September 18, 2023

Luke on 2CC – What’s the difference between a self managed super fund and a personal super fund?

18 minutes

Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in Money Matters, which aired on Friday 15 September 2023. Did you know some people move from an industry super fund into a self managed superfund? Maybe you’re one of them. Did you know there’s something in between – ‘a personal super fund’. The topic this week for the show is: What’s the difference between a self managed superfund and a personal super fund?

Key topics covered include:

Regardless of the type of superfund, all funds operate under the same rules

Different super vehicles have different features, you need to find the vehicle that’s right for your needs

A personal super fund for example has a wide variety of investment options, like a self managed super fund – shares, efts, managed funds

You can’t however buy a property in a personal super fund like you can a self managed super fund.

A self managed super fund requires you to complete all trustee and administration work where a personal super fund takes care of that for you.

There are other differences with personal super funds too, that’s a step between industry and self managed funds.

Personal super funds also provide options with dividends, franking credits, estate planning and at retirement too.

Finally, Luke shares his top tips around selecting the right super fund for you

Remember seek advice if you need help. You don’t have to go it alone, it can be complicated especially when you don’t deal with it everyday.

https://www.envisionfinancial.com.au/wp-content/uploads/2023/09/The-Strategy-Stacker-Luke-Talks-Money-15092023.mp3

Also available on Apple Podcasts and Spotify – ‘The Strategy Stacker – Luke Talks Money’

Do you need help with your super or retirement plans?

Have you thought about the super vehicle you’re driving and is it delivering the features and benefits you need to reach your retirement destination? Seek advice if you need help with your retirement goals and savings.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement. Make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your situation.

Luke will return to 2CC to talk about other ‘Money Matters’ next week. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again and Luke’s book Smart Money Strategy is out now.

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By Luke Smith