RaboDirect Self Managed Super Savings Account DIY

If you’re in the throes of your working life you may not have thought a lot about superannuation, especially if you have an employer managed super fund and you don’t have to give a second thought to contributions, investments and fees. However, your super is probably the most important savings account you’ll ever have because it’s going to fund your retirement – your reward and indulgence for all those years of work. This is why no matter what stage you are at in your working life, you should consider the options which are open to you through a self managed super fund.

If retirement is approaching you in the next few years, you may think that it’s too late to take advantage of the benefits of a self managed super fund, or perhaps you think you’re too busy to take on such responsibility, or you don’t have the financial knowledge or experience. That is why RaboDirect has created self managed super fund services to give you back control over your future and your retirement, while helping you simply and easily secure the best return on your superannuation investments. Compare this product with other RaboDirect products.

Should You Consider a Self Managed Super Fund?

You do have to have a little financial savvy to manage your own super fund, but after all, you’re here, doing your research on self managed super funds so you’re already more aware and proactive about your financial future than most. So, a self managed super fund might be right for you if:

* You want to be in control of the investments your fund pursues on your behalf, and have a choice of flexible term deposits, managed funds and investment strategy options.
* You want to make contributions to your retirement in addition to your employer contributions.
* You are close to retirement or have retired and want to be able to manage the account and tailor the investments and payments to your changing needs.
* You want to avoid the fees charged on managed super funds – keeping in mind there will be fees to your accountant and financial advisor to ensure your fund complies with regulation.

How to Setup a Self Managed Super Fund with RaboDirect

A self managed super fund cannot be set up by individuals and is not a venture which should be considered without advice from your accountant and financial advisor. You will also need the assistance of your accountant or financial advisor to help facilitate the set up of a self managed super fund. While you can open a RaboDirect DIY Super Savings account, preparations to be completed first include:

* Your accountant will need to register your super fund and obtain an ABN.
* Trustees will need to be appointed, and each trustee can be a member of the super fund – i.e. you can be the trustee of your own super fund.
* A self managed super fund must have four or less members.
* You and the other trustees cannot receive any remuneration for your role as trustees of the super fund.
* Beneficiaries for the super fund must be established and documented.
* You will need to open a RaboDirect savings account to link to your RaboDirect DIY Super.
* You will need to provide the ABN, your Tax File Number, signatory details and verification of identities and bank accounts when applying for your RaboDirect DIY Super account online.

Benefits of a RaboDirect DIY Super Savings Account

RaboDirect realises that the primary reason for most people to set up their own super fund is to gain control over their future and their investments. That is why when you open a RaboDirect DIY Super savings account you can maintain that flexibility and choice at every stage:

* RaboDirect have a detailed and transparen’t selection criteria for each managed fund offered.
* There is also a wide variety of managed funds and investment options to choose from with RaboDirect Super.
* You are able to pick parcels online which can help you manage your Capital Gains Tax obligations.
* With one single account linked to your RaboDirect DIY Super account, you can use this account for everyday transactions or business use, while keeping transactions and usage clear for your accountant.
* Your DIY Super account gives you online access to RaboDirect services, such as the ability to set up term deposits online, simply by logging into internet banking.
* You can access your RaboDirect super account online at anytime, and you have access 24 hours a day, seven days a week to your transaction history and statements. You can also easily download statements at the end of the financial year for your records, or for your accountant.

As much as your managed fund will promote their individual service and their customer focused strategies, no one is going to be more focussed on a reliable and sizable super fund for your retirement than you. Therefore, if you want to and can be involved in the investments and strategies to prepare your finances for your golden years, apply online now for a self managed RaboDirect DIY Super savings account.