WRS can supply your self managed super fund from start to finish and then discuss the various investment options available to self managed super fund’s to ensure that our clients are getting the most out of their SMSF. A SMSF is a “do-it-yourself” trust to manage your own superannuation assets.
It is important for investors to understand the advantages and disadvantages of running an SMSF before one is established. Only after considering all of the following issues should one be established. A SMSF has the advantage of being able to own direct property. There are restrictions around what type of property it can own and it is best to seek advice around this topic before making any decisions, but in recent times it has become a very popular vehicle for this purpose.
There are useful strategies available for business owners in this regard that are worth discussing with your financial adviser. A SMSF adds some flexibility in the assets you own but you need to be careful that you are not over stepping what is allowable. Hefty penalties exist for trustees who abuse the system either by accident or on purpose.
The idea of managing your own superannuation money seems like common sense. At WRS we have over 20 years of helping our clients establish and manage their SMSF’s. The compliance and regulatory requirements placed on trustees is onerous. Ensuring that your fund is compliant, decisions accurately documented, and strategies implemented within the letter of the law is just the beginning.
There is an idea out in the community that Superannuation is an investment of its own. It is spoken about as if it were an investment. My super made money last year but lost money the year before. This is inaccurate and I will tell you why. Super is a vehicle. It’s not an investment.
At WRS we take a staged approach to financial planning for our clients. We determine where the priorities are and then break down how we achieve those priorities. We take into consideration minimising tax payable and selecting assets that are relevant to your income or growth needs.
Our expertise in life insurance goes back over 20 years. Whether you need to protect your family or your business, WRS have the knowledge to ensure that you get the advice that fits the need.
If you are still reading then maybe you should consider either reviewing your existing income protection or taking out an income protection policy.
If you do not have a policy then let us explain what it is. Income protection keeps your income coming if you are injured or ill and unable to work.
At WRS we subscribe to the Warren Buffett approach in regards to investments. In recent commentary Warren Buffett recommended his wife , on Warren’s passing, direct a great deal of his monies to index investing. At WRS this has been our approach for over a decade.