Self managed superannuation fund
22 August 2008
Using a self managed superannuation fund to maximise retirement savings has become quite popular in recent years. One of the benefits of a self managed superannuation fund that has been drawing people to them is that they will often cost less in fees to operate than even an industry superannuation fund. Some of these costs are absorbed by the user of the self managed superannuation fund having to do more work, but the payoff for this is that extra control can lead to bigger rewards.
There is quite an element of risk to using a self managed superannuation fund, however. While the kinds of investments you may make are restricted so as to encourage aims of steady growth rather than boom and bust investment, it can still be very likely for users to make poor investment decisions that see their retirement savings greatly reduced below what they may have made in other types of superannuation funds. Businesses that can help you to start a self managed superannuation fund, such as ESUPERFUND, will often provide a sample investment strategy to try and put those new to using a self managed superannuation fund on the right track.
Please click on our ESUPERFUND sponsor banner if you are interested in starting a self managed superannuation fund.
