Expert Superannuation Advice from Trusted Advisors
Superannuation is arguably one of the most significant investments you make in your life outside of the family home. Yet, many do not know where their super is and how it can be used to make retirement seamless.
How can I grow my superannuation?
It is never too early to understand how your superannuation works. There are many things to consider, so we’ve listed a few below.
- How your super is invested
- The investment options available
- The fees you are paying
- How your super’s performance is tracking compared to alternative funds
- The various contribution limits and strategies you can take advantage of
- The potential tax benefits available
- Do you have unclaimed super?
- What happens to your super when you pass away?
With a team of financial planning experts, the Inovayt Wealth team can provide personalised superannuation advice and services to help you create your dream financial future.
Superannuation AdviceFor a Comfortable Retirement
Superannuation is a long-term investment that can either make or break your retirement. As a leading superannuation financial advisor, our goal at Inovayt is to help you towards a financially secure retirement. Understanding the dynamics of superannuation can be complex, and that’s why partnering with the right superannuation advisor is a good strategy for your long term retirement plans.
Making the Most of Your Superannuation Advisor
To fully leverage your superannuation as a way to fund your retirement, it’s essential to understand the various aspects that contribute to its growth. A superannuation advisor can guide you on these key areas:
- Investment Choices:The type of investments you choose plays a significant role in the growth of your super. A superannuation broker can help identify the right asset mix that aligns with your risk tolerance and investment horizon.
- Fee Structures: Understanding and minimising the fees you pay can significantly impact the value of your superannuation over time. Our team assists in analysing these fees, ensuring you’re not overpaying and that the costs are in line with the services and benefits provided. This can include management fees, investment fees, and any other charges associated with your superannuation fund.
- Contribution Strategies: Maximising your contributions, whether they are employer contributions, salary sacrifice, or personal contributions, is key to building wealth. Your advisor can guide you on the most tax-effective contribution strategies and help you understand contribution limits and rules.
- Tax Implications: Superannuation can offer significant tax advantages. An advisor can explain how contributions, investment earnings, and retirement withdrawals are taxed, and suggest strategies to minimise tax, while at the same time, maximise retirement savings.
Unclaimed is a Lost Opportunity for Building Your Balance
Lost, or unclaimed superannuation, is an issue that affects thousands of Australians, and it can have a big impact on your superannuation balance. It’s easy to lose track of superannuation accounts that have a small balance, or ones which were set up by a previous employer, whom you haven’t worked for in years. This is especially common for people who have worked many part time jobs without consolidating their super funds.
Finding lost super and consolidating these into your main superannuation account is vitally important. You may be paying fees on multiple accounts, and without making a contribution, these fees may be eroding your balance. As your superannuation broker, we can assist in tracking down these funds, ensuring that every dollar is working towards your retirement.
Superannuation Advice and Estate Planning
Understanding what happens to your superannuation after you pass away is a crucial aspect of financial planning. While planning what happens after you’re gone is uncomfortable for some, it should be part of your long term planning strategy.
Our advisors provide guidance on estate planning, including nominating beneficiaries and ensuring your super is distributed according to your wishes. This provides both you and your loved ones peace of mind and one less thing to worry about when you’re gone.
Ready to Take the Next Step With Your Superannuation Financial Advisor?
The path to a secure retirement begins with understanding your superannuation. With Inovayt, you have a team of dedicated superannuation financial advisors ready to assist you in making informed decisions. Whether you’re starting to build your retirement savings or looking to optimise your existing superannuation, our personalised advice and services are designed to meet your unique needs.
Connect with us for a detailed superannuation strategy session to set you up for retirement.
Explore Our Range of Financial Solutions
In addition to superannuation advice, Inovayt offers a full suite of financial services, including mortgage broker Australian options. Plus, our Brisbane financial advisor team is ready to guide you through complex financial decisions. Meanwhile, in Adelaide, our experts provide financial advice Adelaide, tailored to your specific needs. And our financial advisors in Melbourne are skilled in offering specialised solutions for Victorians. No matter your location, we’re here to help you on your financial journey.
What our clients say
Is an SMSF right for me?
Understanding whether or not an SMSF is right for you is something that can be quite complex. A financial advisor can partner with you in shaping your financial future, offering superannuation advice tailored to your unique needs and goals. An investments advisor can go through the intricate details of superannuation policies, investment strategies, and tax implications, ensuring that every decision aligns with your retirement aspirations.
You generally need to have a reasonable amount of super to justify the costs of an SMSF. The ATO suggests a minimum balance of $200,000 for an SMSF to be competitive.
There are costs to set up an SMSF as well as ongoing running costs. The running costs of an SMSF vary depending on how you choose to manage your SMSF and the investment strategy you implement. The more complex the investment strategy, the more it is likely to cost.
This means that your SMSF and its assets are used solely to provide you and other members benefits for retirement. A common misconception is having an SMSF allows you early access to your super or to buy a holiday home or artwork to decorate your house. These things are illegal.
A firm grasp of investment knowledge is highly recommended as you’ll need to monitor your investment strategy, research investment options, keep on top of how your investments are performing and keep up to date with regulatory superannuation changes that may affect you.
Whether you are thinking about setting up an SMSF or would like guidance on managing your established fund better, please get in touch with our team to guide you in the right direction.
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