Welcome to The Local Financial Planner. We sit under the roof of The Local Financial Group.
We are here to help you create the future that we all dream of. We specialise in wealth creation,
insurances, budgeting and financial freedom. Get one of our fabulous planners to assist you in
staying ahead of the financial game by bringing out the best possible you.

Self Managed Super Fund

Self-managed super funds (SMSFs) are a way of saving for your retirement.

Self Managed Super Couples

Setting up and running a SMSF can seem intimidating but with the right advice it can be simpler than you think

For many Australians, the prospect of running their own Self Managed Superannuation Fund (SMSF) represents greater freedom, flexibility and absolute control – the opportunity to carve out their own path. For others, SMSFs can seem complex and onerous. The answer is probably somewhere in the middle.

If you are thinking of going down the SMSF path please contact The Local Financial Planner

The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the trustees. This means the members of the SMSF run it for their benefit and are responsible for complying with the super and tax laws.

Your in charge

If you set up a self-managed super fund (SMSF), you’re in charge – you make the investment decisions for the fund and you’re held responsible for complying with the super and tax laws. It’s a major financial decision and you need to have the time and skills to do it. There may be better options for your super savings.

The goal of a SMSF

An SMSF must be run for the sole purpose of providing retirement benefits for the members or their dependants. Don’t set up an SMSF to try to get early access to your super, or to buy a holiday home or artworks to decorate your house. These things are illegal.

Management

These funds require a trust deed, trustees, members, a bank account and an investment strategy. There are many pros and cons to a SMSF and you need to understand them all.

The Local Financial Planner recommends you do not start on a SMSF journey without taking financial advice first.