In July last year my wife and I commenced an allocated pension. Since then we have drawn approximately $60 000 as pension, our FP and the Wrap Account manager have drawn about $12000 and the funds they put us in have lost more than $100 000. So I am going to move into my own SMSF - I think it is a fair bet that I won't do any worse than they have. But I have minimum experience investing and am hoping that people with their own SMSF's and in the pension phase (or anyone else) can offer their views on what I am planning.
Initially I plan to cash out of all funds and place the money in cash. The amount of money involved is about $1m. I know that this turns paper losses into real losses but figure that I need to start preserving capital. I will then start purchasing blue chip Australian equities (with an emphasis on dividends) up to 10-20% of the total, with a view to extending this to 30%. Further down the track I may look towards some property.
Looking forward to any thoughts you may have.