Q: I am 38 with a $180,000 balance in an industry super fund. My wife recently migrated and started working as a sole trader. So far, she has no super. I have been thinking about opening a self-managed super fund in both our names and purchasing an investment property. I’m planning to transfer about $100,000 to the SMSF from the industry fund and get some contributions from my wife’s earnings. My income is about $140,000 plus super. Is it a good strategy to have an SMSF for property and an industry fund for shares? Tapan

A: If you take the time and trouble to research it properly, investing in direct property though a self-managed super fund can be a profitable way to accumulate wealth for your retirement.