She's On The Money The Secret to Managing Your Super — And It’s Not an SMSF!
4 snips
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!
AI Snips
Chapters
Transcript
Episode notes
Compare True Running Costs
- Calculate fees before switching: SMSF annual costs average $3,000–$10,000 plus advisor and audit fees.
- Compare those against current super fund fees to see if an SMSF truly saves money.
Fees Pay For Real Services
- Even if your super fund charges ~1%, that fee buys professional administration, insurance and management you may not want to replicate.
- An SMSF only makes sense if your value from bespoke control exceeds those services' cost.
Check Your Super Regularly
- Log into your superannuation account and check your balance and investment choices at least quarterly.
- Knowing your numbers makes you much more likely to achieve financial security.