Self funded super funds

Replies to This Discussion

Permalink Reply by JeffK on September 4, 2008 at 14:08

Hi Annette, I don't have one myself, but these articles may help:

Ways to get more control over your super savings
Putting SMSF eggs in one basket
DIY Super - getting behind the wheel

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Permalink Reply by Annette Wilkins on September 4, 2008 at 14:44

Thank you Jeff...much appreciated

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Permalink Reply by moonbuggy on September 9, 2008 at 15:05

Hi Annette, unforunately I don't either, but I'm sure there are a few here that do...they're just in hiding for the moment! ;)

This thread has a few people chatting about super, and I think Bandwidth may just run his own SMSF, and he's always happy to provide feedback.

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Permalink Reply by Annette Wilkins on September 9, 2008 at 18:33

Hi Moonbuggy,
Thanks for your reply.I will have to track Bandwith down.
cheers

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Permalink Reply by CHLST on September 10, 2008 at 17:37

Quite simple. Buy a deed from someone like Allans Off the Shelf. Follow the basic set up procedures. Start a bank account with a linked internet savings account. CBA recommended as they have a good transaction account linked to an internet savings account which works with Comsec. can't beat Comsec for share trading cum banking.

Buy some shares - don't forget the listed share companies like AFI which are a ready made diversification share; almost an index stock. Buy for franked dividends which wipe out the 15% tax easily

Get an accountant that won't make a meal of the accounts and audit.

Keep good accounts. Just use a spreadsheet to replicate the bank account

Piece of cake

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Permalink Reply by Annette Wilkins on September 11, 2008 at 18:01

Thanks for your reply.
I have set up an account with the NAB.
How do I access a list of shares that pay dividends without having to go through the listed ASX companies?
Thanks again
Cheers

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Permalink Reply by FatCat on September 12, 2008 at 13:50

Hi Annette,

This article on CompareShares lists the top dividend-paying stocks:

10 Highest Dividend Paying Stocks

And if you'd like to search yourself, this recent article by the FatCat editor Toni Case on the ASX website will be of assistance:

Top dividend paying stocks - how to find them

Best of luck with it all.

FatCat

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Permalink Reply by Annette Wilkins on September 12, 2008 at 14:05

Thanks Fatcat

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Permalink Reply by Ivan Moore on September 12, 2008 at 12:25

Hi Annette. I too am thinking about starting up a SMSF and have been doing some research about. Above and beyond of getting good advice from a trusted finance broker. I found Vangaurd Investment site has a great deal of advice/news and articles on their site covering anything from properties to super. The plain talking library on the site is worth a browse to. Hope this is of some help.

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Permalink Reply by Annette Wilkins on September 12, 2008 at 12:37

Hi Ivan,
Thank you for that information. I will have a look at the vanguard site.
Retirement is all a bit scarey. We are self employed and the next 5 or 6 years we really need to make some sound decisions to achieve our goals of comfortable retirement.
Cheere

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Permalink Reply by Ivan Moore on September 12, 2008 at 16:08

I know how you feel. I'm hitting 50 and lost just about everything 12 years ago. Have dug myself & Family (who stuck by me through thick & thin). But have next to nothing in super for retirement. But I think with the help of my finance advisor SMSFs are the way to go.

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Permalink Reply by LS on September 14, 2008 at 12:30

Hi Annette,

On the ATO website they've got a section that lists the things you need to do to set up a SMSF:

Obtain a trust deed
Appoint trustees
Signing a trustee declaration
Elect to become a regulated fund
Obtain a Tax File Number (TFN)
Obtain an Australian Business Number (ABN)

Setting up a SMSF (ATO website)

[ you need to navigate via the links on the right-hand side ]

LS

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