When it comes to self-managed super funds there is often a sense of it being too hard, too risky or too scary for the average person to manage. However, the good news is that there is an option available that gives you all the benefits of an SMSF, without the stress, hard work and fear of the unknown—a self-managed ‘managed’ super fund.
A self-managed ‘managed’ super fund, or SMMSF, differs from an SMSF in that you are not doing it alone. Instead, you have a team of experts supporting you, effectively managing the fund on your behalf. In essence this works in a similar way to an industry or retail fund, except you have control over your investments and the fund is run entirely for your benefit—and it is this aspect that sets it apart as a powerful investment strategy.
We offer our clients the chance to utilise this strategy through our Accelerator Programs: the Property Portfolio Program for those looking to invest in property and the Home Buyer Program for those looking to leverage their super to purchase a home to live in. Both strategies are based around switching to an SMSF then working with our team of experts to invest in property, maximising the benefits without the burden of managing the fund alone. So if you’re keen to find out more and discover if it’s a good fit for you, read on to learn the key difference between an SMSF and an SMMSF.
Less time, effort and hard work for you
One of the most common concerns we hear from those considering switching to an SMSF is that they will spend hours every week bogged down in the administrative side of things—and for those who choose to do it alone this can be true. There are many legal requirements and reporting responsibilities attached to operating an SMSF, from detailing your investment strategies to documenting your insurance. However, when you opt for an SMMSF your team will expertly take care of this for you, keeping meticulous records and making sure that everything is reported accurately and promptly. This frees up your time for doing the things you enjoy!
Expert knowledge sets you apart
Another perceived drawback is the level of knowledge you need to create and execute an investment strategy that will really maximise your gains—and this is where an SMMSF truly excels. With investment experts on your team, you don’t need to be a financial guru. Even if your investment knowledge is limited (or nonexistent) you can still be confident your money is not only safe, it’s working hard to secure your financial future. A requirement of setting up an SMSF is to have a sound investment strategy in place, and with expert financial planners and advisors on your team, you can be confident in the direction and execution of your plan.
Ongoing support for sustainable growth
A critical element of managing a successful SMSF that will set you up financially is the reviewing and revising of your investments and strategy to be sure your fund is operating optimally, in both the short and long term. But the time and expertise required to do this well means many funds just tick along, or worse start to go downhill due to neglect. With an SMMSF you can be sure your investments are carefully planned, executed and regularly revised in partnership with you to grow your fund and wealth sustainably.
The extra ‘managed’ goes a long way
If you wish to take advantage of the benefits of an SMSF, but are worried about the extra work involved and knowledge needed to make it a success, an SMMSF could be the perfect solution.
With the full support of an expert team behind you, you can set yourself up for financial freedom through property investment inside your superannuation—and best of all, it requires minimal time and effort from you.
To find out more about our Property Portfolio and Home Buyer Accelerator Programs and discover if this strategy could work for you, get in touch with our friendly team today!