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Superannuation

Superannuation, often called super, is a way to save for your retirement. You build up super while you are working to make sure you can have a comfortable retirement.

Why Consider Superannuation?

Superannuation is one of the most tax-efficient ways to accumulate wealth for retirement. With concessional tax rates, super can significantly boost your long-term savings.

Effective Superannuation Strategies

  • Consolidating your super into one account
  • Choosing the right fund, whether it’s industry, retail, Wrap, or a Self-Managed Super Fund (SMSF)
  • Making additional contributions to take advantage of tax benefits
  • Maximising your annual contribution caps or utilising any unused cap amounts
  • Selecting investment options aligned with your retirement objectives

Superannuation Guidance:

Superannuation is vital to your financial flexibility and retirement planning. At Primestone Wealth, we ensure your superannuation nest egg is tailored to your needs, helping you make the most of every opportunity as you grow your retirement savings.

Is a Self-Managed Super Fund (SMSF) right for you?

Deciding whether a Self-Managed Super Fund (SMSF) is right for you involves careful consideration of several factors. An SMSF offers greater control over your retirement savings, allowing you to choose where and how your funds are invested. However, it also requires a significant commitment of time, expertise, and responsibility. Here are some key points to consider:

Control and Flexibility

With an SMSF, you have the flexibility to invest in a wide range of assets, including direct property, shares, and collectibles. This level of control is attractive if you have specific investment goals and strategies in mind.

Costs

SMSFs can be more cost-effective for those with larger superannuation balances (generally over $200,000). However, if your balance is lower, the fees associated with running an SMSF might outweigh the benefits.

Legal Responsibilities

As an SMSF trustee, you are responsible for ensuring the fund complies with all legal requirements. This includes lodging annual tax returns, audits, and meeting strict investment rules. Failure to comply can result in severe penalties.

Investment Strategy and Time Commitment

You should have a clear investment strategy that aligns with your risk tolerance and retirement goals. You’ll also need to dedicate time to managing the fund, including record-keeping and compliance with regulations.

Ready to Take Control of Your Superannuation?

Navigating superannuation doesn’t have to be complicated. Our team of experts are here to guide you every step of the way, ensuring you make informed decisions for your financial future.

Contact us today to arrange a meeting with one of our experienced financial advisers and start planning for the retirement you deserve.