Retirement is something we all need to think about at some stage in our lives. When you think about it, how does it make you feel?
Do you feel scared you won't have much money to live on hoping the pension will be around to give you something to survive on each week?
Are you confident you have enough assets built up during your working life to enjoy a happy retirement with a comfortable lifestyle?
Or are you somewhere in between those two scenarios?
If you don't already have a Self Managed Superannuation Fund, now is the time to consider one. They have many benefits and are a perfect vehicle to help you grow your wealth safely into retirement. Let me tell you more.
Discover The 7 Key Benefits of Having
a Self Managed Super Fund (SMSF).
Benefit #1 - Provides a Self Funded Income For Your Retirement
This is probably the most common reason people set up a Self Managed Super Fund. It makes sure you have a reliable income stream when you retire so you can continue to live the lifestyle you're used to.
When you've worked hard your entire life you want to live comfortably and be able to enjoy the luxuries life has to offer when you finally have a lot more time to enjoy them. We all know that's impossible to achieve relying on the pension!
A Self Managed Super Fund gives you a secure self-funded life-time pension once you retire.
Benefit #2 - Low Taxation
In a Self Managed Super Fund, you have the best opportunity to legally reduce your tax in retirement to the absolute minimum.
This is a major benefit and driver for people choosing to take up this option and pour any excess money into their Self Managed Super Fund.
Benefit #3 - Choice of Where Your Hard Earned Money Is Invested
There is nothing worse than watching and feeling helpless as your superannuation goes down because of where the fund has decided to invest your money.
A Self Managed Super Fund lets you take back control of where and how much of your super is invested in different vehicles. You have plenty of choice around where you invest including property, shares, futures, etc.
It's important you have a strategy in place and get expert advice in this area from someone who is qualified and specialises in SMSF.
Benefit #4 - Look After Your Family With a Solid Income Stream For Generations to Come
Did you know you can have up to 4 members in your Self Managed Super Fund?
This allows you to not only build yourself a comfortable lifestyle in retirement but possibly for generations after you. Just make sure you choose wisely who you add to your members.
Benefit #5 - Financial Assistance During Times of Ill Health
Your health is one of the most treasured things in your life. It goes hand in hand with being able to create an income for yourself and your family. So it's important to have access to some financial assistance if things start going wrong with your health.
There are a range of benefits you can access from your Self Managed Super Fund in times of sickness, for both you and your family members.
Benefit #6 - Estate Planning
So what happens with your Self Managed Super Fund when you die?
It is the most flexible, targeted and tax effective way to provide lump sums or income streams to family members upon death - spouse, children or grandchildren. They don't have to fear legal challenges.
The two options you can consider for your family in the event that you die is either a lump sum payout or an income stream. The most common option, especially if you have young children, is the income stream.
Benefit #7 - Asset Protection
This benefit doesn't get used often, but when it's needed it's crucial.
If a person gets into serious financial difficulty, the government has created some rules around bankruptcy which protects the members assets.
This is great peace of mind knowing that your hard work can't be taken from you if you get into this unfortunate circumstance.
I think you'd agree these benefits are pretty hard to ignore. You've taken the first step away from being like the majority.
Most people hit retirement and are shocked at how little they have. They wish they had planned ... They wish they had been informed ... They wish they had sought professional help.
Don't let yourself be like most people.
Take a step out of overwhelm and uncertainty.
Speak to us to get the knowledge you need ... Knowledge is power. Allow us to help you create a plan to give you peace of mind for a happy and prosperous retirement. The sooner you start the better!
TMS Financial Solutions Pty Ltd (ASIC No. 1274541) ABN 14 154 293 062 is a Corporate Authorised Representative of Merit Wealth Pty Ltd ABN 89 125 557 002, Australian Financial Services Licence Number 409361.
Eng Sivieng (ASIC No.245206) is a limited authorised representative of Merit Wealth Pty Ltd ABN 89 125 557 002, Australian Financial Services Licence Number 409361.
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