I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Key Benefits of Self-Managed Super Fund (SMSF)

Engagement with Your Super

Engagement is probably the most significant benefit of a self-managed super fund. If you step across that line regarding superannuation and have decided to leave behind the paternalistic industry funds and the retail super funds, then you can take control of not only your super but also your family's superannuation. This requires engagement.

Unfortunately, many people inside self-managed super funds have large cash holdings. They got those large cash holdings because they are now in control of their super fund. But if you have decided to take that path, you need to determine which stocks are going to go. Like if you're going into shares;
• What managed fund are you going to choose?
• Are you going to invest in property?
• Are you going to borrow or buy property?
• Are you going to acquire capital within your business and lease it back to your company?
• Which members of your fund are you going to get into your fund?

There are a lot of opportunities here, and the first thing you need to do is get engaged. One of the most important things about engagement is for you to be knowledgeable about what is a super fund. From that perspective, the self-managed super fund is a fund where you can have up to four members only, but all members must be trustees of that fund.

A better way of setting it up is to have a corporate trustee or company administrator that stands the test of time. With that company, all members must be directors unless they are under 18. In that instance, essentially what is done is call mom and dad who have kids inside that fund and who are still members to act on their behalf.

So once you're in this core member of a fund with the directors and trustees, you are in there to start an engagement and make decisions about your retirement. You are making decisions about your long-term future. If you look at all the statistics, a modest 1% or 2% turn out to a 30-40 year period can make a huge difference to your retirement income.

At the end of the day, your goal is to ensure that you live long and gracefully in your retirement. The more that you have in the future, the less worry you have in your health care and hand-outs from the government. Because as time goes on things are getting a lot more constrained.

If you want more information on how to engage on your Self-Managed Super Fund, feel free to access the information on our website at www.australiansuperfinder.com.au

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