How to Manage Your Own Superannuation Fund

If it is the latter, and you believe that you can do a better job with your finances or you want more control over your retirement funds, then having your own self-managed pension funds ( 'SMSF') is an option.

Self-managed super funds are becoming very popular. Basically, this is a pension that you manage yourself and be named guardian, which means you can run all the decisions, manage the investments made and comply with laws that protect and regulate the fund.

There are many companies which provide self-managed super fund auditors.

Four members can be registered in the SMSF so that your family can be named and closed. There are several factors to consider, such as the following:

• You must be very good at tracking your money and stay in compliance with all the rules. Everything you do, every decision you make will be tracked by the ATO, so you should make sure that your records are stored in the order. Otherwise, this could cause problems at a later time to the pension fund managed by yourself.

• You must have the time to research your decision, watch the market and generally manage the fund.

• Do not like leaving the choice to an investment fund manager is super; SMSF requires the constant attention of the trustee. There are many super fund managers who have done a poor job of running the nest eggs of many people.

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