Show Notes
Self-managed super funds now hold more than $1 trillion in assets, yet many Australians still aren't sure how they work or whether they could be an option worth considering.
On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Marisa Broome, certified financial planner and principal of wealthadvice.com.au, to explain the mechanics, benefits and risks of self-managed super funds (SMSFs).
00:00 Introduction 01:45 What an SMSF is and how it differs from retail and industry funds 03:25 Why fees and asset allocation matter 05:00 Why people choose SMSFs 06:20 Who SMSFs are best suited to (and who should avoid them) 08:45 How much money you should have before starting an SMSF 10:00 The practical steps involved in setting up a fund 15:00 Why investors should do their homework before setting up an SMSF 16:15 Conclusion
#friendswithmoney #tomwatson #marisabroome #super #smsf
Podcast Links: Listen on Apple Podcasts Listen on Spotify Money Website YouTube Podcast Playlist Email Us: [email protected]
Get stories like this in our newsletter: https://bit.ly/4pKl3ai
More from Friends With Money
Planning an overseas holiday? Once you've booked your flights and accommodation, travel insurance should probably be next on your checklist. On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Natalie Smith, travel insurance expert and head of marketing at Comparetravelinsurance.com.au, to run through what travel insurance really covers and the common mistakes travellers make.
With interest rates at their highest level in years, could homeowners be doing more to keep their mortgage costs down?
✈️ Are frequent flyer points still worth it after the rewards shake-up?
Financial advice can be valuable, but for plenty of Australians, the cost puts it out of reach. So could super funds hold the key to closing the advice gap? On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Rudy Leong, senior private wealth adviser at UniSuper, to discuss the type of financial advice members can currently access through their super funds and how that could change in the future.
From October, card surcharges will become a thing of the past. But while the change promises savings for cardholders, it could have ripple effects beyond the checkout. On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Adele Eliseo, founder of The Champagne Mile, to explain what's changing, who's likely to benefit and why credit cardholders need to pay close attention. 00:00 Introduction 01:34 What happens to card surcharges from October? 03:42 Why are card surcharges being banned? 04:40 How much are consumers likely to save? 05:32 The impact on rewards credit cards 07:03 How banks are already changing rewards programs 08:27 What rewards card holders should do now 10:10 Conclusion #friendswithmoney #tomwatson #adeleeliseo #creditcardsPodcast Links: Listen on Apple Podcasts Listen on Spotify Money Website YouTube Podcast Playlist Email Us: [email protected]