Superannuation, or ‘super’, is a way to save money for your future. It is important to understand how much super you’ll need, and how to best manage the money for your retirement.
Through super, you can hold a wide range of investments such as shares, property and cash.
Super is attractive because it receives favourable tax benefits, both when you are working and once you have retired. The government offers these tax savings to encourage you to grow your super.
Employers must typically pay mandatory government super contributions on behalf of their employees. You can also choose to add money out of your own pocket. If you are self-employed, you can decide to make regular super payments if you wish.
Would a Self Managed Super Fund (SMSF) suit you?
An SMSF is not for everyone. Perhaps the most influential difference of an SMSF compared to a traditional super fund is that you have greater control over the investment of your super savings. This is because you are making the investment decisions, but it is important to remember that with the additional control comes added responsibility.
Come and talk to us and we will find out whether an SMSF is right for you.