Smart Australians live within
their means and still invest in their future. And no – we don’t just put money
in our savings accounts (because money only sleeps there and does not gain
enough value against inflation). In the same way that we dedicate our time and
effort into our jobs and businesses, we make our money work just as hard as
well. Some of the less risk-averse among us place their bets in stocks and
money markets, while most of us play it safe in government bonds and mutual
funds. Additionally, when it comes to our retirement, we make our money work
smart, too: we invest in superannuation funds.
Superannuation
funds – or simply supers – have become so effective for Australia that it now has
one of the biggest – if not the
biggest – retirement coffers in the world. In fact, retirement funds have
become so diverse as to have many that cover health and life insurance, or have
highly varying investment portfolios. With a dizzying array of super funds
Melbourners can choose from, which one is the smart choice? The answer is easy:
Have your own super.
Having your own self-managed super fund means that you can:
·
Exercise greater control of your monetary assets
·
Place your money in the investment vehicle you
like
·
Benefit from sizeable tax breaks
·
Enjoy mental serenity, knowing that your money
is where it should be
However, to protect its
constituents against the risk of losing money for their retirement years, the
Commonwealth has placed strict regulations upon the super funds Melbourners and
other Australians set up. This is why even the Australian Taxation Office
itself recommends that individuals or entities utilise professional
services in its website. Just like with any investment us smart Australians
make, practice due diligence in order to make the right decision.
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