Ready to finally take control of your take control of your retirement savings and stop leaving your future in someone else’s hands? Book your free call with our team today to find out more: https://www.bcsmsf.com.au/contact-us/In this episode of SMSF Insider, host Troy, founder of Blue Chip SMSF Services, delves into the fundamentals of self-managed super funds (SMSFs). He explains what an SMSF is, a private superannuation fund that you control, allowing you to make your own investment decisions without a fund manager's oversight. Troy emphasizes the complexities involved in setting up an SMSF and advises listeners to engage a professional rather than attempting to do it themselves to avoid potential mistakes. He also outlines the investment opportunities available within an SMSF and discusses the typical structure involving up to six members, often consisting of families. Follow us:Instagram – https://www.instagram.com/bluechipsmsf/Website – https://www.bcsmsf.com.auThe information provided in this recording is for coaching and educational purposes only. It should not be considered personal financial advice. Everyone’s situation is different, so before acting on any of the content discussed, please seek independent financial advice tailored to your specific circumstances.Timestamps: 00:00:00 - 00:00:00: Introduction00:00:26 - Engaging a Professional for SMSF Setup00:00:47 - What is an SMSF?00:01:43 - Who Can Be Involved in an SMSF?00:02:06 - Investment Options with an SMSF00:02:50 - Control and Flexibility of SMSFs00:03:53 - Rules and Regulations for SMSFs00:04:15 - Why People Choose SMSFs00:04:48 - Insurance Considerations with SMSFs00:06:03 - SMSF Setup Process00:06:46 - Restrictions on Property Investments00:07:51 - Making Contributions to Your SMSF00:09:15 - Understanding SMSF Basics00:09:47 - Minimum Balance Guidelines for SMSFs00:10:30 - Long-Term Investment Strategy00:11:01 - Support for Busy Professionals00:11:21 - Withdrawal Restrictions from SMSFs

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