News & Information

Is a Self Managed Superannuation Fund right for you?

June 09, 2016

Too often we have been approached by clients who have, for a range of reasons, being considering whether or not a Self Managed Superannuation Fund (SMSF) is right for their needs.

Before considering Self-Managed Superannuation, read, read and read.

Research Self Managed Superannuation before you start

There is a plethora of information available regarding Self-Managed Superannuation. A great starting point is the ATO website which sets out in plain English a wide range of information that is informative and easy to read.

If you are considering a Self-Managed Superannuation Fund, make sure you are doing this for the right reasons. The ATO makes a number of points on what you shouldn’t be doing but there is a good rule of thumb to work by… If you “enjoy” your funds in any way prior to “Retirement” then the chances are that you are breaking the law.  It’s pretty simple really.

2 Simple Rules of Thumb

The other rule of thumb to apply is the minimum suggested balance of $200,000 by the ATO. If you have less than this, the costs of advice, administration and mandatory reporting can make Self-Managed Superannuation an expensive option.

We strongly suggest that you seek advice from Professionals who can give advice in relation to whether or not a Self-Manged Superannuation Fund is appropriate to your needs. The SMSF Professionals Associations of Australia (SPAA) is a great resource for finding professional who are accredited to give you advice.

Why consider using Lifetime Financial Group to set up and manage your Self Managed Superannuation Fund?

Lifetime Financial Group, a Melbourne based Financial planning practice, is accredited through SPAA and holds “SMSF Specialist Advisor” accreditation.  Anthony Stedman and Adam Watts specialise in advising clients on a range of matters to do with SMSF. From considering whether or not an SMSF is right for you through to the establishment and ongoing management of the investments held.

Seek Advice from a Professional

Seeking advice from the properly qualified will ensure that you don’t make a costly mistake.

Lifetime Financial Group is not aligned with any particular institution. This means that you know you will be receiving advice that is appropriate and not in any way biased towards a large financial institution.

If you would like to discuss how a Self-Managed Superannuation Fund could work for, please feel free to call for a no cost, obligation free chat.