Where to start when setting up a SMSF?

Setting up a self-managed super fund (SMSF) can be a great way to gain more control over your retirement investments, especially if you’re interested in tailoring your portfolio or investing in non-traditional assets. However, it’s important to approach this with a clear understanding of the responsibilities and requirements involved.

Whilst the can provide much more control to invest outside of shares and ETFs than some super funds, the pros and cons are going to be quite specific to how you want to invest, how much you have to invest, and your appetite for additional admin. 

Pearler has this blog which other inverstors have felt quite helpful: https://pearler.com/explore/learn/blog/what-i...

Here are some steps and resources to help you get started:

1. Educate Yourself: Before setting up an SMSF, it’s crucial to understand what’s involved. The Australian Taxation Office (ATO) offers a comprehensive SMSF section on their website which includes a range of guides and resources that explain the rules, responsibilities, and steps to set up an SMSF.
2. Consider Professional Advice: Given the complexities and legal obligations associated with managing an SMSF, consulting with financial advisors who specialize in SMSFs can be very beneficial. They can provide personalized advice and help you understand whether an SMSF is suitable for your specific circumstances.
3. Create a Trust Deed: This is a legal document that sets out the rules for establishing and operating your SMSF. It must be tailored to comply with the superannuation legislation.
4. Choose Trustees: SMSFs can have up to four members, all of whom must be trustees (or directors if you choose a corporate trustee structure). Each trustee will have legal obligations and responsibilities.
5. Register the SMSF: Your SMSF needs to be registered

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