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Future Assist Adviser talks SMSF benefits

Announcement posted by Future Assist SMSF 05 Mar 2014

WHats all the hype about self managed superannuation? - Future Assist

Self managed superannuation funds or SMSFs are fast growing in popularity, the latest figure show that 31% of all Australian retirement savings is held through self managed superannuation funds, so that’s more money held in self managed funds than in industry funds or retail funds.

Why so many people choosing self managed super?

There are three main reasons why people go down this path, firstly

·       * People are looking for more control,

·       * They are looking for greater flexibility,

·       * And they are also looking to control their cost.

So starting with control, we think it’s natural that people are going down this path, for most people superannuation is if not their most substantial asset, then the second largest financial asset behind the family home, so we think that it’s just natural that people are going to want a larger say in how that asset is managed.

Secondly, self managed super funds are very flexible from a couple of perspectives, firstly from a tax planning perspective and also from an investment perspective. So starting with tax planning, once people get to age 55, there is a range of superannuation related tax planning strategies that people can look to implement which are going to save people tax and also help to boost their retirement savings. Self managed super funds are perfect vehicles for the implementation of these strategies because they are so flexible, but also from an investment perspective, look there is a full range of things you can invest in through the self managed super fund, so you can use local and international shares, local and international managed funds, you can use direct property, use can use cash term deposit cooperate bonds, there’s a real range there, so these provides a lot more flexibility than you’ll get through most of the industry and retail funds where you’re much more constrained in the sort of investments you can use.

Thirdly, as self managed super funds grow in value there can become a very cost effective way to manage your superannuation and in many cases they are far more cost effective than using retail fund and a lot of cases they are also more cost effective than using an industry fund. This is especially seen when family members pool their funds together into one family self managed super fund.

Remember, when outlining the steps of setting up an SMSF, the ATO does recommend in step 1 that you appoint an SMSF specialist to assist you with the administration and compliance of your fund.

Future Assist are Australia’s leading self-managed superannuation specialists and are able to provide you with licensed financial advice that comes from industry recognized professionals.

Speak to an Adviser today about your SMSF investment strategy or call us: 1300 118 618

IMPORTANT: The information above is general in nature and has not taken into consideration your personal goals, financial situation or circumstances. We recommend that prior to making any decision regarding your financial circumstances, investments, superannuation, SMSF or direct property investment, you should consult your licenced financial planner or adviser.