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Self-Managed Superannuation Funds

SMSFs can be an attractive option for people who want greater control over their retirement investments, as well as the potential to save on fees.

SERVICE OVERVIEW

Self-Managed Superannuation Funds

Self-managed superannuation funds (SMSFs) are a type of superannuation fund that allows members to manage their own retirement savings. SMSFs can be an attractive option for people who want greater control over their retirement investments, as well as the potential to save on fees. However, running an SMSF is a complex task and requires a high level of financial knowledge and experience. There are also strict regulatory requirements that must be met in order to operate an SMSF. As such, SMSFs are not suitable for everyone. If you are considering setting up an SMSF, you should seek professional advice to ensure that it is the right option for you.

BENEFITS OF SMSF

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Self-managed superannuation funds offer a number of advantages, including the potential to save on fees and the ability to have greater control over your retirement investments. SMSFs can also provide you with the opportunity to take a more active role in managing your retirement savings. However, it is important to note that running an SMSF is a complex task and not suitable for everyone.

At Innovative Financial Services, we can:

5 pre-requisites to qualify for a SMSF

An SMSF can be a great way to save for retirement, but there are several requirements that need to be met in order to run one effectively. If you are thinking of starting an SMSF, you typically need:

1. A large amount of money is needed in the fund to make the initial set-up and annual running costs worthwhile.

2. You need to budget for ongoing expenses such as professional accounting, tax, audit, legal and financial advice.

3. The time and aptitude to research investments and manage the fund are required.

4. The financial experience and skills to make sound investment decisions are necessary.

5. You must understand your role and responsibilities as the Trustee of the fund.

PROFESSIONAL SERVICE

Get professional help for your self-managed super fund

If you’re thinking about starting an SMSF, it’s important to get professional help to make sure you understand all the requirements and can meet them. At Innovative Financial Services, we can help you with this process.

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