Page 2 of 2 FirstFirst 12
Results 16 to 17 of 17
  1. #16
    Join Date
    Apr 2011
    Location
    Dandenong, Vic
    Posts
    0

    Default

    Quote Originally Posted by kiwigeo View Post
    Your friend is running a self managed super fund and he's got all his investments 100% tied up in cash invested in a bank savings account??? Something not quite right there. Perhaps your friend needs to re-evaluate why hes running an SMSF rather than using an industry cash based fund.
    Not savings, term deposits. The fees are cheaper if you do it youself rather than pay a parasite money to do nothing.
    If your getting close to retiring its not that silly an idea if you've accumulated enough.
    His term deposits are doing better than my industry balanced fund.

  2. #17
    Join Date
    Jul 2004
    Location
    Adelaide Hills
    Age
    66
    Posts
    0

    Default

    Quote Originally Posted by _fly_ View Post
    Not savings, term deposits. The fees are cheaper if you do it youself rather than pay a parasite money to do nothing.
    If your getting close to retiring its not that silly an idea if you've accumulated enough.
    His term deposits are doing better than my industry balanced fund.
    Unfortunately you cant do an audit and prepare annual financials yourself. How much has your friend got in his SMSF? If your friend has at least $200,000 in his SMSF then a $2200 pa accountants fee represents a small amount compared to what many managed funds are charging (as youve noted). Note also within an SMSF the interest on the term deposits is getting taxed at a lower rate.
    Whatever note you blow youre never more than a semitone away from the correct one....(Miles Davis)

Similar Threads

  1. Return ticket
    By Barry Hicks in forum JOKES
    Replies: 2
    Last Post: 7th January 2008, 10:45 AM

Tags for this Thread

Bookmarks

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •