SMSF Advisor Sydney
Self Managed Super Fund Advice | SMSF
Thinking about whether an SMSF is right for you? We can answer your questions to empower you to make decisions that fit your goals. We are a leading SMSF advisor for Australians who are looking to use a self managed super fund for their retirement.
What is an Self Managed Super Fund?
A self managed super fund, or SMSF, is – according to ASIC’s MoneySmart website – “a private superannuation fund you manage yourself, regulated by the Australian Taxation Office.”
When you start an SMSF, you are making choices that are geared towards you taking control over your investments. When you hold an SMSF, you want to work to improve the returns that you get.
Given the potential changes to the pension that are looking likely as of January 2017, it’s more important than ever that you have your super sorted out, so you’re not struggling through your retirement.
If you are interested in a self managed super fund or are looking to educate yourself further on what is required and various SMSF strategies – we can help. Feel free to call us on (02) 8014 5889 and have a chat to one of our financial experts about how an SMSF can work for you.
Do you need a Self Managed Super Fund?
We won’t advise you to take up an SMSF if it’s not the right option for you! You need to have a fair amount of money in super savings (around $200,000) before an SMSF is right for you. You also need to understand your responsibilities as a trustee – and we take our role of educating you seriously.
can seem like an uphill battle as you work through a seemingly endless array of investment options and choices. Then there’s the ongoing balancing act of saving for a deposit on a property while managing your week-to-week budget.
At Mirador Wealth, we understand that life can be filled with ups and downs, and we want to help you to manage your finances so that you are well-placed to weather any storm.
We will work with you to understand your goals, and then will offer you the right kind of wealth creation advice that’s geared towards achieving them. By taking the time to understand your wealth creation goals, we can help you to achieve them faster.
At last count, there were over a million members in Australia that were part of a self managed super fund (SMSF). Whether it’s right for you or not depends on several things, and it’s important to get advice from a professional before taking the plunge.
Some reasons that you may wish to start an SMSF:
As a trustee of your own fund (either as an individual or via a corporate structure), you can dictate and make active decisions in the fund’s administration for the benefit of the members and their heirs.
When investing in a retail or industry super fund, you are largely held to investments that the fund has as an investment option. An SMSF allows more flexibility and choice in the types of investments and products you can hold, but you should seek advice as to what is and is not allowed.
This is not a one size fits all benefit. Fees may be lower than if your funds were held through a retail or industry super fund, but it depends on what your investments are, and the cost of your administration and audit fees.
In many cases, we have seen SMSF’s that are far more expensive than holding in an industry or retail super fund, especially when your fund holds less than $250,000. It is recommended to seek advice prior to setting an SMSF up simply to save money on super fees.
When you hold an SMSF, you can change the investment mandate, tax strategies or structure for your self managed super, which are not as available with a retail or industry super fund.
Why Do I Want An SMSF
SMSF – Setting Up Your SMSF
Self Managed Super Fund Investments
There has been a lot of noise in the media about Self Managed Super Funds lately, as property companies work to encourage people to use an SMSF to invest and to ‘get into the property market.’ And while property is one of the many ways in which you can use your SMSF to invest, there is a range of other investments that you can make.
When you engage with an SMSF, you can enjoy investing in the usual things like property, shares and term deposits, but you can also hold alternative assets like antiques and artworks. There are various SMSF strategies – and we can offer you SMSF advice for a range of investments.
While selecting your own shares may be an attractive option for setting up an SMSF, you need to know that unless you have a lot of funds for investing you probably won’t have the same success as a fund manager. A fund manager can use pooled funds to buy a broad range of shares.
Of course, using a fund manager incurs fees, and therefore you may want to look at buying shares directly. It’s important to get advice on the strategy that’s right for you!
Property and SMSF seem to go hand in hand. We can help you with advice on setting up your SMSF to work for your investments.
In the past, many SMSF funds held things like artwork, jewelry, stamps, coins, vintage cars and wine as an investment. There are very strict rules when it comes to holding these assets. Basically, you cannot enjoy a present-day benefit, and these items must be insured. You can’t wear the jewelry, can’t drink the wine, and can’t display the artwork.
Mirador SMSF Advisors
At Mirador Wealth, we are financial coaches and advisors across Sydney who are dedicated to ensuring that you get the best possible SMSF advice for your life. We believe in working closely with you to ensure that you are comfortable with all of the information that we are presenting, and work hard to ensure that we understand your goals.
We are financial coaches and advisors who understand that financial freedom, or having greater choices through financial improvements, can do wonderful things for your quality of life.
Our focus is always on how our self managed super services can improve your financial future, and we work with you through a range of sessions, including a discovery session, where we establish exactly what you want an SMSF for.
- We will answer any questions you may have.
- Explain and provide education around the obligations and responsibilities that are associated with a SMSF.
- Explain fees you may be paying currently vs. through a SMSF. Or, if you have one already, the fees you may pay to your accountant and auditor.
- Help structure your investments in an effective manner, rather than guessing.
- Ensure your decision assists with meeting your goals.
- Assist with strategies to get the most out of your super.
If you are considering whether an SMSF is right for you, it is important to get advice. Our financial experts can assist in providing you information and advice on what your path will look like. Our expert financial planner and financial advisor Sydney team can help to uncover the best solution.
Get in touch with us on (02) 8014 5889 and start your SMSF investment journey off the right way today.