Thinking of an SMSF setup but are in a dilemma because of certain points that you keep on hearing time and again? Well, fret not as more often than not, the points are nothing but myths. Today, we will take a look at some of the myths, which are associated with Self Managed Super Funds :
- It is way too hard to manage : This is one of the most common myths that are related to SMSF. However, the fact is that it is easy to setup and run and all that you have to do is to abide by the rules and regulations to manage it.
- You cant invest the fund : Mostly SMSFs are used as a retirement option. But this doesnt mean that you cant invest the fund in more places than one. For instance, you can opt for SMSF property investment.
- Earning truckloads of money is a must for SMSF : This is another false notion that is associated with SMSFs. Having a large income is definitely not a prerequisite for SMSF setup.
So, what are you waiting for? Research more on this wonderful investment option and go for it today!