Friday 17 August 2007

SMSF Update

I deposited the cheque for my transfer into our SMSF today, and the current balance showing online in the SMSF bank account is now around $340K. The funds haven't been cleared yet, but I expect that will only take three business days (the transfer from our old super account with BT was via a Westpac bank cheque). Once the funds clear I'll switch $340K into the sub-account that is linked to our e*Trade account for the SMSF, and will then be in a position to invest in Vanguard's High-growth fund. If the market continues to drop early next week I may be tempted to wait and see before investing, but the risk with doing that is that there may be a sudden 'bounce' as soon as it appears that the worst is over. Then again, I'd rather wait a bit too long and buy in a few % above the bottom of the correction, than get in too early and watch the market correction continue down another 10%...

Copyright Enough Wealth 2007

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