Promoted by Australian Solar Investments Limited
Born 1981 - 1996, Millennials just like you are coming into the pre accumulation superannuation period, and your cohort are doing things very differently to the generations before.
SMSFs as a millennial may involve a different approach on the part of your superannuation specialists, financial advisers and accountants - you have longer to prepare for your retirement, you’re likely to require their services and advice for longer, and you just have different needs to the Boomers or even Gen Xers.
It’s time that millennials are no longer dismissed as just the smashed avo generation or too young to be taken seriously yet. Your generation now make up about half of the Australian workforce and account for one in every three dollars spent - that puts you in a unique position in relation to the management of your superannuation.
Millennials and money
Your generation wants to take control and keep control of their money - your savings, spending, credit, borrowing and superannuation. You are the generation ready to become completely invested in your future financial security - you have already dealt with higher costs of housing and education and you have learned lessons from your parents generation. As many of your generation become parents (18% already are) you also want to make sound investments to protect your children’s future - financial and otherwise.
According to Alpha Beta Strategy Economics:
- Millennials are moving away from credit cards
- Millennials are delaying (or avoiding altogether) home ownership
Millennials will spend on private health insurance over alcohol
Millennials are 30% more likely than their parents to save regularly
80% of millennials budget (versus two-thirds of older generations)
Almost 1 in 3 millennials use online tools to track their spending
Millennials and SMSFs
You are the generation that has control over the superannuation unlike any generation - you can choose which fund you are part of, you can choose to self-manage - and who your alumni are. Millennials, according to the ATO, account for the highest proportion of uptakes of SMSFs. Your generation are actively seeking long term support to manage your superannuation funds and therefore a great opportunity for those in the industry prepared to get up to speed on your wants and work with you.
What do SMSFs look like for millennials
You want long term stability (you are really far away from retirement), you want solid yields (you are often delaying investment in bricks and mortar so you want to know it’s strong), you want advice without being dictated to, you want to get involved in investments that are sustainable, green, with a social conscience, you want to have diversification (you have lived through seeing you parents have their superannuation tank during the GFC).
Australian Solar Investments can offer millennial SMSF trustees an opportunity to get involved in a ground floor small scale renewable energy investment with strong yields, a chance to diversify assets classes, all while moving into the renewable energy industry.
More information: You can get more information about our renewable energy investment opportunities at https://austsolarinvestments.com.au/invest/
Warren Murphy, Chairman
Warren is a senior executive with over 20 years of experience in the energy and finance sectors. He has been a member of numerous investment committees and audit and compliance committees for public companies and for funds. He led the team that created Australia’s largest renewable energy company, Infigen Energy (and its unlisted predecessor, Global Wind Partners) where he served as a director for over seven years. He has also served on a number of public company boards, both listed and unlisted, including Coogee Resources Limited and Sydney Gas Limited. He is currently a director of Carbonxt Group Ltd.
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