Taking control of your financial future means taking control of your superannuation. As the Australian government prepares to sell our superannuation to fund overseas investment and banks able to bail-in at a moment's notice, the reliability of your superannuation savings is fading fast. Running your own self managed superannuation fund (SMSF) gives you the flexibility of tailoring your investments to your needs and securing your value in stable assets.
Benefit #1: Your Investments Your Way
It is well known that SMSFs can invest in classic assets such as shares and units in unit trusts. You may be interested to know that SMSFs are also able to invest in digital assets (such as cryptocurrency), bullion and commercial property; you can even create a partnership with other superannuation funds to buy property together.
Benefit #2: Flexibility
The flexibility of an SMSF allows you to shift your direction at any time. As you near retirement you have the control of altering your investment profile to better suit your needs, aligning your personal goals with your investment decisions and allowing for a fast response to changes in the marketplace.
Benefit #3: Reduced Costs
You know where your money is going when you are in control. If you don't like the accounting fees that were charged one year you can change your accountant the next. You decide what level of life insurance cover is relevant to you. With fixed costs, rather than management fees charged at a percentage of your portfolio, you are better able to make use of your super savings. Plus, by combining your super with up to three other members (such as partners or family members) you create a larger fund balance, increasing the investment opportunities of the SMSF, while keeping just one set of fees.
Benefit #4: Tax Strategy
With concessional tax rates at just 15% on general income to the SMSF you are able to maximise the growth of your investments by keeping them in the SMSF environment. This can help with estate planning and legacy wealth. Additionally, once the SMSF moves into pension phase there is no tax payable, not even capital gains tax. Carefully executed tax strategies can help members increase their super savings and reduce tax payments as they transition to retirement.
We are not out to offer financial or tax advice but we understand that your superannuation savings are part of your wealth legacy.
Here at dHealthNetwork we make it easy for you to set up your own SMSF. An exclusive offer to our Australian members, dHealthNetwork will waive the setup costs of a self managed superannuation fund, as well as the first year accounting and audit fees when you purchase 6 or more DMAC for SMSF in one transaction.*
*Terms & Conditions apply. Enquire at DMAC@dhealthnetwork.io to find out more.