Self Managed Super Funds – SMSFs
Self-managed super funds (SMSFs) allow people to control their own super investments for their retirement. If you set one up, you’re responsible for running it in accordance with the law and reporting to the ATO on its operation.
Managing your own super is a big responsibility. There are strict rules that govern how you can use a self-managed super fund (SMSF), how you can invest your money and when you can get at it.
Before deciding whether to manage your own super, think about the following:
Consider your options and seek professional advice
If you’re not confident you can get a better result from an SMSF, you may be better off with a different type of fund.
Make sure you have enough assets, time and skills
To establish a competitive fund you need considerable super savings available to invest and be willing to put your own effort into managing the fund. At times you might need to consult with professionals and advisers, which adds to the cost of managing your fund.
Understand the risks and laws
All financial decisions carry risk, so it’s important to think carefully about your investment options to balance the level of risk against the level of ?nancial return. You also need to be sure your super investments are legal.
“Australian Govenment – Understanding your money – SMSF”
If your Self Managed Super Fund Trust Deed allows it, you can set up your Life Insurance and Income Protection Cover to be paid for through your Self Managed Super Fund.
To make an appointment with an adviser to discuss SMSF requirements contact us directly on (07) 3170 3707 or click here to email us.
146 Bloomfield Street, Cleveland
PO Box 1319, Cleveland QLD 4163 4163
Phone: 07 3170 3707
ABN: 16 074 508 071
Monday-Friday: 8:30am to 5pm
Coopers N’Cents Financial Services ABN 16 074 508 071 trading as
HFB Wilsons Pty Ltd – ABN 63 616 059 324 as a Corporate Authorised Representative
No 253397 of Clearview Financial Advice Pty Ltd
AFSL No: 331367 ABN: 89 133 593 012 Website: www.clearview.com.au