When it comes to transparency, there is really no competing with a self-managed super fund. Transparency is a key factor that drives people to make the change from retail and industry funds to SMSF’s, in particular those of us who are heavily involved in retirement planning and wealth creation.
It’s easy to forget that super is actually your money. It usually just sits in a fund, invisible untilyour once a year statement is mailed out. But the fact is, your super is one of the largest investments you will ever make and plays a major role in your financial freedom when the time comes to retire.
Retail and industry funds are fine for many people. Some funds even allow you to make a small amount of investment choices. But how much do you actually know about your investments? Do you know how much of your money is being invested and where? Do you know the investment strategy your fund has in place to ensure your money is performing at its best?
This is the issue with retail and industry funds. Many lack transparency so you are left having to place a whole lot of trust that the people managing your money are making the best decisions that will benefit you in the long run.
When you transfer your super to an SMSF, you gain a whole lot of power over your super and, inevitably, power over your future. You can see what is happening with your investments, right down to the cent and have the ability to move your investments if share prices drop or interest rates change which is why more and more Aussies are making the switch to SMSF’s. In fact, SMSF’s are now the single largest superannuation sector in Australian with well over 1 million members and more than $700 Billion in assets.
D&M Financial Service is based in Melbourne and services surrounding areas. Our independent financial planners can help you make the switch to an SMSF today.