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Maximising your SMSF returns

Many Australians opt for a self-managed super fund but fail to understand how to truly make it perform optimally.

If you have an SMSF and are serious about maximising your returns, consider the following:

Risk

Without taking risks, you won’t be able to experience great profit. However, there you still need to be cautious of where you invest your money. After taxes, at the moment, property and real estate are not the best of investments, but this hasn’t always been the case. Many individuals with a SMSF are interested in cryptocurrencies. At the end of 2017, they were performing extremely well, however at the beginning of 2018; there was a significant drop in the worth of this currency.

Do your research

Knowing what kind of risk-taking will work for you will come down to you doing your research and investigating what options are best. Subscribing to mailing lists where investment trends are discussed, as well as keeping up to date with technical and compliance news relating to SMSF are great strategies for maximising SMSF returns.

Speak to a professional

If in doubt, it’s always best to speak to a professional. They can assist you in making the right decision regarding your SMSF and give you personalised advice. A financial advisor can also assist you in managing your fund, organising and strengthening your portfolio and advise on technical issues.

It’s never too early

No one in their retirement reflects on their life and wishes they had of started worrying about their nest egg later in life rather than earlier. Paying attention to your super and retirement options from a young age is important if you want to be comfortable in your retirement phase.

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News

Do you know where your super is?

February 21, 2019

If you’re not close to retiring, you may not be thinking about your super or where it is. Even if you are a way off from retiring, you should be keeping track of where your super has gone. $17.5 billion of super was lost in 2017-18, $420 million down from the previous year. If you are not paying attention to your super contributions, accounts and insurances, you may have lost super. You may also have unintentionally lost track of super if you have ever changed your name, address, job or lived overseas.

It is not uncommon for people to have multiple super accounts they have acquired over the years of working at different companies. Having multiple unused accounts can result in high fees that drain your untouched super or you could lose track of it completely. It is in your best interest to consolidate all super into one account that suits your retirement goals. When closing unused accounts, you should be mindful of any termination fees, insurance policies, investment options, and ongoing service fees.

If you have lost track of your super it may be held by either your super fund as a lost account or as an ATO-held account. The easiest way to consolidate super is through the myGov website, linking the ATO to records of your super funds