One should always learn about the pros and cons of the investments they are trying to make. In case of SMSF pros and cons are laid out below for you to decide for yourself.

Pros of SMSF:

Risk free investments
Many people choose SMSF because it supports diverse investments and you can literally make your money risk averse to changing times. No one wants to lose their investment, the high returns and benefits of SMSF come with a safe and risk free long term investment.

Tax benefits
ATO gives you tax benefits if you are a SMSF trustee or member. This requires you to get your SMSF audited every year and submit the report to ATO.

Retirement Planner
Since, SMSF is a long term investment and yields at the time of retirement, all members and trustees can plan a happy retirement. This is one of the key pros of SMSF. You can meet your financial advisor or any SMSF expert and plan it very well.

Insurance Benefits
You always need insurance for yourself and your family. Both SMSF and insurance benefits go hand in hand. As your financial situation, your insurance also depends on that. Get in touch with SMSF consultants for more details.

Cons of SMSF:

Administration Required
Yes, you cannot be forgetful about this long term investment. It needs you to be on your toes as a trustee. Every year it needs auditing and all round the year you have to manage your SMSF, in order to get proper profits.

Long Term
For all those looking to make a quick few dollars, SMSF is not your cup of coffee. It is a long term investment and for young people this is considered as a con. They want high yielding investments in less time.

Financial Knowledge Needed and Costs Involved
You should have financial expertise to handle SMSF on your own. Otherwise your expenses to handle, manage and audit SMSF will be on a higher side. Not everyone wants to make such investments.

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

We are happy to help and answer all your SMSF queries and doubts.