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Home > I’m Interested in Self Managed Super > How much money do I need to start a Self Managed Super Fund?
How much money do I need to start a Self Managed Super Fund?
Both ASIC and other commentators suggest you need a Super balance of around $200,000 to make the administration costs of an SMSF worthwhile. We tend to err on the side of caution and suggest the figure should be a little closer to $300,000. Importantly, it depends on your personal circumstances. A more indepth response would take into account your age, risk profile, future goals, your current earning capacity and any other assets (shares, property, etc) held outside of Super.
Usually, with a Super balance less than the figures above, the fund may have difficulty earning enough to make its set-up and running costs worthwhile.
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Both ASIC and other commentators suggest you need a Super balance of around $200,000 to make the administration costs of an SMSF worthwhile. We tend to err on the side of caution and suggest the figure should be a little closer to $300,000. Importantly, it depends on your personal circumstances. A more indepth response would take into account your age, risk profile, future goals, your current earning capacity and any other assets (shares, property, etc) held outside of Super.
Usually, with a Super balance less than the figures above, the fund may have difficulty earning enough to make its set-up and running costs worthwhile.
Back to FAQs
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