There is now $2 trillion in Superannuation accounts across Australia , with Self Managed Superfunds (SMSFs) growing at a warp speed pace (550,000 with $600m of assets).
For good reason, says Chris Magnus of Ark Total Wealth
Chris believes the rapid rate of increase in the number of SMSFs being established in Australia is as a result of a number of factors:-
- Australians having access to the appropriate knowledge and education about their superannuation and their choices of where to invest.
- Australians wanting more control over how their superannuation is invested. SMSFs can provide the platform for investment in a wide range of assets - including property and direct shares.
- The capacity for leverage in commercial and residential property has been an additional driver of the growth in the establishment of SMSFs.
- Ability to pay your life insurances from your SMSF
- Potential Estate Planning benefits
- Depending on the size of fund - potentially less fees
With more than 200 retail and industry funds as well as self-managed super, choosing the best account can be complex, and with the significant size of your investment in Super, Chris says that it is key for you to understand this asset class, get educated about Super and seek professional advice.
Contact Chris at www.arktotalwealth.com.au