Self managed superannuation funds (SMSF’s) – also called DIY Super Funds – have become increasingly popular. While establishing an SMSF can give you greater control and flexibility when planning for your retirement, they also have extensive administrative and compliance requirements. It’s important to understand more about self managed super funds to determine if this option is right for you.
photo credit: Curtis Gregory Perry
A self managed superannuation fund may be suitable for you if you want to have more control over your investments and perhaps invest in assets that a retail superannuation fund can’t invest into. Whilst you can have more investment options in a DIY Super fund, it’s important to remember your main aim must be to build up your assets for retirement. A SMSF is just one way to accomplish this.
Self managed funds also have some additional estate planning options, although there can also be some complications in this area if your trust deed isn’t current.
In this section we provide some additional information on self managed super funds. This is an extremely complicated area of financial planning, and we encourage you to obtain professional advice before you make any decisions in this area.
We offer a complimentary initial financial planning appointment where we can meet with you and discuss the pros and cons of having a self managed super fund. Call us on 08 8364 0066 to make a time.
