I am currently in progress of setting up SMSF through ESuperFund and would like the advise of stackers as to what percentage of Gold to Silver they would purchase. Taking in to consideration the fact I am in my early 30's retirement long long way off. I was thinking of an investment of 40% Gold, 40% Silver, and 20% other investment options. I would like others opinions as to % and also what spread of Bullions Bars, Coins ect they would choose. Other considerations would be cost of insurance allocated, Non allocated, which may impact on the percentages of each to hold? Regards Dags
Just a quick caveat - this board is not able to provide "financial advice" per se, only general discussion of the question.
I own a 66% Silver, 33% gold split since I set one up. Similar age, long way to retirement. I take a conservative approach as I would be moving into property later when the sums are right. Did not take any time to investigate shares, so I am staying away from it. Slam PS: So far its looking good on paper, the Silver alone has made around 8 years worth of annual fees. I'd be lucky to even get 2 times with a normal fund.
Cash might be useful too, as would shares but I think you'd have to either do a lot of homework on shares yourself or maybe subscribe to one of those share trading newsletters. You need to be able to buy and sell stuff not just buy and hoard, in order to pay admin fees etc, I wouldn't like to be paying management fees out of my "own pocket" - it's a business, it has to run like a business. % are always difficult, someone else may have their own formula to help them make a comfortable decision (based on say the GSR) I don't yet, so I'd go 40 - 50% Ag, 20 - 30% Au, 10 - 20% shares, 5 - 10 % cash. That's 110% if you total all the bigger numbers up. Trade portions of your silver and shares to buy gold and different shares, and to pay fees, keep doing that each year, vary the asset allocations if need be each year, use the cash to buy specials or if you need to pay fees (hopefully not), keep selling shares and silver, steadily building gold reserves and then one day, hey presto you sell the lot and buy a shopping centre, or a block of flats, a small country or even a house with your gold and your SMSF has a nice earner each year in the form of rent. When I set up my SMSF, I'm going to buy bulk not pretty - cast gold, PM or Ainslie or ABC ag bars, monster boxes. And take delivery in physical.
I have an eSuperfund SMSF and I opened a PMDS account with the Perth Mint. I left $2k in the superfund to cover fees and insurance, 60% went into unallocated silver and the rest is in shares. Unallocated means you don't have to choose between coins and bars, storage is also cheaper.
Hi just seeking some advice on setting up a SMSF. The general consensus around the office is that during the audit that is required, they will access your bank accounts. I would of thought that handing over bank account statements, as well as receipts of any bullion purchased, and any storage receipts would be enough to satisy the audit process. Am I correct in assuming this??
They will only access the default ANZ account and if there is anything out of the ordinary they will contact you for the receipts. This is to help automate the process at their end instead of being swamped by a million paper statements.
