Self Managed Super Funds (SMSF)
Most us have recognised the beneficial aspects of superannuation, but typically people have only ever relied on the big retail and industry super funds to manage their money for them. However now, in these days of the do-it-yourself investor, many people are talking about self-managed superannuation as an alternative to your standard super fund. it is just like having an ordinary super fund except that:
- You manage the investment of your retirement savings, possibly with the help of a financial planner
- You are responsible for the administration, with the help of your accountant. must ensure you maintain records, prepare and tax returns
- Because you manage the fund, you tend to develop a greater appreciation of your retirement goals, plans and investment generally
Some of our clients run their own fund, with us as accountant preparing the paperwork and they, with their adviser, deciding on appropriate investment. Many feel they enjoy the freedom and sense of control over their destiny. Those with an interest in investment also enjoy making their hard earned dollars work hard for them and their retirement plans.