In this episode of SMSF Insider, host Troy discusses the costs associated with establishing a self-managed super fund (SMSF). He outlines the range of costs that can vary significantly based on providers, from as low as $1,000 with online services to $10,000 for comprehensive financial advice. Troy explains the factors that influence these costs, such as the choice between individual and corporate trustees, the need for a bear trust, and the implications of purchasing multiple properties. Additionally, he emphasizes the importance of having an investment strategy to ensure compliance and avoid potential opportunity costs. Tune in to gain insights into managing the complexities of SMSFs and taking charge of your financial future.

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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

00:01:03 - Costs of establishing an SMSF

00:05:52 - Property investment strategies and costs

00:08:30 - Purchasing property in SMSF