Gain Control Over Your Retirement

Gain Control Over Your Retirement

We have become accustomed to bad news jogging news headlines. It seems that for the past two or maybe four years (depending who your source of information is? We’ve been stuck on a roller coaster of bad news. Donald Trump happened the trade wars, ISIS, refugee crises, Brexit, just a never ending feeling that we were on the verge of the end of the world. And then it happened: The Corona Virus became the single most-important thing in the world. Suddenly we were caught up in what felt like World War III. We woke up to daily news about people dying, people starving, just total despair. We weren’t prepared for it.

If there is one thing that 2020 has taught many people is the importance of being prepared for the worst. Investing in the usual things won’t be enough anymore. You can no longer count having a home as your most important investment, especially not if you are still paying a mortgage. The stock market can crash and it has failed. On the other hand precious metals like gold seemed to be doing alright. The lockdown caused a shortage of gold bullion, causing the price to go up as supply wasn’t meeting demand. At the se time people who owned gold found that they could fall back on the yellow metal to get the emergency cash they needed to make up for things like sudden loss of income, the high price of food and other essentials. Besides our homes and shares the best investment that anyone can make is towards their superannuation. However, this ends up being just some big superfund every time we get our salary and some faceless fund manager takes the decisions on how it should be invested.

You can choose how you would like the breakdown of those investments should be. You can split it between shares, cash or property. Better yet, look for investment types that handle risk better like gold. This way you know you get better returns even when the economy is tanking. The only problem with this kind of superannuation is that you can only make changes once a year and there is just one superfund managed by one fund manager you’ll never get to talk to. There is another alternative and that is the Self-Managed Superannuation fund.

This kind of fund gives you more choice and you can buy gold smsf to increase the returns on your investment. Self-Managed might sound a little daunting- too hard, too much work. What are the regulations? Do you need a lawyer and an accountant?

The truth is, this is just a sophisticated long term saving scheme for your retirement. Things might be too hard and out of your control right now, and your future might seem uncertain, retirement is something you really should be thinking of. There are rules but these are meant to protect your money for retirement. However, it does give you a chance to have a say on how you want to maximize on your earnings.

With a Self-Managed Superannuation fund you are the trustee, you are the fund manager and you are in charge of the investment strategy. You can split the investment strategy however you want and buy gold smsf to protect your investment in times of financial crisis. You are also the beneficiary so you have to be careful about what you are doing. Speak to a gold dealer who offers services for SMSF to see what can be done for you.