SMSF - What to Do with The Money in There?

grabngo on 04/08/2024 - 11:29

We have a SMSF and have bought a property last year and are receiving decent returns.
We have approx $50k in there now.
Any suggestions as to what to do with the money there?
We are thinking of buying another property with the money in there later this year or next year but planning is required.
Thanks in advance

Financial SMSF

Comments

  • Downvoter on 04/08/2024 - 11:49
    +20

    Don’t have a SMSF if you have NFI what you’re doing

  • SBOB on 04/08/2024 - 12:10
    +3

    Any suggestions as to what to do

    With the overwhelming detail regarding your other assets/asset diversity(either in our out of super), risk profile, timeline until retirement….
    No, no suggestions

    • Daniel Plainview on 05/08/2024 - 10:04

      100% this - poorly written OP, unclear if the property they bought last year is in the SMSF or not and yes no other details at all means you either get crap advice or no advice with it being applicable either through only pure luck or it being incredibly generic.

      Let me say this - whatever you do with that remaining $50k balance - I do hope you put more effort into it, that you did in trying to elicit guidance here in your OP. As the old programmers maxim goes, Garbage in, garbage out.

  • AngoraFish on 04/08/2024 - 12:54
    +3

    Move the cash into an industry fund and let them worry about all that for you. $50k is far too low a balance for a SMSF.

    Otherwise, if your SMSF also owns the property you'll need a cash float anyhow to cover unexpected costs. Just put the cash in a high interest investment account that has no restrictions on withdrawals.

  • dtc on 04/08/2024 - 14:11

    Black.

    Or Red.

  • freefall101 on 04/08/2024 - 14:28
    +1

    You want to buy a property with $50k?

    Tried South America?

    • grabngo on 10/08/2024 - 20:05
      -1

      read the description thanks.

  • cashless on 04/08/2024 - 17:20
    +1

    SMSF -What to Do with The Money in There

    Erm, use it for your pension?

  • jv on 05/08/2024 - 12:54

    Emu eggs

  • MrMarket on 05/08/2024 - 13:07

    50K isn't a lot of money, there is a requirement for SMSF to have certain liquidity/cash flow to deal with ongoing expenses
    and other matters that arise from running an SMSF.

    so, my opinion is do nothing keep in high interest paying account

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