Mitch Moroney Show #7 - Darren Newton Part 3

Mitch is joined by Darren Newton in today’s episode. Darren is Director of Wealth Management West, a company that specializes in self-managed super funds. Wealth Management West is committed to acting in their client’s best interests and offers a wide range of services and advice to help secure your financial future.

Darren joins Mitch today to discuss the current state of super funds during the COVID-19 pandemic, common investments, and common ways people can misuse their SMSFs and the repercussions.

Stay tuned to hear about:

• How SMSFs are performing during the pandemic
• Putting people in control of their money
• Common investments Darren sees in SMSFs
• The current surge in precious mineral investing
• The risks of cryptocurrency investments
• The benefits of residential and commercial property investment
• What happens if a member dies?
• What to do if a business partnership dissolves
• The importance of estate planning
• The difference between the accumulation phase and the retirement phase
• What happens to your fund if you decide to go back to work?
• Darren’s commonly seen SMSF horror stories
• Serious repercussions of fund misuse
• What is the line between a complying and non-complying fund?
• Intelligent investment and asset assessment
• Changes Darren hopes to see in the next 10 years
• Why SMSF education is essential
• How AI systems are bringing down costs
• Understanding fees

Mitch finishes the podcast by asking Tom a quick 5 questions:

1. What are the most important qualities in business?
2. What superpower would you have?
3. What advice would you give your younger self?
4. Who’s your favourite footie team?
5. What is your favourite book?

Wealth Management West