Q: I’m eager to understand the pros and cons of establishing a self-managed super fund. I’m 44, have $450,000 in an education super fund, earn $110,000 in a government job, and have $35,000 in shares. My husband, 47, has $550,000 in super and $50,000 in shares. We have no children, good equity in our primary residence and are not afraid of hard work, but like the idea of retiring earlier than 67, as neither of our families have a history of longevity.

Our financial adviser has encouraged us to establish an SMSF, and I’m concerned about the onerous obligations in going down this path, particularly if the only asset class we plan to invest in is property. I would like to educate myself to arrive at a considered view before I decide what to do. Justine