It is exciting to see that Australians are embracing the use and setup of an SMSF. We reported to you 18 months ago that the SMSF sector was growing at approximately $23,200 per minute. Now in our March 2021 newsletter, we see this increase triple. The sector is now growing at $62,400 per minute as reported in our March 2021 newsletter. It works out at 33 new SMS setup a day are now being established.
Over the last year the average superannuation balance achieved a result of average of 5.3% over five years. The changing nature of investing means investors now more than ever must be astute and understand the markets.
We are SMSF Specialists here to help you!
Our practice specialises in SMSF for small business and families. Geoff Gartly is an authorised representative of Merit Wealth and when it comes to understand the fundamentals of an SMSF he can help you.
Reaon for the Growth?
Why has there been a sudden rise in SMSF growth.
There are several reasons for this:
- Increase in members wanting to dabble in the share market.
- Better control
- Sometimes lower costs to run an SMSF compared to a public fund.
- Ability to purchase property with an SMSF.
We are going through interesting times. Low interest rates is fuelling investors desire to take greater risk and look harder at property and quality shares Old money from the passing of the last generation is now entering into the market, fuelling peoples passion to invest in higher yielding or capital growth assets.
Everybody’s situation is different and when providing you advice we need to review your full situation as to how a self-managed superannuation fund can help you. We are often asked what I can or can’t do with your SMSF and happy to answer any questions that you may have.
We are also seeing the older situation reviewing the use of their SMSF and how they too need to plan for their estate and love ones. It’s not always easy to start to plan for these life moments but we are happy to help you start the process.
If you are thinking smsf setup is something you are thinking then please reach out.