Benefits of SMSFs: Facts That You Should Know!
As increasing numbers of Australians look for ways to boost their retirement savings, self-managed super funds (SMSFs) are gaining popularity. So much so, in fact, that the number of SMSF’s grew by 5% in 2022 alone. However, with the rules and regulations that govern SMSFs, they may not be suitable for everyone – so weighing up the advantages and disadvantages of SMSFs before opening one is crucial. Let’s explore the most significant benefits of SMSFs, as well as the potential disadvantages of SMSFs. Advantages of SMSFs (The Benefits of SMSFs) Investment Control and Flexibility One of the major benefits of SMSFs is that, as a trustee, you retain control over it. You get to choose who can join the fund, which investments to make, which professionals to hire to manage its assets, and every other key decision related to your retirement planning. More Investments Available Subsequent to controlling your SMSF, selecting your own investment strategies is a considerable benefit of self-...