News Formal

My SMSF Investment Is Underperforming And Making Me Stressed

  • 📰 brisbanetimes
  • ⏱ Reading Time:
  • 30 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 67%

Personal Finance News

SMSF,Self-Managed Super Fund,Retirement Savings

An individual shares their experience with an underperforming self-managed super fund (SMSF) and seeks advice on how to improve their situation. Despite employer contributions, their balance has only slightly increased after five years, primarily due to high costs and complex investments.

I was convinced to open an SMSF in 2019. The promise was that my money would earn much higher returns than had been the case in my previous fund.

I’ve commented previously that I don’t believe SMSFs make sense unless there is a specific investment case that requires them , or yourIt has since been pointed out to me that there are cost-effective SMSF solutions that do make them viable for lower account balances, so I may have been a bit harsh here, but certainly few would consider an SMSF to be suitable below $500,000 in retirement savings.

On my super statement, about a third of my balance is noted as being “tax-free”. I’m confused by this as I thought all super was tax-free once I retired. What is this referring to?

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coroner calls for urgent investment into healthcare for trans community, following five tragic deathsA coroner recommends more funding for gender affirming care and systemic changes across Victoria Police, following a probe into the deaths of five transgender women, who died during the pandemic.
Source: abcnews - 🏆 5. / 83 Read more »

Bonds, corporate bonds: The reliable but unpopular investmentThe global bond market is roughly three times the size of the global equity market, yet bonds don’t get much love from everyday investors.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Bonds, corporate bonds: The reliable but unpopular investmentThe global bond market is roughly three times the size of the global equity market, yet bonds don’t get much love from everyday investors.
Source: theage - 🏆 8. / 77 Read more »