Are you ready to take full control over your super?
Self managed super funds (SMSF) have become a popular way for Australians to build their retirement savings.
In fact they’re now the fastest growing part of the superannuation market, with more than one million of us being members of an SMSF.
Thousands of SMSFs are being established every year and, with more than half a billion now invested, they represent about one-third of Australia’s total superannuation savings.
According to the Financial Adviser of Avante Financial Services, the popularity of SMSFs can largely be attributed to the fact that more and more people are deciding they want to have greater control over their investments.
Note: SMSFs are not appropriate for all investors due to the time, cost and responsibility involved in managing an SMSF and because they are not cost competitive for lower balance accounts.
“People want the flexibility to make their own decisions about what to invest in, and the ability to change direction quickly, if needed”.
Technology is another factor that has contributed to the growth in self managed super funds. For example, the new ANZ Self Managed Super service gives fund members instant access to the performance of their investments on mobile devices, anywhere and at any time.
Technology has also simplified the management of ongoing and changing SMSF compliance tasks.
“Members of SMSFs have annual reporting obligations and other rules they need to stay on top of, and these rules don’t apply to the average retail super fund member".
“A professional, online administration service can be an affordable option that reduces some of the legwork that was previously required of SMSF trustees and their members.”
If you think a self managed super fund could be right for you, or if you’re simply interested in understanding a bit more about them, you should get in touch with Avante Financial Services.
An Avante adviser will talk to you about your personal financial situation and your future goals and will help you decide whether an SMSF is suitable for you. This will involve a discussion about the benefits and challenges of running your own super fund, including set-up and operating costs and ways to make it easier than you might think.
Are you ready to manage your own superannuation? Find out for yourself by booking an appointment with Avante Financial Services on 1300 788 650.
