More punter than investor
QMy husband and I are retired (69 and 67). We have a SMSF which comprises $650,000 in CBA shares and $615,000 in fixed deposit. I have $80,000 in VicSuper and AustralianSuper. We also have shares in two apartments outside super. These generate only about $5000 each.
Our dilemma is whether the shares are going to continue to pay a decent dividend and fixed deposits to pay nothing. We are contemplating keeping the shares, as it is too late to sell at a profit, and putting cash into an industry fund. Is it practical or viable to run two funds paying two sets of fees. Or should we sell shares, cut our losses and put the whole lot in an industry fund.
We are sick of worrying over the whole issue of superannuation and its complications, and also paying for advice where everyone has a different opinion. But while we are procrastinating we are not generating enough income.
Crikey, Glenda, you are more punters than investors – 50% in one share and the rest in a term deposit is not the way to go. And you are paying high SMSF fees to hold two investments. I also note you are worried about this. I would be too.
If my wife Vicki and I were in your situation we would shut the SMSF, after taking advice, and put the money in a very low-fee balanced fund, giving us a terrific level of diversification, very low fees and little worry.
Your accountant will hate the idea – he or she will lose fees, so they are hopelessly biased. See an independent person.