Total control over your super sounds empowering, right up until you realise you are also the trustee, the compliance manager and the last line of defence against mistakes. We sit down with superannuation specialist Marco Millardo to unpack what self-managed super funds (SMSFs) really are, why Australians set them up, and why plenty of people later decide to wind them down.

We talk through the practical stuff most brochures skip: typical set-up and running costs, why fixed admin and audit fees can hurt smaller balances, and how SMSF insurance often lacks the buying power of group cover in an industry fund. We also dig into the unglamorous reality of being responsible for every decision and every signature, plus the growing risk of scams and illegal early access when you control the bank account.

Listener questions take us into the tricky corners: rolling an SMSF into another fund, managing “lumpy” assets like property, paying expenses correctly, and coping with minimum pension drawdown rules as you age. Marco also explains why defined benefit super funds can be worth their weight in gold, what to think about before giving one up, how SMSF borrowing works via an LRBA, and the tax traps that can hit adult children through non-dependent death benefit tax.

If you are weighing up an SMSF, already running one, or wondering when it is time to simplify, hit play. Subscribe, share this with a mate who loves spreadsheets, and leave us a review with your biggest SMSF question.

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg

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