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Getting the Most Out of Your Self Managed Super Fund

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  • Getting the Most Out of Your Self Managed Super Fund

    Register for Co-Contribution - The Australian government has realised how important it is for both the Australian public and the government itself to have each retiree hold a healthy nest egg. That's why the government has implemented a scheme to encourage people with super funds to contribute themselves over and above what their employer is paying. If people decide to do this, the government has agreed to match the contributions dollar for dollar, but it is capped at a certain amount. By registering for this and contributing, you could add thousands of dollars to your self managed super fund.

    Divide and Conquer - When swapping to a self managed retirement​ super fund, you'll be given ultimate control over where your money is invested. Therefore, if you're new to the finance market and managing your own super, it's best to diversify your investments to minimise your risk. After you've learned more about the finance market and are comfortable taking some calculated risks to maximise your return, it won't be as important to spread out your investments as you'll know what works best for you.

    When it comes to your superannuation, you need to be very careful with where you choose to invest because it's your future you are managing. Sure there will be some hits and misses, but ultimately, to get the most out of your SMSF, you need to know the market, seek advice when you need it, and play it safe until you're confident you know what you are doing.​