JP is Principal at
Paramount Wealth
Management.
to understand the dangers of self-diagnosis
of a medical condition or, worse still,
deciding on how best to treat the condition.
this foolishness, most of us know the most
sensible and safe approach is to place our
health and wellbeing in the hands of those
qualified for the task.
particularly retirement plans so many
people see no problem in attempting to
devise and manage their own
strategies themselves?
electing to refer to private superannuation
funds of four or less members administered
by them as Self Managed Superannuation
Funds (SMSFs). While there may be some
people capable of doing so, the vast majority
knowledge nor the capacity to manage a
super fund.
professional financial advisers who possess
the requisite expertise in superannuation
planning and management, especially
for SMSFs.
Funds, the raft of recent legislative changes
affecting superannuation has taken the
complexity of managing SMSFs to a whole
new level. And, given the potential penalties
for not complying with superannuation
regulations, there is little question this is
now something best left to the experts.
comes to the differences between a SMSF and
a public-offer fund, it is these differences that
determine whether a SMSF is the right choice.