Most people who choose to set up an SMSF make this decision for the following reasons:
But as with all investment decisions there are also disadvantages and risks.
The downside may include the amount of time you need to spend to manage the fund, the costs associated with administering SMSF’s with low balances, the personal risks of acting as trustee, potential estate planning issues following the mental decline or death of a trustee, and possibly the lack of expertise to create a better outcome than could be achieved by investing in other super funds.