Considering a Self Managed Super Fund Loans

To help you determine whether a SMSF home loan will meet your needs it's important you speak to your accountant.

Please see the below list of considerations and commonly asked questions:

  • Will it save you money? Fees and charges are involved in managing an SMSF loan and it can often get expensive.  Consider how much you actually have as retirement savings and whether it is financially sound to set up a SMSF loan.  Consider: You can start by comparing the accounting and audit fees costs of an SMSF against the charges of a standard retail super fund.
  • Losing funds and money: You wouldn't be able to reclaim funds if you were to lose any money.  Consider: If you were a member of a retail Superfund there may be a remedy for compensation available.
  • What benefits will you lose?: You might enjoy many benefits from an employer provided super fund. However, to receive the same benefits under a SMSF, you would have to organise these yourself.  The most common benefit is cheaper life insurance. Consider: Ask if the public super fund can transfer the insurance at the same rate into your own name?
  • Can you invest your super funds effectively?: When you are a member of an employer managed retail Superfund you can be confident that the money is looked after and managed by professionals with specialised knowledge.  Remember: Generally, a SMSF is more suited to those who have particular personal investment experience.

If you are aware of what a SMSF involves and would like to enquire about financing options today talk to me today!

Related content