There are more than 400,000 self managed superannuation funds (SMSF) or DIY super funds operating in Australia. The majority of these funds have been established for one reason only and that is to enable members of the fund to control the investment of their superannuation monies. Many have become sick and tired of leaving their retirement dreams in the hands of faceless money managers.Although this is a powerful driver, this single focus limits that strategic possibilities of the fund and misses the whole point of these powerful vehicles.
In short these unique super funds have a very special place in Australia and for that matter the world if designed and used properly - they allow the aggregation and investment of a family's superannuation benefits as well as providing a pool of monies and assets to look after family members including children and grandchildren at the time of an accident, sickness, permanent disability, death, pre-retirement and retirement. To make the most of a SMSF....Read More
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