Cost, Freedom & Control! It’s All About Self Managed Superannuation

by Emma Jhonson My Life My Rules

There are certain reasons why one should go for a Self-Managed Superannuation. This blog will entail some key benefits of getting into this kind of fund.

Benefit-1: Cost

In contrast to other funds, which makes you pay extra on the total number of assets you have, self-managed superannuation have no such restriction. In the latter, the amount is mostly fixed and no extra payment is required. It means that if your superannuation funds rise to a certain extent, an SMSF would provide greater benefits. In an SMSF you have an opportunity to have other members as well. So, if this is the case you can easily share the fixed cost to keep the burden off your shoulders.

Benefit-2: Freedom of Running It Yourself

This kind of fund provides you an open ground to decide where and how to invest your money. You have the required freedom and flexibility in making the important decisions. These mostly includes how benefits would be given to the members on retiring and how death benefits would be allotted to the family.

It is in fact good news for those workaholics that could not survive on their own. Even after your retirement you can continue with a business no matter big or small and be the earning member of the family like you always have been. The best part is “It is the business of your choice that you would enjoy working for”.

Benefit-3: Control

Getting in control means that you have the power to chalk down the investment strategy tailored in accordance to your needs. You also have an open access to an array of investment options such as shares, corporate bonds, real estate investment or managed investments etc. You also have the right to buy or sell any individual investments you like.

Although there are range of benefits offered by self-managed superannuation, but yet it is not suitable for everyone. So, be knowledgeable enough while choosing one.