In this episode of SMSF Insider, host Troy dives into the most common myths surrounding self-managed super funds (SMSFs). He clarifies the misconceptions that SMSFs are automatically more expensive than other superannuation funds, emphasizing that while they may be pricier for lower balances, they can be more cost-effective as balances grow. Troy also addresses the time commitment involved in managing an SMSF, pointing out that it can consume a lot of time if done independently. However, he reassures listeners that with the right support, achieving financial independence through an SMSF is entirely feasible. Tune in for valuable insights and advice on navigating the complexities of SMSFs. Remember, this podcast is not personal financial advice—always consult with a licensed advisor before making investment decisions.

Ready to finally take control of your take control of your retirement savings and stop leaving your future in someone else’s hands? Book your free call with our team today to find out more: https://www.bcsmsf.com.au/contact-us/

Follow us:

Instagram – https://www.instagram.com/bluechipsmsf/

Website – https://www.bcsmsf.com.au

Please note: The information provided in this recording is for coaching and educational purposes only. It should not be considered personal financial advice. Everyone’s situation is different, so before acting on any of the content discussed, please seek independent financial advice tailored to your specific circumstances.

Timestamps: 

00:00:00 - 00:00:00: Introduction

00:01:14 - Myth 1: SMSFs Are Automatically More Expensive

00:02:32 - Myth 2: Setting Up an SMSF Is Too Complicated

00:03:47 - Myth 3: You Need to Be a Financial Expert

00:04:51 - Myth 4: SMSFs Are Too Risky

00:05:45 - Myth 5: SMSFs Have Too Many Hidden Fees

00:06:48 - Myth 6: You Can't Borrow to Invest with an SMSF

00:07:32 - Myth 7: Once Set Up, an SMSF Requires No Attention

00:08:44 - Myth 8: You Can't Invest in Property with an SMSF

00:09:15 - Myth 9: Mistakes Will Cost You Your Entire Retirement Savings

00:09:47 - Myth 10: SMSFs Don't Perform as Well as Other Funds

00:10:30 - Myth 11: Running an SMSF Takes Up All Your Free Time

00:11:12 - Myth 12: You Can Only Have One Type of Investment

00:11:33 - Myth 13: Using an Advisor Means Losing Control

00:12:05 - Myth 14: SMSFs Are Only for the Wealthy