Retirement & Superannuation Planning & Financial Advice
Superannuation is still one of the best places to accumulate wealth and save for retirement. This is primarily due to its favourable tax treatment.
At Total Wealth Management, our superannuation advisors make superannuation less complicated by keeping up to date with legislative changes regarding super, tax, social security, estate planning features and other retirement issues.
Our Financial Planners have broad superannuation strategy knowledge for every age group. We start with a comprehensive understanding of your retirement goals and objectives and align them to your personalised risk profile. We couple this with comprehensive research to provide you with the best superannuation advice that helps achieve your retirement goals and investment portfolio.
Which Superannuation Fund Is Most Suited To You?
Your superannuation fund needs to be structured in a way that helps you build a financially safe retirement. There are several funds that clients can choose from:
- Industry super funds – eg QSuper, SunSuper, REST, HOSTplus, Australian Super, UniSuper, LGIA Super and many more.
- Employer-sponsored super fund (super funds as provided by your employer)
- Public sector super fund – eg Military Super, Defence Force Retirement & Death Benefits Scheme (DFRDB), Commonwealth Superannuation Corporation
- Defined Benefits funds
- Retail and wholesale master trust super fund or
- Self-managed super fund
Choosing the wrong superannuation fund can result in lesser savings, expensive ongoing fees & charges, and a mismatch between your preferred risk profile and actual investment risk.
That is why we not only assist you in picking the right super fund, we also monitor performance and make adjustments when necessary. For example, when one’s life, career, family or lifestyle goals change.
One of the biggest concerns our clients often have is that they don’t know where their funds are invested, what assets and investments they hold. Our ongoing education and support gives greater peace of mind and more transparency where your retirement wealth is invested.
Which Superannuation Strategy Is Best to Build Financial Prosperity?
Here are some strategies and investments that can be considered:
- Boosting savings and minimising tax via salary sacrifice
- Diverting cash flow from your home loan into your super
- Growing your super without reducing your income
- Investing non-super money in your super
- Topping up your super with the help from the Government
- Contributing to your super and offset capital gains tax
- Purchasing Life and TPD insurance tax-effectively
- Converting business capital into tax-free retirement benefits
- Owning your own superannuation funds & assets to maximise Centrelink entitlements
There are no one-size-fits-all retirement plans. At Total Wealth Management, we provide superannuation advice to help our clients choose the right strategy or mix of strategies best tailored to their own circumstances. Alternatively, if you are thinking about self-managed super funds we can also help you with that.
SELF MANAGED SUPERANNUATION FUNDS
Self-managed super is the largest and fastest-growing super sector in Australia. A major reason for the growing popularity of self-managed super funds (SMSF) is the level of investment freedom they offer.
What is Self-Managed Super?
It is a private superannuation trust structure that is self-managed. Self-managing your super fund means you are completely responsible for all the decisions and administration of the fund; including but not limited to, investment strategy, insurance and trustee members.
In addition to the usual benefits you have with investing in the superannuation environment, with an SMSF, you can potentially have greater tax and estate planning flexibility than other funds.
At Total Wealth Management, we believe running a self-managed super fund doesn’t have to be complicated. We will help you decide whether a self-managed super fund is right for you and if so, walk you through all the requirements to create one.
Along with the usual strategic superannuation advice, we will also help to ensure you meet all the legal requirements as a trustee of your own super fund and effectively respond to legislative changes.
Some powerful strategies we consider for a self-managed super fund are:
- Personalise your investment strategy
- Purchase property tax-effectively
- Keep it all in the family
- Grow your super with borrowed money
- Make Critical Illness (Trauma) insurance more affordable
- Claim death and disability benefits as a tax deduction
- Ownership of superannuation assets to maximise Centrelink entitlements
We can also help navigate you through general SMSF questions such as:
- How much do you need for a self-managed super fund?
- When can I access my self-managed super?
- What are the risks of self-managed super funds (SMSF)?
- Who is responsible for managing a Self Managed Super Fund?
- How do I set up an SMSF?
Click here or talk to us today at (07) 3281 1226 to find out more about superannuation strategy advice we can provide.
