SUPDIY046 SMSFs: Are they worth the effort for average investors? (524 words)

Find out whether an SMSF is a good fit for your financial situation by comparing its potential benefits with its possible disadvantages.

The option of controlling your own financial destiny in retirement, by setting up a Self-Managed Super Fund (SMSF), appeals to many Australians. There are around 650,000 SMSFs operating in Australia, with over one million members and estimated assets of more than $1 trillion. But just because it’s a popular choice doesn’t necessarily make it the best fit for you. Before you go down this path, weigh up the positive benefits against the downsides.