Self-managed super funds
If you want to have complete control over your super, a self-managed super fund may be the way to go.
Having a Self Managed Superannuation Fund (SMSF) means that you have direct control over exactly where your money is invested.
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BENEFITS & RISKS OF A SMSF
More investment control:
You directly control where and how your super is invested.
More investment choices:
You can choose from a wide range of investments.
One fund for the family:
You can set up a fund for yourself and up to three other people. So you can consolidate your super balances.
Borrow to make larger investments:
Your SMSF could make a larger investment in assets such as shares and property by using cash in your fund and borrowing the rest.
There are strict legal obligations for running your own fund. Penalties apply if you don’t meet these requirements.
Time and money:
It takes time and money to set up an SMSF, and deal with the day to day requirements of running your SMSF.
As a trustee, you determine which investments make up your fund. If you don’t have the right knowledge to make informed decisions, you could affect your retirement savings.
You need to be aware of any changes to the superannuation laws and make sure your fund is compliant.