In The Black magazine provided an 8-step guide to DIY super. 1: Ensure the fit is right, because Self Managed Super is not for everyone. 2: Decide whether you are going to become a market expert yourself or use a good adviser. 3: Know the SMSF rules. 4: Make sure your finances are prepared. An SMSF fund should start with at least $200,000 and you need to budget for set up and ongoing compliance costs. 5: Prepare a strategy. 6: Follow the rules that prevent you from linking personal and SMSF assets. 7: Know your obligations, in particular as this applies to how and when you access your funds. 8: Watch your exposure. In The Black suggests that you hold at least 20 stocks and advises against holding more than 70% of assets in shares.
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