Ah the ol’ SMSF myth! When people think of a #selfmanagedsuperfund
they automatically associate it with being ‘rich’ or ‘well off’, but we’re here to debunk this myth!
Taking control of your #superannuation
is not a simple decision, so considering all factors should be a priority! Being aware of the minimum balance required to start a SMSF is among these considerations.
But what is the minimum?
ANSWER: There isn’t one!
You’ll hear a lot in #finance
that you need a minimum of $200,000 to launch a SMSF account...yet this is not true! 🙅🏼♀️
There is no actual minimum superannuation balance for owning a SMSF with the latest #ATO
statistics (September 2018 quarter) showing majority of Australian’s with new SMSF’s having a yearly income between $40,000 - $150,000! 😲
Establishing a Self-Managed Super Fund is more focused on the WHY and WHAT your purpose is. We hope this little mini-blog post has helped and as always, shoot us an email at firstname.lastname@example.org
for any questions 👋🏼