Superannuation, we all have it and your employer contributions started accumulating as soon as you entered the workforce. Superannuation is your future nest egg. It is the way to save money for retirement and there’s a range of options and investments available to maximize savings and minimize expenses, including the use of a self-managed superannuation fund (SMSF).
It allows you to be informed about your current circumstances, future prospects and opportunities available. It also allows you to ‘get the facts’.
Superannuation funds took a hit in the GFC and many individuals started to lose faith in their super funds. This is a good time to invest in your future and be confident in your super plans, by getting the right advice.
For example, did you know that a SMSF is not for everyone? There are positives and negatives and seeking professional superannuation advice, tailored to your needs and circumstances, will ensure you are choosing the best path to build your future wealth.
Benefits to Superannuation
Contributions may be tax deductible or can attract a tax offset, investment earnings and capital gains can be taxed at a lower rate than an individual’s marginal tax rates (more in your pocket) and your super benefit can be paid as a tax-free pension or lump sum.
Two Common Superannuation Mistakes
- Not paying attention and reviewing your superannuation account annually – maximise your income earning potential on superannuation investments and minimize tax and fees;
- Not planning properly – seeking professional advice will ensure you meet your retirement goals and avoid paying unnecessary taxes.
At SMSF Strategic Advisors we’re passionate about superannuation and providing professional advice to help piece together your path to wealth. For more information contact us on (07) 4225 5428 or info@smsfsa.com.au