For many, superannuation is the only asset they’ll accumulate for retirement. Others may ignore it for a number of reasons. Superannuation should be an essential component of any retirement plan.
We believe you should treat your superannuation just like any other asset. That means being actively involved in its performance – not just ignoring it as a ‘set and forget’ strategy.
How come? For two really good reasons.
Firstly, the long-term compounding effect of your earnings combined with the tax benefits attached to superannuation produces a much greater asset value for you at retirement than if you invested outside of superannuation.
Secondly, superannuation provides protection for the assets you have invested in your super fund – but not if you’ve made contributions as part of a plan to shift assets out of reach of creditors.
If you want to know more about what type of fund you should invest in, Self Managed Superannuation Funds and checklists, view or download our Financially Well Organised Superannuation Plan paper. Alternatively, contact FWO Chartered Accountants to consult with a qualified licensed advisor.