Author: Team Superfund Partners

mm

About Team Superfund Partners

We needed a better way to look after our SMSF clients. So we created one. We experienced first hand the frustration of the ‘old way’ of looking after SMSFs: Financial statements that were out of date by at least 6 months and of no use to anyone other than the ATO, high fees and poor value due to highly skilled and knowledgeable staff spending unnecessary time on laborious data entry and worst of all SMSF trustees not getting the right advice at the right time!

Desired Lifestyle vs. Realistic Living in Retirement for SMSF Trustees

When planning for retirement, it’s important to understand your SMSF household needs, and outline your goals with your adviser.

The latest report on the financial health of SMSF trustees heading into retirement has found that the amount needed for a 65-year-old couple to afford a comfortable retirement has risen by 17 percent from $702,000 in the previous year to $824,000.

Unfortunately, this report has also found that one in four are unlikely to achieve their SMSF goals.

 

Realistic wealth goals for SMSF trustees

Of course, achieving your ideal lifestyle is easier if you start with more wealth. The direct link is the greater level of initial wealth, the higher chance an SMSF household will be able to live their desired lifestyle in retirement.

The last seven years has seen a rising trend of median SMSF balances, but recent weak investment markets have resulted in low returns, and only a small increase. This brings the median balance for two member SMSFs to $1,137,000 with the median imputed investment return of 1.0 percent,