Questions of the week – XTBs and Esuperfund

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Question: We would really appreciate some expert advice; we're in a financial mess at the moment, but it may be salvageable with the right plan. My husband and I have approx. $86,000 in an SMSF. We are using Esuperfund to do yearly accounting as they charge a low flat rate of around $700.00. We are self-employed, husband is 73 and I'm 66, we anticipate working another five years+.

We owe around $145,000 on our home, and have around $10,000 in credit card debt through paying off our children's debts. We were using one of the share buying/selling advisory newsletters to invest in shares, and it worked well for a while, but for the past two years it has been losing money.

My question is, should we consider moving to a managed fund, or would the yearly fees be too great for the small amount we have in super? Finally, if you think it's a good idea, is there a fund you would recommend please?

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