Welcome to our final blog in our SMSF series! In part one we discussed the main things you need to know if you’re thinking about having an SMSF.
In part two, we outlined the top 7 mistakes we see in running an SMSF, and how to avoid them.
We close out the series by briefly outlining how you can go about setting up an SMSF.
Thinking about an SMSF? Here’s part 2 of a 3 part series on what you need to know…
Running a SMSF isn’t all rainbows and unicorns, and there’s no shortage of bad decisions you can potentially make when it comes to your money. So here’s a few things to avoid on the SMSF path.
Here’s my top 7 mistakes when running an SMSF;
The share market has risen 35% in the past 12 months so anyone who’s owned shares has enjoyed the meteoric rise. The volatility in the market has brought out the day traders in droves.
Too many traders don’t consider the tax effects of their actions whilst at the same time bragging about the gross returns. But those returns can be heavily impacted by the frictional costs of transactions and taxes.
As we experience yet another Covid lockdown and lockout across the country, and now without the JobKeeper safety net, it highlights the importance of cash flow in Australian businesses.
How do YOU manage YOUR cash flow?
The interest in cryptocurrencies has risen just as fast as the Bitcoin price.
Whilst Warren Buffett says it’s a load of rubbish that hasn’t stopped millions of Aussies being interested in buying Crypto just like Bitcoin. Who doesn’t want a piece of the action when they see an asset sky rocket in price.
How long would you last before you crashed whilst driving blindfolded? The answer is obviously not long. Even if you knew the road and drove it every day you’d still crash within a short distance.
Yet hundreds of thousands of small business owners run their business’s exactly like that because they have no optics on their financials. No optics, no direction, no destination!
International Women’s Day on Monday highlighted the 30% difference in retirement savings between men and women. But let’s try to even things up…
As house prices rise on the back of ridiculously low interest rates, the next area of growth will be ‘new car sales’ as home-owners feel wealthier and splash out.
You may have noticed that the share market has taken a breather in the past few days and property continues to rise.
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