Hi folks Just a reminder that it's meeting time! Invitations have been sent to those on my email list and also to those who have registered on the website. As I still have some people on the group website with incomplete registration details, and some in my email group who have not yet registered on the site, I've sent this email to both, so apologies if you get 2 notifications. Looking forward to catching up with everyone. Cheers XB
Think I'll actually be able to make this one - cheers XB! Looking forward to seeing some of the Brissy crowd - not been sorting out a meet as I've had some extremely busy months recently!
Any progress in investing in art? I contacted an artist who was keen but thought it would be fraught with difficulty. I think if I can get an art for rent company on board to begin with then it might be easier but if that is an option I would rather do it outside of the SMSF so I could possibly enjoy the art in my own home if it didn't rent very well.
If the value of the artwork is less than 5% of your SMSF assets, you could hang in your home Jis? Although the new SMSF laws may circumvent that. :/
True, I think I still have to charge myself the market rental rate, or something like that. I am pretty confident that any individual art I buy will be less than 5% of the SMSF. My only point is that if it was a worthwhile investment then why would I need to use the SMSF to achieve it? Less regulations and easier to manage without the Gov's guidelines and moving goal posts. The only reason I would want to do it via SMSF is so I don't risk 'my' money on a poor investment choice! Plus if I bought it with my own money I would never get around to renting it out, with a SMSF at least I would be forced to have a plan in place first!
It just doesn't feel like my money! Along the lines of "If you can't hold it you don't own it!" Looking forward to the meeting, it has already helped heaps... After the first meeting I set up eSuperfund After the second I looked at the caps and upped my voluntary contributions After the last meeting I set up an unallocated account with Gold Pelican so I can do some gold:silver swaps. No idea what will come of tonight's meeting but at the very least, the steaks are nice!
I did the opposite! After the first I cancelled my voluntary contribution. I see a SMSF as my holding it, for the best definition of holding it there is right now!
I would really love to join you guys and pick your brains but I work afternoon shift so mid-week meeting are impossible for me to attend. Is there any chance there could be a weekend meeting in the near future?
I Increased my contribution to reduce my tax component (which it has by about $200 a pay cycle) and so I could buy silver at a discount (which it is by about 9%). Instead of buying silver with my after tax take home money I now use that money to pay down the debt and I get my precious metal fix via the SMSF.