When determining which investments will be
suitable for your retirement goals, it is important to enlist the services of a
licensed SMSF professional who has experience with retirement planning. Future Assist are experts in helping Australians determine the right investment strategy
to suit their retirement goals.
You know, following your instincts, picking
out great options for a good return and all the other things you imagine
yourself doing when you first decided to take control of your financial future..
Agood SMSF investment strategy is not just about fulfilling the legal
requirements. It is about putting a plan in place that you can stick to and can
help you navigate the complex investment fields you may be looking into.
Instead, look at your SMSF investment
strategy as giving you a coherent shape to the balance of your portfolio
allowing you to manage it in a way that meets your objectives and making it
less likely that you will dive into bad investments. After all in what other
work of life would you begin without a plan in place? If you were starting a
business you would have done thorough market and competitor research,
established the viability of the business and known and advanced on almost
everything that was likely to happen on the first year or two for everything
from battles to the likely pass of our lives.
Having an overall strategy is vital.
Trying
to work without one is like trying to navigate by map without having decided on
a destination, you might enjoy the journey but you aren’t likely to end up anywhere
useful. The same thing applies to your superannuation fund, you need to be
clear from the start about exactly what you want out of it, what level of
return do you want, what level of risk are you willing to expose yourself to,
how long a term do you want your investments to be, and what areas do you plan
on putting your money into.
It is important to also plan around your level of
risk tolerance. Some investments invariably have a higher risk associated with
them. Depending on your stage of life and other internal and external factors,
will determine the appropriate level of risk you should look at approaching
your investments.
An effective investment strategy will also
consider the administrative and compliance requirements of your investments and
ensure your fund is fully compliant at all times and with all investments.
This is where a licensed professional can
provide invaluable guidance that will help you ascertain which investment
strategy will suit your goals.
If these sound like a basic considerations,
that is because they are and yet if you don’t have a SMSF investment strategy
it can be detrimental to your overall fund results. So make sure you have a SMSF
investment strategy before you start to risk your money. Know what you want out
of it and how you plan to get it, don’t just treat it as a boring chore that
you are forced to complete.
Treat it as an opportunity to give your portfolio a
clear direction. In doing this you will quickly find that it has a far more
coherent shape and will be an invaluable guide for choosing your investments
for your SMSF.
Hopefully now you can see how important an
effective investment strategy can be for your SMSF, and the importance of
seeking professional licensed advice to help you administer your fund and
ensure it is compliant.
Future Assist Financial Services Group specialise in self-managed superannuation (SMSF) administration, compliance and investment advice.
Speak to a licensed adviser today on: 1300 118 618
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