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.

Read more by clicking on below

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

 

Verante Pty Ltd is a Corporate Authorised Representative of Viridian Select Pty Ltd, ABN 41 621 447 345, AFSL 515762. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information consider its appropriateness, having regard to your objectives, financial situation and needs.

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