In this episode of SMSF Insider, Troy breaks down the most common SMSF terms you’ll come across when setting up or managing your fund. If you’ve ever felt overwhelmed by jargon like trustee, LRBA, bare trust, preservation age, or concessional contributions, this episode clears everything up in plain English. Troy explains what each term means, how it affects your fund, and when you might encounter it on your SMSF journey, from the accumulation years to the moment you start drawing a pension. You’ll also learn how borrowing works inside an SMSF, how contribution caps work, and when you may need a bare trust.

If you’re building wealth through an SMSF, this is the foundational language you need to confidently manage your fund and avoid costly mistakes.

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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

00:55 - SMSF terminologies explained

00:01:06 - What is an SMSF?

00:01:24 - What is a trustee?

00:02:03 - What is a beneficiary?

00:02:41 - What is a rollover?

00:03:09 - What is a bare trust?

00:05:19 - Why you need a specialist mortgage broker for LRBAs

00:07:22 What is a concessional contribution?

00:08:12 Why you need professional guidance with contributions