Its time to review your current superannuation requirements. More and more people are moving into Self Managed Super Funds, allowing investors to borrow to buy property. In general terms this works where your superannuation contributions and the rent generated by the investment property will repay your borrowing. Several mainstream banks will lend up to 80% for investment property purchases. This is a tax effective strategy for those who like to invest in property. If you don’t want to go this way that is OK too, but make sure you are looking at your current super returns and talking to a financial planner or your accountant to ensure you are in the best fund. The years fly and before you know it you are thinking about retirement – now is the time to start.
Review your current superannuation needs