Creating a healthy nest egg is high on the priority list for most people and knowing you’ve got a solid source of income in your old age can bring huge relief. Self-managed super funds are a great way to take even more control of the size and quality of your egg, providing flexibility of choice and garnering great financial rewards in the short term. If you’re not convinced, here are a few reasons why you may want to learn about self-managed super funds.

  1. Choose your own investment options and asset choices

Managing your own superfund allows you the flexibility to choose what investments you make, increasing your ability to invest in companies and sectors that you may have personal alignment with be it employment interests or environmental and ethical alignment. There has been a rise in the popularity of conscious investing, and a self-managed super fund gives you the opportunity to have a greater say over where your money goes and what it is used for.

  1. Take advantage of tax benefits and save even more money

Self-managed super funds provide a range of flexible tax benefits to save you money in both the short and long term. By managing your own fund, you may have control over the timing of your buying and selling to monitor and plan for capital gains tax. You also have the opportunity to structure tax-effective strategies for estate planning and utilise imputation credits to reduce your funds tax liability.

  1. You can pay a pension from the same self-managed fund

Many superannuation funds don’t allow you to pay a pension from your fund until it’s in the pension phase. Self-managed funds mean you can pay a pension right through the accumulation phase into pension phase from the same fund, an effective way to plan your long-term superannuation strategy.

  1. Prepare for your family

Self-managed super funds enable you to have multiple family members under the one fund, allowing for greater flexibility around estate planning and tailoring a fund that will work specifically for the needs of you and your family.

Self-managed super funds may be costly to establish but, once up and running with the right skill and attention, a self-managed fund can be incredibly rewarding and offer valuable flexibility for you and your estate. Explore the Sharemarket Trading College Self-Managed Super Fund course and take control of your financial future.

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