It’s no secret that self-managed super funds give you greater choice over your super and retirement planning. Let’s take a look at some of main ways in which SMSF’s allow you to take control of your money.
- Investment Choice
Self-managed funds put choosing where to invest your money into your own hands, and the power of this should not be underestimated. Deciding where your money is being invested can determine how well your SMSF performs and by making smart investment decisions with the help of your financial planner, you will see great long-term results.
- Borrow to Invest
Have you considered purchasing an investment property to assist with your retirement planning? Property investments are a powerful wealth creation strategy that, when done correctly, can see you living comfortably in retirement or even retiring early! Many people choose to switch to an SMSF to allow them to purchase property within their super, where it otherwise may not have been possible.
- Diverse Investment Strategies
When you become a trustee of your own superannuation, you have total control of your investment strategy. This allows you to work alongside your financial planner or SMSF advisor to create a smart, long-term investment strategy, tailored specifically for you and your individual circumstances. Essentially, you have the power to personalize your strategy in a way that benefits you and you only.
- Manage Fees
Provided you have a suitable starting balance, opening an SMSF is a great way to lower your fees. The ongoing admin fees of your fund will be determined by how complex the fund is but the good news is, your independent financial planner can work with you to lower your fees whilst ensuring the fund is still performing great.
Contact D&M Financial Services today for more advice and information about setting up a self-managed superannuation fund today.