Risks of a self managed superannuation fund
Wednesday July 9, 2008
Those who decide to go with a self managed superannuation fund do so at considerable risk if they go in unprepared. While there is potential for higher gains by using a self managed superannuation fund compared to other types of superannuation funds, the likelihood of making less or even losing money is incredible.
A superannuation fund will not magically make more money. The funds need to be invested wisely with plans for long term growth. A self managed superannuation fund also needs to cost as little as possible, or else it may hold very little advantage over a corporate superannuation fund. If the costs of advice and management outweigh those that a corporate superannuation fund would charge, then the benefits of self management will probably be minimal.
Please browse our site to read more about using a superannuation fund.
