Many years ago I remembered reading about a study on the percentage of Harvard business school mba graduates that wrote down and maintained an ongoing business plan through their working life. http://sidsavara.com/personal-produ...ke-ten-times-as-much-as-the-other-97-combined The SMSF model that has developed in Australia evolved intially from small private employer funds that use to be called excluded funds before the SIS act in 1993. The SMSF model of a trust ideally with a coroprate trustee where all members are directors is a unique model that I am unaware of anything like it in the rest of the world. One of the few things the regulators have got right with SMSF's is the codifying of the requirement of a formal written business plan that must be updated each year with the audit of your fund. The gloomy forecast for that 80% of the population over 65 that now end up on the meager old age pension is that in 20 years time the percentage at age 70 will be the same. This shocking statistic is an indication of the stupidity of the masses aided and abetted by self serving politicians, banks, the insurance industry, retail super funds and the industry funds who want to control our lives. For at least 60% of the 80% under the age of 50 who are not transitioning into a SMSF with a corporate trustee now deserve the misery and suffering that will befall those that believe our government is there to look after us. The government has never been there to help you, they are there to serve the interests of the few. For those who have jumped into SMSF but let their advisers write and manage your investment plan I have nothing but contempt for you and your advisers. Kind Regards non recourse
