Your Guide to Self-Managed Super Funds (SMSFs) - Part 1
Understanding SMSFs: 3 Key Benefits
A Self-Managed Super Fund (SMSF) can offer unique advantages compared to standard retail or industry super funds. Here are three key benefits:
Control and Flexibility: With an SMSF, you have complete control over where your superannuation is invested. This flexibility allows you to tailor your investment strategy to suit your financial goals and risk tolerance (but beware that with great power comes great responsibility! Check out our tips about 3 Risks to Consider Before Starting an SMSF)
Diverse Investment Options: SMSFs provide the opportunity to invest in a wide range of assets, such as property and collectibles, giving you the potential for higher returns.
Cost Efficiency for High Balances: An SMSF can be cost-effective for those with large superannuation balances, as the fixed costs of running the fund are spread over a larger asset base, potentially reducing overall fees.
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Feeling ready to take control of your super contributions? Schedule a consultation with a Brightday financial adviser. Our experts are here to help you navigate the complexities of superannuation and help maximise your financial potential.
DISCLAIMER: THIS INFORMATION IS GENERAL IN NATURE AND DOES NOT TAKE INTO ACCOUNT YOUR PERSONAL FINANCIAL CIRCUMSTANCES, NEEDS OR OBJECTIVES. IT DOES NOT REPRESENT FINANCIAL PRODUCT ADVICE. YOU SHOULD ALWAYS SEEK INDEPENDENT LEGAL AND FINANCIAL ADVICE BEFORE MAKING A DECISION IN RELATION TO A FINANCIAL PRODUCT. YOU SHOULD CONSIDER YOUR OWN CIRCUMSTANCES, NEEDS AND FINANCIAL OBJECTIVES BEFORE MAKING A DECISION. BEFORE ACTING ON ANY INFORMATION YOU SHOULD CONSIDER WHETHER IT IS APPROPRIATE FOR YOUR SITUATION AND SEEK INDEPENDENT FINANCIAL ADVICE IF NECESSARY.