SMSF remain as popular as they were several years ago. However, there are many who get a little confused about what a self-managed super fund is and how they should be managed. The real trouble starts with investors not having a clear enough mind. Most believe these funds are extremely profitable but in reality they are a lot of hard work. A clear mind will be very important when it comes to managing a self-managed super fund.
Don’t Confused What You Earn With What You Want To Earn
There are many who mistakenly think they can earn millions with their self-managed super fund and think this is going to let them retire. Unfortunately this is not how it works. A self-managed super fund is really about retirement in the future and not at this moment in time. Yes you have to invest to make money but it isn’t always plain sailing or successful. A lot of people end up confusing what they could potentially earn and what they want to earn and that sets them up for a massive fall. Instead you have to think realistically so that you don’t get a nasty surprise.