What types of people have an SMSF?

There are many different types of people who have an SMSF. Some of the most common include:

  1. Small business owners: Many small business owners choose to set up an SMSF to help manage and invest their retirement savings. This allows them to have more control over their investments and potentially save on costs associated with professional management.

  2. High net worth individuals: SMSFs can be a good option for high net worth individuals, as they can invest in a wider range of assets and have more flexibility in how they manage their funds. This can also help them to diversify their investments and potentially generate higher returns.

  3. Couples and families: SMSFs can be set up by couples and families, which allows them to pool their resources and invest together. This can be a good option for those who want to plan for their retirement together and make joint investment decisions.

  4. Those who want more control over their investments: Many people choose to set up an SMSF because it gives them more control over their investments. They are able to make their own investment decisions, rather than relying on a professional trustee.

  5. Young or first-time investors: SMSFs can be a good option for young or first-time investors, as it allows them to start planning for their retirement early and learn about investing in the process.

It is important to note that SMSFs are not for everyone and it is important to seek professional advice before setting one up. Moreover, it is a complex and regulated area, so it is important to have a good understanding of the rules and regulations surrounding SMSFs.

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Disclaimer: This information should not be considered personal financial advice as it is intended to provide general advice only. This factsheet has been prepared by SuperHelp Australia Pty Ltd without taking into account your personal objectives, financial situations or needs.

 

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Sandra - SMSF Advisor

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