Understanding SMSFs 🏦

Discover how a Self-Managed Super Fund (SMSF) empowers you to take control of your retirement savings with flexible investment options, from property to shares. Learn the benefits, responsibilities, and strategies to maximize your SMSF's potential. Dive into the essentials of setting up, managing, and leveraging your SMSF for a secure financial future.

Key Highlights:
🔑 Lending Requirements: New businesses need ABN registration for at least 18 months. Major lenders offer simpler verification processes based on director's wages.

📈 Current Lending Trends: With rising interest rates, understanding the tiered lending system is crucial for maximizing borrowing power.

🏠 SMSF Lending: Refinancing options are available with lower rates from non-big four lenders.

📚 SMSF Basics: SMSFs provide investment flexibility in shares, property, art, and more.

⚙️ Setting Up SMSF: Involves creating a trust, setting up a corporate trustee, and opening a bank account, typically taking six weeks.

🛡️ Bear Trust: Protects other SMSF assets in case of loan defaults.

🏦 Trust Structures: Outside super, trust structures with corporate trustees can exclude loans from serviceability calculations, enhancing borrowing capacity.

What do you think about SMSFs? 🤔