Australians are taking more and more steps to minimise the risk of their retirement. In fact, currently there is an uptake of 100 Australians a day stepping in to manage their own super fund. Here at TSI we were noticing this trend: many people wanted to invest but were stuck because of a lack of cash flow or equity. So, we decided to team up with the industry leading Super Shift. Now we’re able to provide clients access to advice and expertise on managing their own super fund, all of which can be done while we’re working away on finding a perfect property to invest in.
To find out more about TSI and our partnership with Supershift: http://thesuccessfulinvestor.com.au/property-investor-s-toolkit/self-managed-super-funds/
To read the orignal article from The Daily Telegraph click here or simply read below:
Australians embrace DIY super in a bid to go it alone
ALMOST 100 people a day are abandoning super funds to go it alone. The popularity of DIY has created a super fund gold rush.
DIY super is growing at the fastest rate in almost a decade – as Australians look to take control of their financial destiny following a series of heavy losses by the big funds.
The Australian Taxation Office quarterly survey showed 36,000 new self managed super funds were established last financial year – a record 913,550 Australians now run SMSFs, controlling almost $440 billion of assets.
But industry experts at the country’s peak superannuation body said that while the poor performance of the major funds may be a driving force, those looking at establishing a fund must be aware of the pitfalls.
“People must have a clear understanding of the risks and obligations,” Association of Superannuation Funds of Australia chief executive Pauline Vamos said.