We often get questions about self managed super funds (SMSFs) and while SMSFs may be great for some people, they won’t suit everyone. Your super is an investment for your retirement; even the Australian Securities and Investment Commission (ASIC) recommends you ‘look before you leap into a SMSF’.
Being in control of your super may look appealing, however the terms ‘self managed’ and ‘do-it-yourself’ super are possibly misleading. Operating a self-managed super fund is complex, and usually requires professional assistance, time and money.
Our new Managing your own super fact sheet includes some questions you may want to consider before deciding on a SMSF.