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Do-it-yourself superannuation is not for the average handyman

For anyone considering a move from their industry fund into their own personally tailored self-managed superannuation fund, there are a lot of cons to consider in pursuit of the pros.

Mature retired couple enjoying retirement on the beach facing the sea with mobile phone taking pictures
Managing an SMSF takes time and an understanding of complex regulations in order to ensure a comfortable retirement.

The ability to take charge of their own retirement has proven so attractive that today more than a quarter of all superannuation funds in Australia are self-managed superannuation funds (SMSFs).

Within the $3.4 trillion superannuation market, more than a million Australians have taken on the burden, and anticipated increased gains, associated with managing their own retirement fund allocations, encompassing everything from property to shares and…