What are the ages of the members of your SMSF?
My wife (66) and myself (59).
Why did you start your SMSF?
To gain experience in managing my own investment portfolio.
How large is your SMSF?
Only $110,000 at this stage. Built this up over the last three years of employment by contributing my statutory and maximum salary sacrifice super to our new fund.
Is it more, or less difficult to manage than you thought it would be?
Much less difficult. eSuperfund was easy to establish, a breeze to meet tax/compliance requirements and cost effective.
Do you enjoy managing it?
Yes, I do especially since retiring last year. I have run businesses for major corporations and was a director responsible for corporate services/finance in the public sector.
Are you pleased with the performance of your SMSF?
Yes, but my goal was simply to gain experience trading shares and cover my costs. This I have easily achieved by adopting the Switzer model income and growth portfolios, while having a bit of fun buying/selling Switzer tips, which look appealing.
What is your asset allocation?
100% Australian equities at the moment in SMSF.
What investments do you have outside of your SMSF?
Macquarie WRAP and Local Government Super allocated pensions totalling about $2M (about to change from 1 July, of course). The overall portfolio could be described as Balanced Growth (about 25% defensive assets). We also own a 2-bedroom rental unit in Sydney.
Do you use an advisor or any kind of service provider?
We use a financial planner, eSuperfund as our online SMSF platform/compliance service and eBroking for online trading. SMSF trades are usually based on Switzer Super Report recommendations but also informed by financial press, individual research and personal contacts.
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.
