Self Managed Super Funds Advice in Brisbane

by Steve Wilkinson

This week at our Business Leaders Springwood meeting, I will be talking about self managed super funds. Around a million Australians are using self managed super funds (SMSFs) as their wealth creation vehicle of choice for the building of their retirement assets.

For many investors with specific requirements, the SMSF is an extremely efficient and effective way for them to achieve their goals. However, like most success stories, there is another side to this one as well.  Many SMSF's appear to have been created by the wrong people, for the wrong reasons, and often using the wrong investments.

We are currently helping a number of people wind their SMSFs up in order for them to have a simpler, lower cost, easier to manage, easy to understand, wealth creation vehicle. The sort of indicators that might indicate that an SMSF may need a good look at are:

• Trustees who are not sure how it all works
• Trustees who worry about taking risks
• Trustees who like taking risks but lack experience
• SMSF's that have a high percentage of cash and term deposit investments
• Trustees that don't have time to self manage their SMSF 
• SMSF's with low balances (balances under $250,000 are usually worth reviewing)  
• Trustees that are wanting to reduce running costs

If you or someone you know requires Self Managed Super Fund Advice in Brisbane, it might pay to encourage them to ask a registered financial planner to help them with a review.