ADVERTORIAL: Maven Accounting, Why More Australians Are Considering an SMSF

AUSTRALIANS are increasingly asking an important question: who should control how their retirement savings are invested?

Industry and retail super funds remain suitable for many people.

Members generally select from pooled investment options and have limited influence over the individual assets purchased.

In more recent media announcements larger superannuation funds are being encouraged to invest in areas such as infrastructure, housing and energy projects.

Hence why some Australians are seeking greater personal control over their retirement savings and how it’s invested.

A self-managed super fund may be particularly suitable for people such as:

– The business owner who wants their SMSF to purchase suitable commercial premises and lease the property to their business under properly documented, market-based arrangements.

– The experienced property investor who understands property ownership and wants to include direct residential or commercial property within a diversified retirement strategy.

– The pre-retiree couple with substantial superannuation savings who want greater control over listed shares, term deposits, property and retirement income planning as they approach pension phase.

An SMSF can provide greater investment choice, transparency and flexibility.

Trustees can see exactly where their money is invested and make decisions that align with their own retirement objectives, rather than relying solely on the investment decisions of a large fund.

SMSFs involve trustee duties, annual accounting and audit requirements, ongoing costs and strict compliance obligations.

That is why, when considering an SMSF, it’s important to have sound advice from appropriately qualified advisors.

 

This article is general in nature and does not constitute personal or financial advice.

You should always seek financial advice to discuss how an SMSF may be appropriate for you.