did you watch the 60 minutes report on superannuation last night?

SuperannuationIf you were one of the many watching Charles Wooley aim and fire at superannuation last night (myself included), you might be thinking superannuation is all bad news.

Charles Wooley said this in response to the proposed super changes, “We should all be happy about the new plan for cheaper, simpler super announced during the week, but for many baby boomers, it’s a bit late.”

The fact is though, the three asset classes individuals usually invest in outside of super are the exact same three asset classes that the majority of superannuation funds invest in: cash, property and shares.

Therefore, the returns on these assets classes are the same, whether they are inside or outside of super. The only difference is superannuation offers a far more attractive tax environment.

So why does the media constantly pick on superannuation? Because it’s an easy target: the returns are evident for all to see. And, of course, struggling baby boomers makes a “good story”.

Stan and Margaret, the boisterous baby boomers in the story who owned the motel and were actively waiving the Self-Managed Superannuation Fund (SMSF) flag, are on to something.

Just like any other investment, your superannuation fund requires active involvement, rather than ignoring it and treating it as a “set and forget” strategy.

Being in control of your super and managing your investments is an essential part of your retirement strategy.

You can be guaranteed that a superannuation strategy that is tailored to the individual and his/her current and projected business situation will pay dividends in the long run!

elliotts offers two superannuation products that allow you to control your super. SMSFs and our DIY Super Fund.

SMSF’s are the solution for a number of people and we specialise in the establishment and administration of your self-managed super fund (SMSF). We take the hassle out of the complex admin and compliance aspects for you, ensuring your fund is established correctly and administered on an ongoing basis.

elliotts are approved SMSF auditors and licensed under RG146 to provide advice on SMSFs.

For those who don’t want the hassle of auditors, our DIY Super product gives you the same control, without the paper work. It gives you the flexibility to manage your investments, without the legal requirements that come with a SMSF.

With last week’s Cooper Review, the changes proposed by the Federal Government will have an impact.

Regardless of your situation, now is the time to review your super.

Call elliotts today on 07 3833 3999 or email on info@elliottsgroup.com.au to arrange a time to make the most out of your super.