If you are a pre-retiree or retiree, could you afford to financially support your adult children and/or your grandchildren if they faced serious injury, illness or worse? How would your income stream be affected and what would be the long-term ramifications for your retirement lifestyle? Here, we outline some important considerations for protecting your retirement and the wellbeing of those you love.
SMSFs account for more than a third of Australia's invested super funds, but your decision making should be based on more than popularity. Taking on an SMSF means taking on the dual roles of fund member and Trustee. There are many more considerations you'll need to be aware of BEFORE making the switch.