SMSF – Being in control of our own destiny

The world of Superannuation is often met by a grunt and a groan by many Australians.

When I talk to clients, friends or associates about Super, I often get the same response – the frustration of not being able to access “your” money until you are too old to enjoy it.

But why do we feel this way?

There can be a number of reasons:

  • Aussie’s under the age of 40 can’t fathom not being able to use their Super money for at least another 25 years
  • Many Australian families are struggling with their mortgage and paying rising bills
  • The government force employers to contribute for their employees into Funds that go and “lose it”
  • The confusion surrounding retirement age and access to Super
  • Today’s “Want it Now!” society

However, we live in a country with arguably the best Superannuation system in the world.  Citizens of the US, or European countries envy our ability to save for the future, yet all we want to do is have the good old Aussie whinge.

So why not think positively and turn this into an advantage.  We currently have 9.5% of our annual wage contributed, so what better way to invest for our future than controlling those funds ourselves, not being dictated to by the banks or unions who own and/or control a majority of the Retail and Industry Funds in Australia.

Establishing your own Self-Managed Superannuation Fund allows you to control your future, but can also help you today:

  • Ensure you have appropriate life, TPD and income protection insurance (don’t risk your families future by not being able to afford it personally)
  • Set up your own direct share portfolio and own part of Australia’s biggest and most profitable Companies
  • Own bricks and mortar, buy that investment property
  • Help your business and purchase the office or factory to operate from
  • Sit your savings in cash in a falling market
  • Access the benefits of borrowing to invest
  • Structure your affairs for the most tax effective income streams in the future
  • Pay the appropriate amount of fees that you agree to, not those that are still hidden away and dictated to by the unions and banks
  • Don’t rely on the Government to give you a 1.5% pay rise in retirement….

The idea of running your own Self-Managed Fund may be daunting, I know, but so is getting your driver’s licence, proposing to your girlfriend, or having your first child.  But there are steps in life we all take to ensure we are in control of our own destiny.

To start to take control of your future, call us at Hansens SMSF on 8805 8000.

 

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