For many people, the idea of managing and investing your own retirement savings is very appealing. However, there is ongoing debate over whether running your own self-managed super fund (SMSF) is cost effective. So, what are the arguments for and against having your own fund?
After a year when even the best laid plans have been put on hold due to COVID-19, people who were planning to retire soon may be having second thoughts. You may be concerned about a drop in your super balance, insecure work, or an uncertain investment outlook.
Elderly superannuation members keen to top up their savings are set to benefit from the most recent changes to the rules of superannuation.
As the world celebrates International Women’s Day and all that women have achieved, it’s a good opportunity to take stock. Australia has undoubtedly come a long way in terms of workplace participation, equal pay and financial independence, but there is still some way to go.
The lure of greater control over your retirement savings with a Self Managed Superannuation Fund (SMSF) may be enticing but the freedom to chart your own destiny also comes with the responsibility to comply with the rules.