NEWS – Younger Generation 31-40 yo Increasing Interest in Self-Managed Super Funds (SMSF) and Rising

NEWS – Younger Generation 31 to 40 yo Increasing Interest in Self-Managed Super Funds (SMSF) and Rising
Younger Generation 31 to 40 yo Increasing Interest in Self-Managed Super Funds (SMSF) and Rising

The interest of younger generations in self-managed superannuation funds is growing, as more young professionals start making long-term decisions about their futures. Those aged over 50 still account for the greatest number of SMSFs, but there are increasingly more 31 to 40-year-olds expressing interest in managing their own super.  The demand from this age group has grown strongly over the past three years, according to an annual survey from the SMSF Professionals Association of Australia and Russell Investments. “They are interested in the longer term and have a good understanding of the short-term issues versus the longer term opportunity,” the report says. SPAA chief executive Andrea Slattery says the 31 to 40-year-old age group has witnessed “year-on-year growth”.

“The main reason for the growth is that people are becoming more educated, more aware and more interested in making their own decision knowing it’s for the long term,” she says.

“It’s not just for the immediate six to 12 months, it about saving for when they retire and then onwards. Many professionals and small business owners are at the age where they’re starting to seek professional advice for the long term.”

But despite the growth in younger generations, the overall number of people looking to establish an SMSF in the next five years has dropped from 17.3% to 12.3%, although over the longer term the figure is 14.2%.

Slattery says this is reflective of people becoming more educated about SMSFs.

There is a real movement toward people who are genuinely interested and those who understand their needs and are making a conscious decision,” she says.

“There have still been a number of SMSFs established in the past 12 months in line with long-term trends set over the past 12 years, so this is reflecting people’s genuine intentions.”

READ MORE by Yolanda Redrup, Smart Company

Got questions? If you want caring experts who have years of helping others, without the hype – then call for a FREE strategy session today. It costs nothing to see what possibilities are available. Also get your FREE Expert Guide – Self-Managed Super and You – top right hand side above.

If you have any questions, why not give us a call – it’s FREE also! No obligation.

0407 361 596, Paul.

And book for our next  FREE Seminar – Self Managed Super Fund Roadmap  monthly – all you need to know, plus extra bonuses see HERE and our SMSF and Property Boost to Super(combined) Free Seminar every few months HERE

Advertisements

About SuperBenefitnews

Self-Managed Superannuation Service Providers in Australia. WE do not provide Financial Advice or any other service that requires a legally authorized provider. However, where such advice or service is required we have our ‘Connect Assist’, a SuperBenefit resource we use to connect clients to a Licensed Advisor or other legally authorised service provider. SuperBenefit provides a wholistic SMSF assistance, education and administration service continuum - 1. “assistance” is help of whatsoever nature where our overall SMSF experience and knowledge enables us to provide assistance/help without any legal (or “license”) limitations. 2. “education” involves providing knowledge through teaching, coaching and mentoring about all matters SMSF, including (but not limited to) investment issues such as equities and property, 3. “administration” encompasses all admin aspects of legally required SMSF trustee and member record keeping including (but not limited to) audit and ATO matters. In keeping with our key point that SuperBenefit does not provide Financial Advice, where issues arise from 1, 2, and/or 3 above Indicate a need for a legally authorized provider (such as a Financial Adviser) and the client does not have their own service provider, the client can utilize SuperBenefit’s ‘Connect Assist’ … SuperBenefit, in itself, does not provide Financial Advice, but it does provide the wherewithal for great SMSF service. Call us 0407 361 596, no obligation FREE Connection call to see how we can help you!
This entry was posted in Retirement Planning, SMSF Info, News & Stats, Superannuation General and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s