Managing your own super allows you to control exactly where your savings go, but, unlike going through an industry super fund, it requires more monitoring and management on your part.
This is a big decision to make, and one that should be made carefully, with discussion and advice from your family and financial advisers.
The factsIf you decide to start an SMSF, you’ll need to be prepared to meet compliance requirements on your own. That means checking what you need to report, monitoring your money and lodging the right documents.
How Selfmade does itWith Selfmade, you have all the access you need to effectively manage your super while keeping compliant. You can upload and safekeep documents within the app, and keep track of regulations and requirements. We set you up and prepare all of your fund’s annual tax returns and other reporting requirements. We will notify you of all the things you need to do to stay compliant and help you make the most of your money.
If you’re unsure whether a SMSF is right for you, we recommend seeking independent financial advice before diving into setting up your Selfmade super account.