cars.
- The setup worked because he was wealthy, skilled and built infrastructure to lower his costs.
Don't Jump Into An SMSF Without Scale
- Avoid treating an SMSF like a fee-free DIY shortcut because set up and compliance costs add up quickly.
- ASIC recommends having roughly $500,000 in super before considering an SMSF to justify costs.