The usual rhetorical response to this question is “how long is a piece of string?” For those of us that don’t plan for our retirement this could well be the answer. You may also be forgiven for thinking “my retirement is years away yet, why bother myself worrying about it now?” Well, whilst we can’t predict the future, we know that with some careful planning we can at least give ourselves the best opportunity of fulfilling our retirement dreams.

There were a number of proposed changes to the superannuation rules announced in the May 2016 Federal budget. Whilst these changes are still being debated in Parliament, and may therefore be modified, or potentially not passed into law at all, it is still worth contemplating some possible strategies to deal with these potential changes.

A question often asked is are Self-Managed Superannuation Funds (SMSF’s) suitable for me?

The answer to that question should revolve around whether you want a set and forget superfund plan or whether you want to have greater involvement with your investments and be more strategic in making plans for your retirement.