Self-Managed Superannuation (SMSF) is a self-controlled superannuation fund, where you have to make decisions and choose investments on your own. There are many benefits to self-managed superannuation, including the ability to make your own investment decisions, greater control over your retirement savings, and the potential to save on fees.
However, self-managed superannuation also comes with a number of responsibilities, including compliance with regulatory requirements and the need to keep accurate records. You can also know more about self-managed superannuation via Dmafs.
Image Source: Google
If you're considering setting up a self-managed super fund, it's important to seek professional advice to ensure that you understand all of the implications before making any decisions. You make the decisions about where your money is invested and how it is used to fund your retirement.
If you are looking for greater control over your retirement savings and want to maximise your chances of achieving a comfortable lifestyle in retirement, self-managed superannuation could be the right option for you.
There are a few things to consider when creating a diversified portfolio for your self-managed superannuation. The first is what asset classes you want to include. There are four main asset classes: cash, fixed interest, property and shares. You can also include other assets like commodities and foreign currency.
The second thing to consider is how much you want to allocate to each asset class. This will depend on your investment goals and risk tolerance. If you're more focused on income, you might have a higher allocation to cash and fixed interest. Once you've decided on your asset allocation, the next step is to choose the individual investments that will go into your portfolio.