SMSF Secrets Made Simple
Total control over your super sounds empowering, right up until you realise you are also the trustee, the compliance manager and the last line of defence against mistakes. We sit down with superannuation specialist Marco Mellado to unpack what self-managed super funds (SMSFs) really are, why Australians set them up, and why plenty of people later decide to wind them down.
We talk through the practical stuff most brochures skip: typical set-up and running costs, why fixed admin and audit fees can hurt smaller balances, and how SMSF insurance often lacks the buying power of group cover in an industry fund. We also dig into the unglamorous reality of being responsible for every decision and every signature, plus the growing risk of scams and illegal early access when you control the bank account.
Listener questions take us into the tricky corners: rolling an SMSF into another fund, managing “lumpy” assets like property, paying expenses correctly, and coping with minimum pension drawdown rules as you age. Marco also explains why defined benefit super funds can be worth their weight in gold, what to think about before giving one up, how SMSF borrowing works via an LRBA, and the tax traps that can hit adult children through non-dependent death benefit tax.
If you are weighing up an SMSF, already running one, or wondering when it is time to simplify, hit play. Subscribe, share this with a mate who loves spreadsheets, and leave us a review with your biggest SMSF question.