Most everyday families are content with an industry or retail fund where the majority of the work is taken care of by a professional fund manager. But for those who want more control over their superannuation investments, a self-managed super fund may be the solution.
A self-managed super fund, which is also known as an SMSF, gives you greater control over exactly which investment choices your super fund is utilising when compared to retail or industry funds.
The trade-off:
The need to be vigilant and actively involved with your fund on every investment decision. There are also significant costs – such as compliance, accounting and planning – associated with setting up and running an SMSF. This means they are usually only suitable for those with large balances who can ensure the investment growth exceeds the related costs.
Despite self-managed being in the name, an SMSF is not something that should be attempted without professional guidance to support you.
An SMSF is best suited for those:
- With over $200,000 in their current super fund
- Who want to use their super to invest in property
- In possession of a clear financial plan for how to best manage their SMSF
- With a firm grasp of investment knowledge
- Who have the help of a team of expert financial advisors to guide them
Because of the costs associated with an SMSF, the help of a professional financial advisor has never been more important.
If you’re thinking of setting up a self-managed super fund or are seeking advice on how to better manage an established fund, our team of expert SMSF advisors are here to help.
We act as your go-to source of guidance when it comes to deciding whether an SMSF is the right option for you.
We can also help you set a clear plan for managing your SMSF that will ensure you’re on track to create your dream financial future.
Don’t let a lack of professional guidance endanger your financial future.
