Friends With Money #267: Is an SMSF right for you?
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Self-managed super funds (SMSFs) now hold more than $1 trillion in assets.
But many Australians still aren't sure how they work or whether they could be an option worth considering.
On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Marisa Broome, certified financial planner and principal of wealthadvice.com.au, to explain the mechanics, benefits and risks of SMSFs.
Episode timestamps:
00:00 Introduction
01:45 What an SMSF is and how it differs from retail and industry funds
03:25 Why fees and asset allocation matter
05:00 Why people choose SMSFs
06:20 Who SMSFs are best suited to (and who should avoid them)
08:45 How much money you should have before starting an SMSF
10:00 The practical steps involved in setting up a fund
15:00 Why investors should do their homework before setting up an SMSF
16:15 Conclusion
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Friends With Money podcast FAQ
What is the Friends With Money podcast?
Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.
Where can I listen to the podcast?
You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).
Who hosts Friends With Money?
Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.
Is the podcast suitable for beginners?
Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.
What topics does the podcast cover?
The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.
How often are new episodes released?
New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.
Can I watch episodes with captions?
Yes, full episodes with closed captions are available on YouTube.
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