9 Reasons You Should Consider Setting up A Self Managed Super Fund

 

Setting up a self managed superannuation fund can be quite popular today with thousands looking into these each and every year. However, there are many who aren’t sure whether or not these funds are suitable for them or even worth their time. It’s hard to know why you should set up one of these funds as they can appear very risky at the best of times. While they can appear to be a risk, every investment is a risk no matter what it may be. The following are just nine reasons why you should be considering setting up a self managed super fund.

You Own The Fund!

You are technically the owner of the self managed superannuation fund rather than being just a member of a retail fund. That can make all the difference in actual fact simply because it means the amount you can receive later on, can be fairly decent. However, with retail funds it is possible the amount can differ because of several economical factors.

Better Tax Benefits

There is a way to ensure you keep on getting maximum income without having to pay lots of tax on it. That is really great because when you reach retirement age you need as much money as possible and being able to pay fewer tax can be so useful. There are many who now look into the self managed super funds to get this benefit.

Better Control

Unlike some investments, there is far more control available with a super fund. You have the ability to invest in whatever you like from properties, shares and many more things too. That is why there are so many who look at self managed super funds than ever before. They can be a little more open in terms of control over investments.

It’s Possible to Have Multiple Accounts Consolidated

If you have a fund and there are three other members or more, it is possible to rollover their benefits and make the funds more manageable. That can really help a lot of members and it can be a lot easier to work with the funds too. Self managed super funds can truly be one of the very best options for many people and it’s a lot easier than you think to manage too.

It’s Easier to Manage and Plan Investments

Planning out your investments and managing them is not an easy task. You have so much to do and so little time and being able to plan and manage them all can be important. With the self managed super funds you can do just that. It’s really going to help a lot of people and enable them to get far more value for money with this option.

Rolling Your Pension and Accumulation Funds Into One Fund

What you have to remember is that you will have a pension fund from your super funds as well as an accumulation fund too and usually these would be separate funds. However, it is very much possible to roll these together to become one fund. That can be far easier to manage and it’s something which more find very useful indeed. A self managed superannuation fund can be a lot more manageable this way.

You Can Have Far More to Your Payout

If you don’t look at self managed funds, you could end up paying far more in fees and that means you’re taking money out of your pocket. Why do that when you could reduce those costs? When you look into self managed super funds you can reduce your fees and help to add much more money to your payout amount!

There Are Usually Reduced Fees with Funds

There are lots of investment funds which charge high fees and that can be a real nightmare for those who don’t want to spend lots in fees. However, with the self managed superannuation fund you don’t have these high costs. Many super funds can charge only around one percent in fees which is actually really great and affordable too. That is why there are so many who are interested in these funds.

You Can Consolidate All Your Investments

Consolidating investments can be something which most investors have to do for one reason or another and it can be so important to be able to do so. With the self managed superannuation fund you have the ability to do just that. That’s why there are so many people who are choosing this fund than ever before.

Still Unconvinced About Self Managed Super Funds?

Self managed funds can be absolutely fantastic for those who want to take control of their investments and their future. Yes, they are not without their risks but that doesn’t mean to say you can’t still use them to your advantage. There are lots of simple ways to get more value from these funds than you think and you can take advantage of them today. Why not look into the self managed superannuation fund?

see more: https://www.investopedia.com/terms/s/superannuation.asp