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SUPDIY045 SMSF – The next Gen (614 words)
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SUPDIY045.docx
Description
Self-managed super funds (SMSFs) are becoming increasingly popular among young Australians seeking to take control of their financial future. This article discusses the benefits and challenges of this investment strategy.
Introduction
While self-managed super funds have long been the preserve of older Australians with time on their hands and large superannuation balances, new data suggests that younger Australians are increasingly choosing to take direct control of their superannuation savings.
According to the Self-managed Super Fund Quarterly Report for September 2022, published by the Australian Tax Office, more than one in ten members of a self-managed super fund are aged under 45 years.
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