Self Managed Super Fund
Hi Scott,
Love your emails! My husband and I are looking into an SMSF. Is there anyone you would recommend to set this up? I was looking at ESuperfund -- they appear to make the administration side easier. Our plan is to purchase a small positively geared investment property and hold some cash in a higher interest online savings account in our SMSF. As our industry funds have insurance, we were thinking of still having our super deposited from work into existing super funds. Thoughts?
Mel and Trent
Hi guys,
I know it’s very un-Astrayan of me, but I don’t think buying a property in your SMSF is a particularly bright thing to do. First, because of the costs of borrowing in the super fund, second because of the current price of houses in most parts of the country, and third because if you own your own home you’re already overexposed to residential property.
Other than that, you guys sound smart: locking in low-cost insurance with your industry fund is a good idea. I’d stick with them and invest in shares, which historically have outperformed property over the long term.
Scott