Advantages of Self Managed Super Fund
For most Australians, retirement is the main aim, but it also means no longer earning a monthly salary. The Australian government has taken a range of initiatives to enable people to save for retirement, the most notable of which is the implementation of mandatory contributions to retirement savings into Superannuation for an individual's working life in a low-tax environment. A Self-Managed Superannuation Fund (SMSF), which allows people to directly monitor and manage how their retirement funds are invested, is a common way to save for retirement. However, SMSFs are governed by a large number of rules and regulations, which puts a great deal of responsibility on someone managing one and therefore may not be appropriate for all. There are some main advantages of maintaining your SMSF: 1. Investment choice One of the key benefits to an SMSF is its discretionary investment and a more varied selection of SMSF members' investment options, in contrast to industri...