Alison Greenwood offers her advice about self managed super funds, which lots of people consider during their 40s, often when a household has two full-time incomes.
This interview follows the chat Alison had about securing your family’s financial future. You can access that interview
Show Notes – Self Managed Super Funds
- Lots of people consider switching to Self Managed Super Funds because they have heard they are a cool thing to do – but there needs to be a much better reason than that.
- Alison warns that they can be a LOT of work.
- You can buy direct property, and you can often use borrowings against that property. But the rules are getting tougher.
- Other people want to start a business, and there are benefits, especially if you are looking at buying a business property.
- Sometimes people ask to take advantage of direct shares and term deposits. They believe a Self Managed Super Fund is the only possibility. But wrap accounts are another way of accessing those benefits.
- The main reason you might look at setting up a Self Managed Super Fund is if you are buying a business, or are looking at direct property.
- But please remember! The buck stops with you! So you need to be aware of being up-to-date with all the rules and regulations.
- Alison highly recommends having a good accountant, and getting advice from a financial advisor if you intend to go down this path.
- Community Broadcasting Foundation. It was first broadcast on Hobart’s ultra106five.
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