Everyone is keen on learning investment tips and strategies as they change and evolve every year. In 2016 SMSF investment strategy has taken a completely different turn.

These 6 key considerations will definitely help you jump over the hurdles and gain from every dollar you add to your fund.

1. Learn about SMSF obligations
Before you even start your brand new SMSF fund, you need to be well-versed with your SMSF obligations. Like for driving an automobile you need a driving license, similarly you need to learn about your dos and don’ts of SMSF. You can read this in the ATO guide or ask your current CPA or accountant.

2. Risk Assessment
While you are keen on growing your investment, make sure that you have enough to begin investing in different spheres. This is an important investment prerequisite that many ignore and then get stuck mid way. A rock solid investment strategy is a proper mix of risk assessment and having what it takes to run a fund successfully.

3. Review all your Assets
All compliance related reviewing of your entire assets needs to be done. All paperwork and agreements must be studied carefully. This means that you review all your assets and add to your fund, this way you are investing soundly and not under peer pressure or false hopes.

4. Tax Efficiency
Most investments in SMSF are done, either to fulfil a happy retirement dream or to get maximum tax deductions through high paying investments. Check with ATO thoroughly that both your state’s regulations and investment strategy match and are compliant with each other. Be careful in this step as this will govern all the profits you will reap.

5. Adaptability
Any SMSF trustee with enough years in the investment cycle will tell you to be adaptable. Adopt this from your very first fiscal year as an SMSF member. It is a quality that will make your rich and prosperous, because you will be brave enough to let go of losses and focus on new investment.

6. Insurance Requirement
Also ensure that all SMSF members have insurance related requirement sorted and the SMSF should not suffer in case of any mishaps or dire needs. This will be a reason of loss of investment. So, all members are advised to get their insurance done, to make sure the fund is sound and won’t be harmed.

In conclusion we have to say that, if it is hard for you to do it yourself, you should outsource SMSF management to experts and do what you are an expert in. Your money will grow and your effort will be minimal.

Want to know more about SMSF? Contact our experts on 1300 707 326 or [email protected] today.