Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we explore the world of self-managed super funds (SMSFs) and ask the big question: should we have one? We unpack the essentials — what an SMSF is, how it differs from regular super funds, and the pros and cons of managing your own fund. We explore the control and flexibility that come with SMSFs, including the ability to invest in assets like property and collectibles, but also the responsibilities, risks, and higher costs that follow. From setup fees and compliance obligations to investment strategy complexities and retirement planning, we cover why SMSFs might suit some of us — especially with larger balances or specific goals — but not all of us.
Tune in now to find out if managing your own super fund is the right move for you!
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of Akumin Financial Planning – AFSL 232706
Episode Highlights
How to get over that fear and how to move forward
Importance of recognizing the need and asking questions as a good start
The power of knowledge
Take into account your tolerance to risk and comfort levels
Ensuring to pass the "sleep test"
About the benefits of compounding and the need to stick to a strategy
Pay attention to your investments, but don't become obsessed
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