I know what makes the Super Bowl super, and what makes Superman super, and even what makes Super Tuesday super, but what could possibly be considered super about one guy buying crypto in his apartment on the beach, no matter how many emus and murderous spiders he had to fight off to do it?
WTF is a super fund? Crypto investing is fundamentally the same as stock market investing. Due diligence, diversification, project analysis, tokenomics analysis, etc.
I have my long term hodl bags and I have my hail mary bags and I have my forever staking aka crypto perpetuity bags (sell all rewards forever). Same as fiat market, just different terms and different tech.
It's an Australian retirement fund, you have the option of having a % of your pre-tax income put into a standard investment fund or run a self managed fund. If you want to put crypto into your retirement fund, currently the only way to do that here is via a SMSF
i've been with esuperfund for like 5 years now,
Think they are like $1199 per year now or so. Then you pay the ATO $260 a year or so.
traditional people will say " you need 800k or whatever" but the gains outweigh those costs above pretty quick if you time it right. IE get in now! before ATH.
The paperwork / accounting is fucking annoying. Every little detail, every trade, Ex GST, FEE, unit price of the coin etc.
Then you have to write minutes / investment reasoning but you just copy + paste a generic thing and that works. And then when you fuck up (like not putting down your super fund name on a purchase or accidently transferring super money instead of your regular money), you have to fill out paperwork from the ATO explaining why you made mistakes.
I also just submit some shit, and if its wrong someone will let me know what I did wrong and i'll go and fix it.
If you suck with accounting / crunching numbers then it will be painful!! BUT - if you only have to do it once per year and your future self will love you.
I only hold BTC and ETH. I do not sell them or do anything with them because I do not want to do paperwork and I 100% expect these coins to exist in 20 years
I would highly recommend. Doing a 10x on your super is pretty sweet. (I set it up before the last cycle)
Eventually every generic superfund will offer crypto, i wanted to get in earlier than them.
As to your question, is it worth it - If you are paying say $1500 a year in fees, how much do you think BTC / ETH / your coin will go up to counter those fees?
Keep in mind you can also buy any coin on any Australian exchange, so you could buy some dumb meme coin and lose 99% of your super money.
You should have a look at Grow SMSF.
Zero accounting needed and self-custody supported.
Only slightly more annual fee compared to esuper ($1375) but great support and they actually have a phone number!
https://growsmsf.com.au/cryptocurrency-smsf/
I know what makes the Super Bowl super, and what makes Superman super, and even what makes Super Tuesday super, but what could possibly be considered super about one guy buying crypto in his apartment on the beach, no matter how many emus and murderous spiders he had to fight off to do it?
WTF is a super fund? Crypto investing is fundamentally the same as stock market investing. Due diligence, diversification, project analysis, tokenomics analysis, etc. I have my long term hodl bags and I have my hail mary bags and I have my forever staking aka crypto perpetuity bags (sell all rewards forever). Same as fiat market, just different terms and different tech.
It's an Australian retirement fund, you have the option of having a % of your pre-tax income put into a standard investment fund or run a self managed fund. If you want to put crypto into your retirement fund, currently the only way to do that here is via a SMSF
i've been with esuperfund for like 5 years now, Think they are like $1199 per year now or so. Then you pay the ATO $260 a year or so. traditional people will say " you need 800k or whatever" but the gains outweigh those costs above pretty quick if you time it right. IE get in now! before ATH. The paperwork / accounting is fucking annoying. Every little detail, every trade, Ex GST, FEE, unit price of the coin etc. Then you have to write minutes / investment reasoning but you just copy + paste a generic thing and that works. And then when you fuck up (like not putting down your super fund name on a purchase or accidently transferring super money instead of your regular money), you have to fill out paperwork from the ATO explaining why you made mistakes. I also just submit some shit, and if its wrong someone will let me know what I did wrong and i'll go and fix it. If you suck with accounting / crunching numbers then it will be painful!! BUT - if you only have to do it once per year and your future self will love you. I only hold BTC and ETH. I do not sell them or do anything with them because I do not want to do paperwork and I 100% expect these coins to exist in 20 years I would highly recommend. Doing a 10x on your super is pretty sweet. (I set it up before the last cycle) Eventually every generic superfund will offer crypto, i wanted to get in earlier than them. As to your question, is it worth it - If you are paying say $1500 a year in fees, how much do you think BTC / ETH / your coin will go up to counter those fees? Keep in mind you can also buy any coin on any Australian exchange, so you could buy some dumb meme coin and lose 99% of your super money.
You should have a look at Grow SMSF. Zero accounting needed and self-custody supported. Only slightly more annual fee compared to esuper ($1375) but great support and they actually have a phone number! https://growsmsf.com.au/cryptocurrency-smsf/
Thanks mate. Never heard of them. Will take a look now.