Super fees frenzy equals a retirement nightmare

At the very least like you have an accountant to help you set up your SMSF, have a Financial Advisor to help you setup your SMSF Investment strategy and help you review your decisions or help you set the investments up. This gives you the sounding board to make sure you are on the right path. At the very least it prevents you from having a disaster and loosing all your funds because you have run it past a professional who does it day in and day out.

Some of my clients do this because they have nothing else they would rather do and are passionate about it! Which is fantastic.

I am happy to see more people paying more attention to it. It is very important.

Accountant yes .

Financial adviser no . With our first IP in our Super , the " Wesuck" bank said that if we didn't have a financial plan drawn up by their financial adviser they weren't prepared to lend us money . About 5 k later we had a long document that said , yes buying a property in your SMSF is affordable and a good idea ..... Never looked at it again.

Looking at how us and our friends have gone financially over the last 30 years , the one's who put their trust in the financial industry to look after their financial future are the ones who are looking forward to minimalistic retirements. Get advice by all means ( we still do ) but it doesn't take long to educate your self in basic investment knowledge so when you talk to these advisers you know whether it sounds kosher or not.

Cliff
 
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