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Add control, security and more investment options to your retirement for the price of a road trip.
More and more Australians are choosing to take control of their super within self managed super funds says David Evers from local accounting and financial advice firm Robson Partners.
About one quarter of all superannuation in Australia is held in Self Managed Super Funds – in December 2009 this reached $384 billion according to the Australian Prudential Regulation Authority.
The graph below shows just how far the market has grown since 2001:
David Evers says, “Some people call it a ‘DIY Super Fund,’ and as the name suggests it is a superannuation fund that you set up and manage yourself.”
Unlike an employer or retail super fund, you are responsible for investing the funds and managing the administration.
“But like any other super fund, you generally cannot access the money until retirement,” says David Evers.
“A self managed super fund offers flexibility and investment choice for those who have the time and resources and can also be beneficial for family members who want to manage, control and pool their retirement savings.”
How does a SMSF work?
- The fund must have less than five members, but of course may have just one. Each member must also be what is called a “Trustee”.
- Trustees must take responsibility for control over the assets in the fund. They can invest in a range of assets including shares, property, managed funds or cash. The Trustees of the fund are responsible for investing and managing the fund in compliance with super, tax and trust laws.
- Usually an accountant and financial adviser will assist in the set up and administration of your fund.
To take control of your super and find out all of the options that you COULD BE missing out on, Click here and PRE-REGISTER for a complimentary 1-on-1 session with one of our advisors, who will show you what is possible.
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David Evers is an Authorised Representatives of Count Financial Limited. Robson Partners is an Authorised Representative of Count Financial Limited, AFS Licence number 227232.
