ViewTube

SMSFs are a way of saving for your retirement. The difference between an SMSF and other types of funds is that, generally, the members of an SMSF are also the trustees. This means the members of the SMSF run it for their own benefit. The ATO is the regulator of SMSFs.

Managing your own super is a big responsibility. There are strict rules that govern how you can use an SMSF, how you can invest the fund's money and when you can access your super. Before deciding whether to manage your own super, view our playlist, and think about the following aspects.

Consider your options and seek professional advice
If you are not confident that you have the necessary superannuation knowledge and investment skills to manage an SMSF, you may decide that having your own SMSF is not in your best interests.

Make sure you have enough assets, time and skills
To establish a competitive fund, you need to have considerable super savings to invest and be willing to put time and effort into managing the fund. At times, you might need to consult with professionals and advisers, which adds to the cost of managing your fund.

Understand the risks and laws
All ﬁnancial decisions carry risk, so it's important to think carefully about your investment options to balance the level of risk against the level of ﬁnancial return. You also need to be sure your super investments are legal.

Visit http://www.ato.gov.au/Super/Self-mana...

ViewTube

Self Managed Super Funds (SMSFs)