05 Mar Give Your Superannuation A Boost
An alternative way of building up your retirement savings
While most of us will hopefully accumulate enough superannuation throughout our working lives to have a comfortable retirement, many of us simply won’t have the funds there to splurge on something nice every now and then.
What if we could tell you there’s a way to boost your superannuation earnings that reduces the amount of tax you have to pay on your contributions at the same time – would you be interested?
Consider purchasing an investment property within a Self-Managed Superannuation Fund (SMSF). The interest on the Investment property loan is 100% tax deductible which means not only will you be making more money; you’ll be saving tax at the same time!
The other benefit of investing in property through your SMSF is diversification. Some people are tired of the share market’s ever volatile state and prefer property as an investment. Investing in property in additional to shares will mean you won’t have all your eggs in one basket. This gives you peace of mind knowing a sharp downturn in shares one day won’t be the end of your retirement savings.
Sounds good? Absolutely, but it isn’t something you should rush into without discussing your situation with your Accountant or Wealth Advisor first. Investing in property through an SMSF can be complex and will require some expert external knowledge to get you started
Make an appointment with Stafford Accounting today to discuss your situation and see if property within an SMSF is right for you.