---
title: 53 Should You Set Up A Self-Managed Super Fund? What You Need to Know Before You Begin
description: Self Managed Super Funds(or SMSF’s) can be seen as the next step when it comes to taking ownership of your money. They may carry a certain appeal, being more control, more flexibility, and the ability to make your own investment decisions. For some people that feels empowering however for others, it can feel complex and slightly out of reach.
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---
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May 10, 2026, 12:00:00 AM
# 53 Should You Set Up A Self-Managed Super Fund? What You Need to Know Before You Begin
 [Naomi Holmes](https://www.hermoneymatters.com.au/blog/author/naomi-holmes)
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Self Managed Super Funds(or SMSF’s) can be seen as the next step when it comes to taking ownership of your money. They may carry a certain appeal, being more control, more flexibility, and the ability to make your own investment decisions. For some people that feels empowering however for others, it can feel complex and slightly out of reach.
In this episode, Naomi and Helene unpack the reality behind SMSF's. They explore what they are, how they work, and why many Australians are drawn to them. They also explore the psychology behind the decision and the good, the bad and the very ugly that people need to know before starting an SMSF.
This is a highly practical conversation designed to help you understand whether an SMSF genuinely fits your needs. It is important to be aware of both the benefits and the responsibility that is involved in running your own super fund.
In This Episode, We Cover:
- What an SMSF actually is and what it means to be a trustee
- The psychology of the self-directed investor and why control can be appealing
- The main reasons people start SMSFs
- The key benefits of SMSFs, including control, flexibility and investment choice
- The disadvantages, including cost, time commitment and compliance risk
- The realities of being responsible for your own investment performance
- The risks associated with running an SMSF
- Who an SMSF is suited to and why many people do not need one
An SMSF is a structure that requires time, attention, and responsibility. Before you go down this path, take a step back and ask whether it genuinely fits your life, your interest, and your level of commitment.
[podcast](https://www.hermoneymatters.com.au/blog/tag/podcast)
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Naomi Holmes is a Corporate Authorised Representative of Alethia Partners Pty Ltd (ABN 98 676 423 117), which holds Australian Financial Services Licence (AFSL) No. 557729.
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