SMSF investing: The hidden dangers

Key Points SMSFs offer generous tax benefits and control over your savings Greater control increases the risk of falling prey to pitfalls Many SMSF investors are loading up on risks of which they are blissfully unaware The Myth Advisory websites sell SMSFs as a tax benefit nirvana, offering the chance to ‘take control’ and ‘boost your returns’. Frequently, the text is accompanied by an image of a retired couple, strolling along a sandy beach, hand in hand like young lovers with not a care in the world. The message is subtle but clear: Set up an SMSF and live...

Advisory websites sell SMSFs as a tax benefit nirvana, offering the chance to ‘take control’ and ‘boost your returns’. Frequently, the text is accompanied by an image of a retired couple, strolling along a sandy beach, hand in hand like young lovers with not a care in the world. The message is subtle but clear: Set up an SMSF and live your dreams; live the good life.

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