Superannuation & SMSF Advice
Are you concerned about having enough superannuation to support your lifestyle in retirement? The team at Elliot Watson Financial Planning can provide expert advice on how to maximise your superannuation. Contact us today.
Achieve more options for the lifestyle you want in retirement
Superannuation is the number one investment vehicle Australians use to fund their retirement. It intends to incentivise, encourage and reward Australians for building wealth to fund their retirement.
Most Australians give little thought to their superannuation with a ‘set and forget’ approach until retirement is on the horizon. However, the reality is that the sooner you pay attention and focus on your superannuation, the more choices you will have in retirement.
Our superannuation advisers in Newcastle will help remove any questions you have about your superannuation like:
Our advisers will direct you on where and how you should invest your superannuation according to your needs, identify if a self-managed superannuation fund (SMSF) is suitable, regularly review your superannuation performance and advise you on ways to maximise your superannuation benefits.
With ongoing advice from our SMSF advisers in Newcastle, you can adopt a guilt-free ‘set and forget’ strategy with your superannuation, knowing that your superannuation is expertly cared for and regularly reviewed.
In Newcastle and beyond, superannuation can help give you financial freedom in retirement.
Gain peace of mind knowing your financial future is secure
Our team will work with you to ensure you are comfortable with your investment strategy. Where you should invest your superannuation depends on your situation, life stage and risk profile; based on these factors, we will help you select the superannuation fund that suits your circumstances.
Your superannuation will then be invested in a combination of defensive or growth assets.
We will identify if any government superannuation initiatives can help you achieve your goals faster by assessing the suitability of the following schemes:
The benefit of an ongoing relationship with our specialist advisers is that we will regularly review your superannuation in relation to legislative changes and new government initiatives. You can feel confident knowing that we work hard to maximise the benefits of the options you have available to you.
Client Situation
John had recently finished his apprenticeship and became a carpenter, which increased his income dramatically. John was sensible enough to realise that if he squandered the extra money on partying and having a good time with his mates, he would never get ahead and end up like his parents, always struggling and never having enough money, so he approached Elliot Watson Financial Planning for help.
Goals
Value of Advice
John’s adviser developed an income and expenditure budget, which was ultimately incorporated into his financial plan. From the budget, which verified all income and identified both one-off and ongoing expenditures, a cash flow analysis was undertaken, which subsequently identified a net surplus amount that could be applied to the savings strategies identified within the financial plan.
The second strategy was establishing a superannuation fund to meet John’s long-term financial goals.
A wealth protection plan was implemented to ensure appropriate indemnity for any risks associated with health, well-being and unforeseen accidents.
After implementing his financial plan, John was certain and clear about his financial position and future goals. As life progresses, John can make informed decisions about his financial goals and strategies.
John’s wealth protection plan provides a sense of security. He can be confident that should a major sickness or accident inadvertently occur at any time in the future, funding will be available to meet medical costs and replace lost income.
John has established one superannuation fund with a clear strategy for accumulating and building wealth over the long term, securing him the lifestyle he wants to live in retirement.
Testimonial
Thanks to Elliot Watson Financial Planning I have a plan in place to help me get ahead, grow my wealth and still have fun along the way.
FAQs about self-managed super funds in Newcastle
A self-managed super fund offers numerous benefits, including more control over your retirement savings. With an SMSF, you can tailor your investment strategy to suit your financial goals and risk tolerance. This includes a wider range of investment options like direct property, shares, and other assets not typically available in standard superannuation funds. Plus, SMSFs provide potential tax benefits, as you can strategically manage your contributions and withdrawals to optimise tax efficiency.
Another significant benefit is cost savings, particularly for larger fund balances. While SMSFs incur setup and ongoing management costs, these can become relatively lower per member as the fund’s balance grows, making it a cost-effective option for those with substantial superannuation savings.
An SMSF allows for greater estate planning flexibility, enabling you to implement personalised strategies to ensure your super benefits are distributed to your family members.
Seeking professional advice is highly beneficial. Managing an SMSF involves complex legal, tax, investment, and regulatory requirements, which can be challenging to navigate without expertise. Our SMSF financial advisers in Newcastle can guide you in setting up the fund, developing an investment strategy, ensuring compliance with regulations, and optimising tax benefits. Contact us today for SMSF services, expert assistance, and strategic planning.
Setting up an SMSF involves establishing a trust, creating a trust deed, appointing SMSF trustees, registering the fund with the Australian Taxation Office (ATO), and opening a bank account. You must also create an investment strategy that aligns with your retirement goals.
Our SMSF advisors in Newcastle can assist with the set-up, ensuring you’re set up for maximum investment returns and a stronger financial future.
Yes, SMSF property investment is allowed, provided the investment complies with the fund’s investment strategy and the sole purpose test, which ensures the fund is maintained to provide retirement benefits to members.
Get SMSF advice in Newcastle at Elliot Watson Financial Planning today.
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