Self Managed super funds (SMSFs) are exposing their portfolio’s to a high investment risk, with a shift towards growth assets, co-founder of Finametrica, Paul Resnik said.
The following is a case study of clients we helped transition into retirement by providing clarity around how their financial position could look in retirement, along with analysing options on how they could structure their assets for their retirement. Ultimately, this lead to eligibility to the Centrelink Age Pension and a reduction in estate taxes to any non dependent beneficiaries.
No matter what your situation, age or income, a little bit of End of Financial Year planning can go a long way. It can help you:
- boost your retirement savings
- maximise your Government entitlements, and
- minimise your tax liabilities.
We've prepared a quick summary of strategies to consider before end of financial year.
Below is an outline of some of the biggest pro’s and con’s of starting your own SMSF.
While being aware of the opportunities that exist to utilise a SMSF as a preferred saving vehicle for retirement is important, it is equally important to be aware of the potential pitfalls and negatives of the structure.