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SMSF- Right investment strategy? - Business Mantra

SMSF- Right investment strategy?

When you manage your own super, you put the money you would normally put in a retail or industry super fund into your own SMSF. Being the trustee of a Self-Managed Super Fund comes with a lot of privileges regarding investment choices, but there are also several considerations to be aware of when making the decision.
• Time & Money
It costs time and money to set up an SMSF, and deal with day to day requirements of running your SMSF. There are also ongoing fees that you need to be aware of such as auditor fees and annual accounts and return preparation costs.
• Investment strategy
The investment strategy is the key component of every SMSF. The strategy should be tailored to the member’s needs, this includes age, employment status and retirement goals. The sole purpose of SMSF is to provide retirement benefits to the members.
If you do not have the right knowledge to make informed decisions, you could affect your retirement savings.
• Legal and administrative Responsibilities
Trustees of SMSF are responsible for the administration, compliance, development and maintenance of their investment strategy. They just need to adhere to all the SMSF laws and regulations. Failure to meet the obligations under super and tax laws can lead to the penalties and disqualification of the trustee.
• Insurance needs when setting up SMSF
If you have elected to run your own SMSF, chances are you’ve also taken a proactive and responsible approach to insurance. Regardless of whether you already have life insurance outside super or in a pre-existing super fund, when you start an SMSF you need to jump through a few hoops regarding your insurance strategy.
Who can help you for all the above and take all the responsibilities for your SMSF?
WE can.
SMSF is bit complex and to maximize the benefits and administer the structure properly professional advice is required. Get in touch with our expert team and find out more.

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