Greater control over your super, with a strategy behind it
As your superannuation balance grows, you may start considering whether a Self-Managed Super Fund (SMSF) could give you more control over how your retirement savings are invested.
An SMSF can offer greater flexibility, a wider range of investment opportunities and the ability to manage your superannuation around your individual financial goals.
But greater control also comes with greater responsibility.
Running an SMSF requires that you're involved in compliance requirements, legal obligations, and investment decisions. It's common to outsource many of these functions, but that will generally result in higher ongoing costs versus your traditional retail or industry super fund.
And while an SMSF can be an effective way to manage substantial retirement savings, it isn't necessarily the best option for everyone.
In our experience, SMSFs remain oversold to Australians, with many having been better either retaining their existing fund or seeking an alternative which still meets your requirements. We have a firm 'use it or lose it' view to SMSFs: if you don't intend to utilise the unique features which are available only to SMSFs, you don't need one.
In fact, a recent audit of Northeast Wealth SMSF advice showed that we close more than three SMSFs for each one we open.
At Northeast Wealth, we help you understand whether an SMSF is appropriate for your circumstances and, where it is, develop an investment and financial strategy that supports your long-term goals.
Whether you're considering establishing an SMSF or already managing one, we help you make informed decisions about your investments, superannuation and retirement plans.
Our focus is on making sure the additional control and flexibility of an SMSF delivers genuine value to your financial future.
How we help you make more of your SMSF
Determine whether an SMSF is right for you
Establishing an SMSF is a significant financial decision, and the additional flexibility needs to justify the cost and responsibilities involved.
We assess your current superannuation arrangements, investment preferences, retirement goals and financial position to determine whether an SMSF offers meaningful advantages.
This includes comparing the costs, investment opportunities and features of an SMSF with those available through industry, retail and other superannuation funds.
If an SMSF makes sense, we can help you plan the transition and coordinate the establishment process with the relevant professionals.
If your existing superannuation arrangements are better suited to your circumstances, we'll explain why.
Build and manage your investment strategy
Having greater control over your superannuation is only valuable if you use that control effectively.
We can help you to develop an investment strategy that reflects your retirement timeframe, risk tolerance, income requirements and broader financial goals.
Depending on your circumstances, this may involve a diversified portfolio of Australian and international shares, managed investments, commercial or residential property, fixed interest, cash and other bespoke assets.
We also help you assess investment opportunities, manage portfolio risk and review your strategy as markets and your personal circumstances change.
The objective is to ensure your SMSF investments are working together towards a clear financial outcome.
Make the most of superannuation opportunities
An SMSF can provide flexibility when managing superannuation contributions, investments and retirement benefits.
We help you consider strategies such as additional concessional and non-concessional contributions, contribution timing and the transition from accumulating superannuation to drawing retirement income.
Where appropriate, we can also consider how an SMSF may accommodate different investment and retirement needs across its members.
Our advice takes account of the relevant superannuation rules, contribution limits and tax considerations, helping you make informed decisions about how to build and use your retirement savings.
Plan for retirement and beyond
As you approach retirement, the role of your SMSF may change significantly.
Investment growth remains important, but so does generating income, managing risk and ensuring sufficient cash is available to meet pension payments and other fund commitments.
We help you model your retirement income needs and develop an investment strategy that supports the lifestyle you want.
This includes considering how your SMSF works alongside any investments, assets or income you hold outside superannuation.
Through ongoing financial advice, we help you review your strategy as your retirement progresses, adjusting where appropriate to support your longer-term financial security.
