Q: I am 77 and single with no dependents and have been running my self-managed super fund for nearly 20 years. I am a conservative “buy and hold” investor and basically do as little as possible to keep the fund ticking over. It’s worth around $1.7 million.

My short-term memory is no longer great, and I’m wondering about closing the fund before I find it too difficult to manage. Asking my co-trustee to take over day-to-day management is not an option. I could roll it over into an industry fund – or would it be simpler to cash it in and put it into a high-interest account? Would the income tax I’d have to pay outweigh the fund’s administration and accounting fees, which are around $15,000-$16,000 a year? – Magda