Frequently asked questions

What kind of lifestyle do you picture for yourself? Any special medical considerations? Are you a fan of traveling? Do you have other sources of income, like investment properties?

Answers to these questions will help you work out how much money you'll need for a relaxed retirement.

You can check out the Australian Government's 'MoneySmart' website, which has a handy 2-minute calculator to give you an idea of what a comfortable retirement might look like for you.

The Australian Government, under the Australian Prudential Regulatory Authority, is mandated to carry out an annual Performance Test on superannuation fund products within the country.

This initiative aligns with the Government's 'Your Future, Your Super' reforms, designed to enhance efficiency, transparency, and accountability within the superannuation sector. This effort is expected to bring significant benefits to all of us.

Is your superannuation fund among those ranked as underperformers?

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Self-managed super funds (SMSFs) are privately operated investment funds for superannuation, with a maximum of six members.

According to Super Guide (www.superguide.com.au), there are currently 1.1 million SMSF members managing over $822 billion in superannuation. This shift away from traditional superannuation funds is not unexpected.

SMSFs empower individual members with greater authority over their investments, fund expenses, and offer flexibility and personalized choices to help them optimize their retirement savings.

The surge in SMSF popularity can be attributed to disappointing returns from traditional superannuation funds.

Australians have become more actively involved in managing their super, and the underperformance of existing funds has motivated them to consider switching to an SMSF.

SMSFs represent an ideal superannuation vehicle, offering individuals control over their finances, superannuation performance, and associated fees. Reach out to one of our friendly information specialists today for further insights into SMSFs.