Thinking about setting up Esuperfund + Custodian Vaults for $60,000 PM

House said:
Five years ago I was pretty much in the exact situation, reading Rickards etc and going to go all in... Until someone wiser and far wealthier told me not to. So very, very glad I heeded that advice. But good luck :)
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I certainly agree with that sentiment, but in the current climate of record high share markets, record high property prices, and a grim looking global economy + a Trump wildcard, I wouldn't blame anyone for switching to all cash/metal for the next few years.
Upside is if GFC2 happens you'll have plenty of cash to buy bargains.
Downside if you might miss a continued bull run and short term compounded returns.
 
Don't put all your eggs in one basket.

There are a sector of people who think like Rickards... and if everyone is thinking alike, then someone's not thinking.
 
Go all in~
Why not?
Don't stand to loose much
The climate of property bubble and a crashing AUD dollar would put you in a sound financial position all the while holding physical gold and silver.
The only thing I would suggest is keep your holdings in smaller ..."divisions".. to improve your liquidity market and potential to diversify if the above crash.
Very easy to manage physical in your SMSF and an extremely low risk investment compared to other options at present.
Beware confirmation bias.
Good luck
REDBACK
 
Shop around for alternatives to eSuperfund. They have strict rules regarding compliance which are not consistently enforced, until the day they enforce them - and then it's see you later and you're left with "no correspondence will be entered into".

They are a budget mob who provide a budget service.
 
REDBACK said:
Go all in~
Why not?
Don't stand to loose much
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If you aren't earning money in real terms (your asset increasing at least CPI/Inflation), you are losing money. So you only have money to lose.

As Ainslie say, "Balance your wealth in an unbalanced world."

If even the people selling you the product tell you don't go all in.... so maybe don't go all in.

Maybe... just maybe... you are right and this is the single best investment to be in. But if almost everyone in the world is wrong... maybe they aren't. A hell of a lot of people have a hell of a lot of interest in keeping the economy going at almost any cost, even if they have to take extraordinarily damaging steps to keep things going as-is.

Just make sure you set specific check-points that will "confirm" whether your beliefs are valid or not (i.e. hold your sources to their predictions over a specific period).
 
Oh - and you can't have coins, they would have to be NOT held by you, they would need to be in bullion storage with insurance. The stupid tax man insists that you can't hang onto it because it is a tax for your retirement, not your asset that you control and can benefit from. I'm serious - if you buy an investment car it is illegal for you to drive it to a garage for servicing. If you own investment art it must be locked away and NOT on your wall. WTF? What does the government have to gain from pulling this crud? Super sucks.
 
mmm....shiney! said:
Shop around for alternatives to eSuperfund. They have strict rules regarding compliance which are not consistently enforced, until the day they enforce them - and then it's see you later and you're left with "no correspondence will be entered into".
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What do you mean by this: "strict rules regarding compliance which are not consistently enforced, until the day they enforce them"?

Any suggestions on setting up my SMSF? I imagine it would be very simpke, $55-60,000 in metals, some cash, maybe a few thousand, in a savings account for fees and buffer or for buying a few more bullion.
 
Phil_Stacker said:
Oh - and you can't have coins, they would have to be NOT held by you.
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So I can only buy gold and silver in cast bullion form? Does the weight matter? Can I buy cast metal in 1 ounces?
 
placeholderz said:
What do you mean by this: "strict rules regarding compliance which are not consistently enforced, until the day they enforce them"?
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It means they have strict automated process for doing things online which is why they are cheap.
I've had few issues with them though (just in terms of a commercial property purchase), no issues with metal.

Any suggestions on setting up my SMSF?
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Use esuperfund, it's by far the easiest solution to get going. IF you don't like them in the future then just get someone else to do your compliance and return, you are locked into them.

I imagine it would be very simpke, $55-60,000 in metals, some cash, maybe a few thousand, in a savings account for fees and buffer or for buying a few more bullion.
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It is easy for someone who knows what they are doing. For the average Joe, not so much.
 
placeholderz said:
So I can only buy gold and silver in cast bullion form? Does the weight matter? Can I buy cast metal in 1 ounces?
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No ,it can be cast or minted bars, or blobs, or rounds. Just buy any cast or minted bar or round you like.
Weight does not matter.
 
placeholderz said:
mmm....shiney! said:
Shop around for alternatives to eSuperfund. They have strict rules regarding compliance which are not consistently enforced, until the day they enforce them - and then it's see you later and you're left with "no correspondence will be entered into".
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What do you mean by this: "strict rules regarding compliance which are not consistently enforced, until the day they enforce them"?
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Like giving them a phone call to ensure that my investments were within their guidelines and told "Yes they are", then getting a letter from them at tax time saying they have closed my account for breaching their investment guidelines even though I was given advice by them that it was ok. No point taking it up with them as once they've made a decision they do not correspond.

Didn't cost me anything mind you, except a headache in rushing around trying to find a new accountant. In the end it was a good deal for me as they gave me the flick after my 12month free period with them.
 
mmm....shiney! said:
Like giving them a phone call to ensure that my investments were within their guidelines and told "Yes they are", then getting a letter from them at tax time saying they have closed my account for breaching their investment guidelines even though I was given advice by them that it was ok. No point taking it up with them as once they've made a decision they do not correspond.
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What investment(s) was this?

And yes, for those who are worried about such a thing, esuperfund closing your account does not close down your SMSF, your bank accounts, or anything else. It simply means you have to find someone else to file your return for you. Most regular accountants can actually do this.
 
Hey Placeholderz - just as an FYI i set up my own SMSF with a similar value to what you're discussing

If you want to chat about how it works re holding direct gold inside an SMSF and storing with Custodian Vaults - plus making sure you're compliant re insurance/valuations/ongoing reporting - then feel free to call through to ABC Bullion, and ask to speak to either myself, John Feeney or Greg Hudson

We work with a lot of trustees so can answer any questions you might have.

Cheers
Jordan
 
aleks said:
SilverDJ said:
Bullion Baron said:
Have you costed up the difference between a SMSF vs a super fund that allows you buy a physically backed ETF such as PMGOLD?
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The SMSF will cost:
https://www.esuperfund.com.au/fees/fee-schedule/new-smsf

$800 + $259 + $250 storage = $1309 a year. Not including the metal buy charge.
On a $60k fund that is 2.18% a year.
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This. 2.2% is a lot.
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Yes, it's a lot, but not if you believe your investments will be better than the super funds.
Also, it's pretty cool being able to access that money yourself, and for many that alone is worth the fee.
 
Do you mean control rather than access? As Bullion Baron has mentioned there are other cheaper options where do you have control over your investments.
 
aleks said:
Do you mean control rather than access? As Bullion Baron has mentioned there are other cheaper options where do you have control over your investments.
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Both access and control.
Sign the SMSF forms and a little while later you have access to a bank account with the cash. It feels pretty darn good. You can buy gold bars and sleep with them if that's your thing.
 
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