SMSF and Superannuation Discussion Post

SMSF and Superannuation Discussion Post

Initial Post A:

As quoted in the article….

“…by far the majority of people who start an SMSF are doing it because an accountant or an advisor has recommended that course of action to them…”

Comment on either of the following statements:

– The establishment and operation of an SMSF is complicated. Most clients do not have the knowledge or experience to make an informed decision on the possibility of setting up an SMSF. Consequently, the client is relying on the advice provided by others – and this exposes the client to risk.

– Accountants make fees from helping to administer an SMSF. Consequently, an accountant providing advice has a potential conflict of interest. That is, the advice is not independent – and this exposes the client to risk.

Initial Post B:

In Case 1, Lady 1 has all of her superannuation invested in a single asset – a rental property. There is a common misconception that property values never decline – this is false. And in this example, there is nil diversification within the fund – and this exposes the client to risk. In my opinion, this is a poorly constructed superannuation fund and Lady 1 would be much better off selling the property and using the cash proceeds to establish a diverse portfolio of investments.

Initial Post C:

In Case 2, Lady 2 (sadly) has only AUD24,000 in superannuation. This is not enough to fund her retirement.

Comment on either of the following statements:

– It is not appropriate to have a retirement plan that relies upon expected share trading profits to help “subsidise some of my living expenses”

– There is a lot of data that demonstrates that the retirement savings of females (on average) are significantly lower than males (on average). This is caused by several factors including lower wages for females and intermittent career paths associated with having a family. This represents a significant problem for society and must be addressed by developing different rules for superannuation for females.

You need to read each post and write down your response for each one.

Please answer these three initial post in order individually

All the work must original

Turnitin report is required

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