Unlocking Potential: Self-Managed Super Funds Explained

Are you investigating SMSFs and wondering if it’s the right option for you? Before deciding whether to set one up, here are a few key considerations.

Understanding Self-Managed Super Funds

What exactly is an SMSF? It’s a vehicle that allows you to take control of your retirement savings strategy. Unlike regular super funds, an SMSF puts you in charge, allowing you to choose where your funds are invested. From property investments to shares, you have the flexibility to tailor your portfolio to align with your financial goals.

Benefits That Set SMSFs Apart

• Control & Flexibility: With an SMSF, you call the shots. You decide where your money goes, giving you the freedom to invest in areas that resonate with your long-term plans.
• Diversification: Explore a wide array of investment options beyond traditional funds, diversifying your portfolio to spread risk and optimise returns.
• Reduced costs for SMSF funds: Nowadays SMSFs are a much more cost-effective. Most of the ongoing costs of running an SMSF are fixed. This is different to industry or retail super funds where the cost is usually taken as a percentage of your overall balance.
• Tax Efficiency: Enjoy potential tax benefits, including the ability to control the timing of contributions and pension payments, potentially reducing tax liabilities.

Are SMSFs worth it?

The question “is it worth it?” will depend on your individual circumstances and what your goals for retirement are. If you’re wanting to take control of your retirement savings and like having the flexibility to invest in assets of your choice, then an SMSF may be right for you.

How Versa Advisory Can Assist

With so many rules and regulations surrounding super, it’s important to do things right from the start and that’s where our dedicated “super” team come in. 

We can help by setting up your SMSF in conjunction with the advice from a financial planner, and we are also able to assist with ongoing compliance each year. All SMSFs need to pass an annual audit by an independent auditor, which we organise on your behalf.

Ready to take conversation futher?

Contact us:
Versa Advisory – Accountants in Melbourne
Website: https://versaadvisory.com.au
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Phone: (03) 9088 2433
Email: hello@versaadvisory.com.au