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Operating your own Self-Managed Superannuation Fund (SMSF) provides you with the ability to choose your investment options and be in control of your retirement. Running your own fund can provide a range of advantages but involves considerable responsibility and commitment.

An SMSF gives you total control of your Super by allowing you to choose where you invest. This control will allow you to consider investing in a wide range of investments, such as Term Deposits, Domestic & International Shares, and Residential & Commercial Property.

Edwardes Lake Reservoir

Reservoir

Reservoir has a significant family focus with 45.9% of people being married, so planning for your family’s future is an important requirement.  People who have not married account for 35.5% of the Reservoir population, making the flexibility of a SMSF having anywhere from one member up to a maximum of four members an excellent opportunity to invest into the retirement lifestyle you desire.

Home ownership is also high in Reservoir with 37.9% of people owning their home outright and a further 24.6% paying off a mortgage on their home[1].  How are you progressing with owning your home in Reservoir when you retire?

Reservoir is a suburb located about 11 kms to the north of the Melbourne CBD with a postcode 3073.  The main occupations of people living in Reservoir include Professionals (18.4%), Clerical & administrate workers (15.2%), Technicians & trader workers (15.2%) and Labourers (10.0%).  The average age in Reservoir is 38-years old[2].

Ask yourself:

  • Are you a Reservoir resident wanting to manage your superannuation investments?
  • Are you on target to reach your retirement goals and achieve the lifestyle you wish?
  • Are your affairs in order to protect you and your family in case something should happen stopping you from being able to work or worse?

Self-Managed Super Funds

A Self-Managed Super Fund (SMSF) is used by many Melbournian’s to allow them to take control of their retirement by managing their superannuation to achieve their retirement goals.

A SMSF is similar to other superannuation fund types, being that it is maintained for the sole purpose of providing retirement benefits to its members.  A SMSF can have up to a maximum of 4 members, each which also act as the fund’s trustees and are responsible for managing the fund and its investments.

The trustee holds the fund’s assets for the benefit of its members, but as the trustees are comprised of the members of the fund (whether directly as Trustee or as directors of a Corporates Trustee), it gives them the control of developing the fund’s investment strategy and the flexibility to invest those assets as they decide subject to some restrictions.

The SMSF can invested into most investment product types subject to some restrictions, including shares, commercial property, residential property, and even some rare assets like artwork.

best self managed super fund reservoir

How to take control of your superannuation

Some key reasons why people choose to have a SMSF:

  • Take control of their super
  • Manage the family’s super in the one fund
  • Cost effective opportunities with a SMSF
  • Flexibility with the broad investment choices
  • Tax planning and taxation efficiency
  • Long-term retirement plan
  • Estate planning opportunities

 

If like over a million other Australian’s you want to take control of your superannuation, then contact SMSF iCompass on 1300 554 948 or email enquiries@compassdirection.com.au

Class Super Software

We use Class Super Software – a market leading “in-the-cloud” Super administration package which streamlines your SMSF financial tracking and reporting. You can access Class anytime, anywhere to review your SMSF’s investments and their performance. To further streamline operations and improve efficiency for our clients we have also introduced a number of initiatives such as online document logging and authorisation to allow clients to quickly and easily respond to and manage their super accounting obligations.

References
[1], [2] Reservoir Demographics (VIC) Local Stats
URL: http://reservoir.localstats.com.au/demographics/vic/melbourne/north-east/reservoir
Sighted: 19/02/2017

Get in Touch

To discuss your Self-Managed Super Fund requirements please contact SMSF iCompass on 1300 554 948
Get in touch using the form below – we’ll be delighted to help!

Get in Touch

To discuss your specific requirements please contact iCompass on 1300 554 948, get in touch using the form below – we’ll be delighted to help!

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