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When you are considering doing self-managed super fund, you need to make sure that you are getting as much information as possible about it. And, this normally includes the SMSF investment strategy. This is the only way that you can be sure to get as much information as possible to ensure that your SMSF is going to be successful. These are some things that you should know about the SMSF investment strategy.

SMSF investment strategy is a requirement

Something really important that you need to know is that you need to have aninvestment strategy for your self-managed superannuation fund. This is something that you need to have, and you need to add it every year with your audits each year.

The moment that you don’t have an investment strategy, then you have the change to fail with your SMSF and that you might be operating this investment illegally.

Investing in different aspects

The first thing that you need to have in your investment strategy is the different options that you are going to invest in. The more investing you have, the better your self-managed super fund is going to be. And, this is something that is required in your strategy document.

If you don’t have this in your strategy, you might encounter problems later on. You need to show what you are planning to invest in, and you need to show that you are considering every aspect of growing your SMSF.

Personal circumstances should be included

Another thing that you need to add to the SMSF investment strategy, is the personal circumstances of everyone involved with the self-managed superannuation fund.  It is important to give all the personal details of all the members in the strategy document.

This will include the age of the person, the full names and surnames and their addresses. Everything that is important to the SMSF. The more information you add about the personal circumstances of each member, the more complete your strategy document will be. Learn more.

It should be reviewed regularly

The last tip about your self-managed super fund is that you should review your investment strategy on a regular basis. This is important that you are adjusting your SMSF investment strategy as things are changing. Things like personal information, investment options and any other change that might have an influence on your SMSF.

It is recommended that you are reviewing your SMSF every year when it is time for doing audits. Then you will know that no matter what, your investment strategy is up to date.

When you are doing your SMSF, the one thing that you need to know is that you need to have an investment strategy and that you should include it with your audits. You can get into trouble if you don’t have your strategy included and if you have changes that you didn’t add to your SMSF. Many people forget about their self-managed super fund investment strategy, and then they need to add it before their audits can be approved, and this can cause other problems as well. For more details, visit: http://smsfselfmanagedsuperfund.com.au/smsf/

Setting up an investment vehicle like a SMSF to provide you with a regular source of income during your retirement can provide you with both a dependable source of money and peace of mind, but if you find yourself wishing you had a little extra money each month, or if you miss the structure and activity of having a job to work at, you might find yourself looking for part-time work to fatten up your bank account and keep you occupied. These days, one increasingly popular source of extra income is working for a ridesharing company like Lyft or Uber. Drivers for these services use smartphone apps and their own vehicles to provide transportation to customers. You've surely heard of these companies, and you may have used them, but is working for one of them a good way to earn extra money in your retirement? Here are a few questions to ask yourself before you decide.

Are You Qualified?

You'll need to make sure you have a valid driver's license with a clean traffic and criminal record. Whichever company you apply to will run a background check on you, so there's not much you can do if you have a disqualifying incident in your past. You'll also need to be above a certain age, usually 21, and have one or more years of driving experience, which shouldn't be an issue if you're a retiree!

Do You Have A Suitable Car?

You have to provide your own vehicle if you want to work as a rideshare driver, and most companies will insist that it be a four-door model of recent manufacture, which is fully insured and can pass a vehicle inspection by a mechanic. If you're driving an older or unreliable car, consider purchasing a used car that would meet the requirements as an investment in your new part-time career.

Is Your Phone Up-to-Date?

A new (or new-ish) smartphone will be required in order to run the ridesharing company's proprietary app, which will be your primary interface for receiving ride assignments and navigating to your destinations. You'll want to make sure you have an iPhone or Android phone that runs well and has reasonably current operating system software.

Will You Be Making Enough Money?

Do your homework and figure out how much time you'll be able to allocate to driving and whether or not you can expect to make enough money to make it worth your while. Most drivers can anticipate making around $10 to $20 per hour, but remember that you'll be paying for your own gas and vehicle maintenance as well. For some people, a more traditional side job might make more sense for their lifestyle and expectations.

Would You Enjoy It?

For some people, driving strangers around town, meeting new people, finding their way to new places, and helping out riders who might otherwise be stranded makes driving for a ridesharing company an exciting and rewarding job. If it sounds like something you'd have fun doing, don't forget to factor that in to your considerations!