Planning ahead of time and age, one requires the best resources to garner requisite knowledge with respect to saving for a comfortable retirement stage. In Australia, individual belonging to the managerial working class have a shrewd understanding of the financial market. A white collar working professional is aware of the factors that have the power to influence their income or pension after retirement for better or for worse.

With increasing awareness, individuals have garnered a better understanding of how various markets react and perform in different economic conditions. This allows them to be a better judge at accessing and identifying a lucrative investment opportunity in a preferential market or industry. For instance, many of us have an inclination towards increasing assets by means like investing in real estate or personal property.

A popular means to save and save big for your retirement is by setting up SMSF or self managed superannuation funds. The concept of self managed superannuation funds is based on the concept wherein the members become solely responsible for the managing their superannuation fund. Setup SMSF is considered among the most reliable ways to ensure that your retirement period is secured according to your plan.

Here are a few reasons why SMSF is counted among the most lucrative alternatives for long terms and reliable investments.

• When establishing a self managed super fund, it brings a foray of investment opportunities that one can take for their future. An advantageous aspect of these types of funds is it ensures complete autonomy in decision making for the members. Property SMSF investment opportunity is a widely chosen option for members in a self managed super fund.

• The second most important benefit that has emerged quite often is the benefit of low expense in comparison to other retail superannuation funds. The cost of maintenance and investments are considerably less in self managed funds. As a member is an active trustee is the fund, there is more opportunity and more scope with members deciding upon the best the direction for the fund’s investments.

• Another noteworthy benefit of managing super funds on your own is the tax advantage granted by the governing body in Australia. Under the guidelines of ATO or Australian Taxation Office, tax charged for a single self managed superannuation fund is only 15 per cent and not more.

After covering a number of its benefits, there are a number of responsibilities to be considered as well. for managing any time of accounts there is a need for regular auditing and monitoring of accounts for its accuracy and reliability. Accountants and SMSF Auditors will be a reliable medium to accomplish complete accuracy in account keeping.

The Author is an experienced Content writer and publisher for Business Development. For more information, visit: SMSF Auditors, Property SMSF and Setup SMSF.