In this episode of Talk Property To Me, I had the pleasure of speaking with Cameron from Waterford Financial Planners about self-managed super funds (SMSFs). We delved into the intricacies of setting up and managing an SMSF, exploring the differences between SMSFs and industry funds, the advantages of leveraging assets within an SMSF, and the various investment options available.
Cameron highlighted the importance of seeking independent advice and avoiding one-stop-shop solutions that may lead to potential conflicts of interest. We discussed real-life examples of successful SMSFs as well as cautionary tales of SMSFs gone wrong, emphasising the need for careful planning and due diligence.
Throughout the episode, we covered key topics such as the setup process, compliance requirements, tax implications, and considerations for retirement planning within an SMSF. Cameron provided valuable insights into the complexities of SMSF lending, the importance of proper structuring, and the potential pitfalls to avoid.
We concluded by stressing the significance of conservative investment strategies, the minimum fund size for SMSF lending, and the importance of seeking professional advice when navigating the world of self-managed super funds.
Listeners were encouraged to reach out to Cameron at Waterford Financial Services for personalised advice and assistance with their SMSF queries. Whether seeking clarification on SMSF setup or evaluating the effectiveness of an existing SMSF structure, Cameron and his team are ready to provide expert guidance and support.
Tune in to this episode for a comprehensive overview of self-managed super funds, packed with practical insights and expert advice to help you make informed decisions about your retirement savings.
00:00:01 – Introduction to Self-Managed Super Funds
00:05:17 – Steps to Set Up a Self-Managed Super Fund
00:10:02 – Limited Recourse Borrowing Arrangement
00:11:05 – Compliance and Audits for Self-Managed Super Funds
00:12:39 – Taxation in Self-Managed Super Funds
00:13:53 – Retirement Options and Pension Phase
00:15:49 – Real-Life Examples of Successful Self-Managed Super Funds
00:18:20 – Importance of Independent Advice in Self-Managed Super Funds
00:21:46 – Considerations for Separation or Death in Self-Managed Super Funds
00:22:30 – Minimum Fund Size for Self-Managed Super Fund Lending
ABOUT THE HOST
BRAD EAST
Brad East is the Managing Director of Wisebuy Home Loans. Brad is an award-winning mortgage broker and has helped thousands of clients gain finance to purchase properties. Wisebuy Home Loans is the go-to mortgage brokerage for clients wanting out-of-the-box applications approved.
Website → https://wisebuygroup.com.au
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