There isn’t a certain age to start thinking about your future to plan for your retirement. Whether you’re in your 20s, 30s, or even approaching retirement age, it’s never too early or too late to start considering your superannuation and retirement planning.
At SF Advisory, we understand the importance of securing a comfortable and worry-free retirement. We provide comprehensive superannuation & retirement planning services customised to suit your specific needs and objectives.
In the process of securing your financial future, superannuation plays a crucial role. Superannuation, or “super,” is a way to save money for your retirement. Let’s break it down into the basics:
Effective retirement planning, especially with an SMSF (Self-Managed Super Fund), can be a game-changer for your golden years. It’s not just about stashing away money; it’s about strategically growing your wealth to ensure a comfortable life post-retirement. Especially in current times, where the average person lives longer and faces rising costs of living, planning for retirement has become more critical than ever.
Considering taking control of your retirement savings? Self-managed super funds (SMSFs) offer Australians an alternative to traditional super funds, overseeing more than $876 billion for over 1.1 million members as of June 2023.
However, choosing an SMSF requires careful consideration. While they provide greater investment flexibility and potentially higher returns through strategic management, they also come with added responsibility. Managing an SMSF involves strict adherence to regulations, meticulous record-keeping, and smart investment decisions. It’s crucial to evaluate your personal situation before opting for an SMSF. Those willing to dedicate significant time and effort to super management, with financial resources and investment expertise, may benefit from SMSFs.
Planning your retirement with an SMSF can be a smart move, but it requires careful thought and strategy. Here’s how you can go about it:
Selecting the appropriate superannuation & retirement planning service is a critical step towards securing your future. Here’s how to go about it:
SF Advisory ticks all these boxes and more. Our team of experts has a strong understanding of superannuation and SMSFs, bringing years of expertise to the table.
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Traditional super funds are managed by professional fund managers who invest your contributions according to their predetermined strategies. On the other hand, an SMSF gives you more control over your investments and lets you customise your portfolio to match your goals.
Through an SMSF, you have the freedom to select various investment options like shares, property, term deposits, and managed funds. This flexibility allows you to broaden your portfolio and potentially attain greater returns.
While there is no set minimum amount required to start an SMSF, it is recommended that you have at least $200,000 in superannuation savings before considering this option. This will allow for sufficient diversification and cover the costs associated with managing an SMSF.
Yes, once your new SMSF is set up, you have the option to transfer your current super balance into it. Seek guidance from your financial advisor or tax professional for the most beneficial way to do this.
Take charge of your financial future with SF Advisory. Our team is dedicated to offering personalised superannuation and retirement planning advice to help you achieve your financial goals. Get in touch today to begin preparing for a secure and comfortable retirement.
