Retirement
SMSF trustees more confident in savings than private investors
Self-managed super fund trustees are more confident their retirement savings will give them a comfortable life after they leave the workforce than private investors, according to a survey conducted by Nest Egg.
SMSF trustees more confident in savings than private investors
Self-managed super fund trustees are more confident their retirement savings will give them a comfortable life after they leave the workforce than private investors, according to a survey conducted by Nest Egg.
The Retirement Sentiment Survey found that 51.79 per cent of SMSF trustees expect their savings will be enough for a comfortable retirement, with 26.78 per cent believing their savings would only provide a modest or basic standard of living.
Among private investors, only 30.65 believed their savings would be enough to retire comfortably, with 51.62 expecting either a modest or basic lifestyle.
The percentage of each group that expected their savings would not be enough to live off was roughly equal, with 17.86 per cent of SMSF trustees and 17.74 per cent of private investors expecting this would be the case.
Interestingly, there were also differences between these two groups in terms of the assets they favoured, the survey found.
More than a third (36.73 per cent) of SMSF trustees expect Australian shares will provide the best returns over the next five years, with international shares and residential property proving the second and third most popular choices respectively, with 28.57 per cent and 14.29 per cent each.
The same three asset classes were tapped by private investors to deliver the best returns, however among this group residential property proved the most popular, accounting for 34.43 per cent of the respondents’ votes.
International shares proved the second most popular with 22.95 per cent of the private investor vote, followed by Australian shares at 18.03 per cent.
The survey also found that SMSF trustees were less likely to seek financial advice from their friends and families than private investors were, with only 10.75 per cent saying they ask those close to them for advice, compared with 37.5 per cent of private investors.
RELATED ARTICLES
Self managed super fund
Superannuation guarantee to be paid on government paid parental leave, says ASFA
The Association of Superannuation Funds of Australia (ASFA) has hailed the government's decision to include Superannuation Guarantee payments with its Paid Parental Leave policy as a critical step ...Read more
Self managed super fund
SMSF experts advise against hasty reactions to potential super tax changes
As the Australian Government proposes a new tax measure on superannuation earnings for balances exceeding $3 million, experts from the self-managed super funds (SMSF) sector are urging members not to ...Read more
Self managed super fund
Federal government announces changes to superannuation contribution caps
The Federal Government has announced changes to the superannuation contribution caps, impacting self-managed super funds (SMSFs) and their members from 1 July 2024. Read more
Self managed super fund
SMSF Association calls for joint effort to tackle early super access
The SMSF Association is calling on a collaborative approach including the Government, the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC), and the ...Read more
Self managed super fund
Rest Super members file class action over alleged insurance premium deductions
Shine Lawyers has initiated a class action lawsuit against Rest Superannuation (Rest), alleging the unlawful deduction of income protection insurance premiums from members' superannuation accounts. Read more
Self managed super fund
Debunking a superannuation tax myth: SMSF Association clarifies the impact on Aussie farms
In the ongoing debate about a proposed new tax targeting superannuation funds exceeding $3 million, the SMSF Association has stepped in to challenge claims from the Association of Superannuation Funds ...Read more
Self managed super fund
Is an SMSF right for you?
When it comes to planning for retirement, one of the most significant decisions Australians have to make is how to manage their superannuation. Read more
Self managed super fund
SMSF growth continues after pandemic peak
The statistics have begun to change coming out of the COVID-19 pandemic, according to new findings from Australian Investment Exchange Limited (AUSIEX). Read more
Self managed super fund
Superannuation guarantee to be paid on government paid parental leave, says ASFA
The Association of Superannuation Funds of Australia (ASFA) has hailed the government's decision to include Superannuation Guarantee payments with its Paid Parental Leave policy as a critical step ...Read more
Self managed super fund
SMSF experts advise against hasty reactions to potential super tax changes
As the Australian Government proposes a new tax measure on superannuation earnings for balances exceeding $3 million, experts from the self-managed super funds (SMSF) sector are urging members not to ...Read more
Self managed super fund
Federal government announces changes to superannuation contribution caps
The Federal Government has announced changes to the superannuation contribution caps, impacting self-managed super funds (SMSFs) and their members from 1 July 2024. Read more
Self managed super fund
SMSF Association calls for joint effort to tackle early super access
The SMSF Association is calling on a collaborative approach including the Government, the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC), and the ...Read more
Self managed super fund
Rest Super members file class action over alleged insurance premium deductions
Shine Lawyers has initiated a class action lawsuit against Rest Superannuation (Rest), alleging the unlawful deduction of income protection insurance premiums from members' superannuation accounts. Read more
Self managed super fund
Debunking a superannuation tax myth: SMSF Association clarifies the impact on Aussie farms
In the ongoing debate about a proposed new tax targeting superannuation funds exceeding $3 million, the SMSF Association has stepped in to challenge claims from the Association of Superannuation Funds ...Read more
Self managed super fund
Is an SMSF right for you?
When it comes to planning for retirement, one of the most significant decisions Australians have to make is how to manage their superannuation. Read more
Self managed super fund
SMSF growth continues after pandemic peak
The statistics have begun to change coming out of the COVID-19 pandemic, according to new findings from Australian Investment Exchange Limited (AUSIEX). Read more
