Posted on January 18, 2023
Important Facts About Self Managed Superannuation
Self managed superannuation (SMS) is a way of investing in your own retirement savings. It involves developing and managing your own retirement fund, rather than paying an adviser to do it for you. Self managed superannuation can be a great option if you have the time and energy to invest yourself, and you're comfortable with making decisions on your own.
Self managed superannuation (SMS) is a type of retirement savings plan in which members manage their own funds. This differs from traditional retirement savings plans, such as workplace pensions, which are managed by an employer. You can also know more about SMS via https://www.dmafs.com.au/. Self managed superannuation is becoming increasingly popular for a number of reasons.
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Some people find that it is more convenient to manage their own money, and others believe that it offers greater opportunities for financial freedom. With self managed superannuation you have the ultimate decision-making power over your money.
This means that you can decide how and when to invest your resources, and avoid potentially high fees associated with investment products offered by most superannuation schemes. Because self managed superannuation is normally entirely funded through after-tax contributions, you can access your capital sooner than with a Traditional Super Fund which typically requires 5 years of earnings saved before distributions start.
Self managed superannuation (SMS) is a highly popular way for Australians to manage their retirement savings. With SMS, you have full control over how much money you contribute each year and can stop contributions any time you want without penalty.