None of us wants to think about its own retirement.
But it does not matter how much we try to avoid the subject, someday we will reach retirement and face it with all the things we tried to avoid in the past years.
Still, there are some people who like to look after their own super.
Possessions Self Managed Super Fund has many advantages, but it requires quite a responsibility on your part too.
For all those who are not sure whether you want to own SMSF, here’s a list of three reasons to show the positive side of the creation of the SMSF.
- You choose where to invest your money
To have more control over the money, means carefully to choose how and where to invest your funds.
- All the money remains in the family
When you have a SMSF, it allows family members to participate as trustees. This implies you could reap the estate planning benefits, incorporation the capacity to leave income to dependent and your child beneficiaries.
- Low tax rate
The SMSFs only incur a maximum tax rate of 15 %. But also that might get reduces by balancing different tax credits.
However, managingSelf Managed Super Fund requires much attention and care. There are still some pitfalls, so it should well look out, and in exceptional situations to seek advice from specialists.
Self Managed Super Funds 