Self managed super funds, often referred to as SMSFs, are retirement saving funds where members can act as executive trustees and have flexibility and control over investment decisions. Recent times have seen more and more people moving towards the concept of a DIY fund rather than opting for the traditional fund type.
SMSFs are easy because they can be set up online and monitored yourself. This accessibility and control appeals to all kinds of investors and is generally a good choice for those with prior financial knowledge or the time to actively seek knowledge and assistance.
It should be known that SMSFs can be hugely beneficial for certain types of savers. Some of the benefits of a SMSF include:
Setting up a SMSF can be simple, but it’s highly recommended that you establish a close working relationship with a professional who can provide the adequate assistance and advice you need for your retirement saving journey. With a SMSF, it’s unlikely that you’ll only need “once-off” advice, so it’s important to keep this in mind when looking for assistance.
Gavin Ma & Co offers customers a comprehensive range of financial services. Contact us today to learn how we can help.