Many people who want more hands-on control over their investments and their retirement are opting for a self-managed super fund (SMSF). It allows you to choose assets like property and manage your retirement savings directly.

But, establishing and maintaining an SMSF involves significant costs and ongoing compliance. Vanessa Smith, Director at the Bongiorno Group, and Michelle Harrod, Tax Manager and Head of SMSF at the Bongiorno Group, says it’s wise to create and regularly review an investment strategy that considers risk, liquidity, diversification, and insurance.

Seeking financial advice, they insist, is critical to ensure the SMSF aligns with your long-term retirement goals and complies with legal requirements.

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