Why Go For DIY Super?

An Australian DIY Super fund is a great way to save money for your retirement or create wealth for your family. The Self Managed Super Funds have become a hot trend over the last few years with the benefits of having your own fund luring more and more people into the mix. Managing your superannuation fund gives you complete authority and you can work it the way you want without interference from anyone. So, why go for a DIY Super fund when there are many companies and financial institutions willing to do so for you?

There are a number of compelling reasons to do so:

·    The investment you will make into the fund will be at your discretion without any influence from anyone else. You can choose whatever you want to do with your money.

·    There are no fees involved in Self Managed Super funds as you are not going to use the services of a financial broker or any other professional.

·    You can vary your investments around a number of options. There is tremendous flexibility available to you and no need to put all your eggs in one basket.

·    Once you cross the age of 60, all the money in your super fund will become tax free. You can enjoy a luxurious lifestyle when you retire!

·    Borrowing can be done against your superannuation fund. This has been recently introduced and considered to be a huge advantage of having a Self Managed Super fund.

·    Legal costs which occur at the commencement of pension can be saved by merging your pension fund with the superannuation fund.

·    Decisions regarding division of assets and property that you have in the event of your death can be made through the fund. It offers you the chance to do estate planning in advance.

·    One of the killer features of DIY Super funds is that all the assets that you have accumulated in your fund are protected in the case that you have to file for bankruptcy. This means that you can bank on the resources in your fund if you are in deep waters.

There is no restriction on the life span of the superannuation fund you are running. It can be passed on from generation to generation. You have the chance to provide your future generations with the opportunity to have a high standard of living and a lifestyle that perhaps you didn’t enjoy.