29 August 2014

What’s the minimum viable SMSF balance

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When it comes to the minimum viable SMSF balance, for many it’s more about the why and not the balance. For my personal fund though it was $200,000 for my family SMSF, as I SMSF 101believed that until my wife and I had that much in the fund, the administration costs as well as my additional time and effort would not justify having a self managed superannuation fund.

Thankfully in the last few years it has become more a personal decision rather than a purely financial decision. The personal decision revolves around a desire for more transparency, to have more control or to adopt a hands-on approach to the management of retirement funds. Often it is a wish to combine a couple’s funds together to achieve economies of scale or the flexibility to fund a property purchase in superannuation with or without borrowing.

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Article posted 28 August 2014 on Canstar:  http://www.canstar.com.au/self-managed-super/smsf-saving-accounts/whats-the-minimum-viable-smsf-balance/


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