According to the Australian Taxation Office (ATO) statistics, there were (as at 30th June 2021), approximately 600,000 Self Managed Super Funds (SMSF) holding approximately $820 billion in assets or about 25% of the $3.3 trillion invested in superannuation.
With the advent of COVID, many saw this as an opportunity to take control of their wealth creation. This not only applied to investments within superannuation but also outside of super. The 2021 financial year saw approximately 25,000 SMSF’s established which is more than the previous 5 years combined.
SMSF’s give members control, flexibility and choice over how their retirement savings are invested. In addition a SMSF provides greater flexibility in creating retirement strategies.
We at The Garis Group have been using SMSF’s heavily with our clients as the SMSF structure is a great fit for business owners to not only grow their family’s long term wealth, but also leverage them to grow their business.
If you want to know how you can become a SMSF millionaire, contact us today on 4969 4699 to arrange an initial no obligation free appointment or book an appointment online.
