Howdy
Sorry another SMFS thread.
Was speaking with the accountant and they advised that you don't need 150k plus for SMFS.
Similar to the SMFS mini thread, people are doing it with 60k balance.
Now I don't think this is for me yet as I've crunched the numbers and It would be very reliant on capital gains to "grow the fund" but eventually become positive etc.
Diversification is also a concern.
There are some good advantages to SMFS, so I'd like to plan to increase my super faster to get to a point where I can comfortably invest in property + shares in the Fund.
This Brings me to my question.
Salary sacrifice, is this a good thing to do to plan for a SMFS.
Not only will it help with the tax bracket I'm in, but force savings before it hits my account.
If I throw 20k per year into super( ex employee contributions) this should set us up with about 100k+ next year to purchase a positively geared property with potential capital growth(hopefully)
It also saves me around 4.5-5k in Tax.
I like the Idea of Managing my own Funds, i'm activly involved in planning for my future, I don't see why I should leave super up to some-one else( lol as long as I don't screw it up )
Cheers
Sorry another SMFS thread.
Was speaking with the accountant and they advised that you don't need 150k plus for SMFS.
Similar to the SMFS mini thread, people are doing it with 60k balance.
Now I don't think this is for me yet as I've crunched the numbers and It would be very reliant on capital gains to "grow the fund" but eventually become positive etc.
Diversification is also a concern.
There are some good advantages to SMFS, so I'd like to plan to increase my super faster to get to a point where I can comfortably invest in property + shares in the Fund.
This Brings me to my question.
Salary sacrifice, is this a good thing to do to plan for a SMFS.
Not only will it help with the tax bracket I'm in, but force savings before it hits my account.
If I throw 20k per year into super( ex employee contributions) this should set us up with about 100k+ next year to purchase a positively geared property with potential capital growth(hopefully)
It also saves me around 4.5-5k in Tax.
I like the Idea of Managing my own Funds, i'm activly involved in planning for my future, I don't see why I should leave super up to some-one else( lol as long as I don't screw it up )
Cheers