Make your self managed super fund really work for you

Terry and Jane have had a self-managed super fund for several years but in recent times it has been pretty much dormant. Their fund now mainly holds cash and a few term deposits. They have become increasingly nervous about making new investments since the Global Financial Crisis began several years ago. Terry and Jane own the shop premises from which they operate their interior design business. Retirement is still at least a decade away but in the meantime they are keen to grow their retirement savings so they can enjoy a comfortable lifestyle when they do retire.

How we can help?

We work with Terry and Jane to identify their lifestyle and financial objectives and to better understand how their SMSF might help them achieve them. We present a range of smart investment strategies for discussion. For example, we explain to Terry and Jane how their SMSF could either buy their shop premises and pay them cash or they could transfer it into their SMSF as super contributions.

We help Terry and Jane formulate a new investment strategy for their super fund. Their new investment strategy provides a framework for making sound investment decisions for their fund. We prepare written financial advice with recommendations about new strategies and investment changes. Terry and Jane agree to proceed and we then project manage the implementation of our recommended changes.

Terry and Jane make new binding death benefit nominations and have their wills and Enduring Powers of Attorney updated. When they turn 60, they will each commence tax free pensions from their super benefits in the SMSF.

How Terry and Jane benefit?

Terry and Jane’s SMSF is now regularly investing in new defensive and growth investments in accordance with a clearly articulated investment strategy. They feel assured that their retirement savings are now on track to provide their desired retirement income.

Terry and Jane are minimising their personal tax by making tax deductible contributions to their SMSF. They are also relieved to know their family’s future is protected as a result of the personal insurance cover now owned and funded by their SMSF. They now have the peace of mind of knowing that their intended beneficiaries will receive their super and other assets in a tax effective way after their death.