About the study
Money commissioned a survey of an independent panel of 1,006 Australians. The survey sought to understand the avenue Australians consider to be the most profitable and secure long-term investment across property, shares, gold, cash (e.g. via a savings account) and fixed interest.
The survey also uncovered whether Australians would set up a self-managed super fund and the factors that may hinder them from doing so.
Would Australians consider investing in direct property, such as a self-managed super fund (SMSF)?
41% of Australians said they would consider investing in direct property – such as a residential apartment – in a self-managed super fund (SMSF).
A higher proportion of younger Australians would consider investing in a SMSF, at 58%. This is compared with 49% of those in their 40s, 30% in their 50s, and just 20% of over-60s.
Which types of property would Australians invest into a super fund?
Two-thirds of respondents (66%) said they would be most interested in investing in residential houses in their SMSF, while 39% said residential apartments, and 34% said commercial property. ACT residents are more likely to invest in a residential apartment in their SMSF, at 71%, followed by 41% of NSW residents, and 33% of Victorians.
An equal 71% of under-50s were more interested in investing in residential houses in their SMSF, followed by 62% in their 50s and 59% of over-60s.
Would Australians consider establishing a self-managed super fund in the future?
An SMSF allows members to invest in direct property, choose the property they invest in, and control their own fund as the trustee. 41% of respondents said these factors make it attractive for them, with 33% saying they would consider establishing one in the future. 8% of respondents said they already have such a fund.
Younger generations are more interested in SMSFs, with 53% of under-30s, 48% of those in their 30s, and 46% of 40s saying they would consider establishing a SMSF in the future – compared with just 23% of those in their 50s and 8% of over-60s.
Across the States, 36% of NSW residents said they would consider establishing a SMSF in the future, compared with an equal 31% of Victorians and South Australians, and just 24% of ACT residents.
Why haven’t Australians already set up a self-managed super fund?
Among the respondents who do not already have a SMSF, 28% said they lack funds in their existing super. A further 19% of respondents admitted they lack good advice to get them started, 18% said they are not focused on their retirement yet, and 18% said they did not have the time or energy to set it up.
Across the states, an equal 31% of Queenslanders and West Australians said they have not set up a SMSF due to a lack of funds in their super, compared with 20% of ACT residents.
Younger Australians said they have not set up a SMSF due to not being focused on their retirement, with 27% of under-30s citing this, followed by 22% of those in their 40s, and compared with just 6% of over-60s.
