An unsettling survey result states that one out of every five SMSF trustees does not have a retirement plan in place. A majority of SMSF holders suggest that they are certainly chewing on the idea and working out something, but they do not have an elaborate plan laid out.
Retirement is a reality in waiting
It is a sorry statement for our times if most of the investors and trustees fail to realise that moving towards future, invariably and eternally, we will land one day on the path or retirement. Are we prepared to take up the trip that can become gruelling financially if adequate steps are not taken to combat it?
Women need higher Superannuation rate
If you do not save, invest, or diversify your portfolio, or if you fail to pay heed to your Super balance, you may end up where a vast majority of the Baby Boomer generation has landed. They are at least 50% short of having accumulated a decent retirement nest egg and women have fared far more miserably than men (which is understandable and reminds me that soon a regulation might be in place to allow higher rate of Superannuation for women without breaching the anti-discrimination laws).
SMSF holders desire an income stream through their SMSF
The same survey result also states that 43% SMSF holders desire a product that brings an income stream through their SMSF. 13% trustees have property leverage while 10% have equity leverage. Those endorsing the services of an accountant are three times lesser than those endorsing the services of a financial adviser. More than two-thirds of the respondents talked about not having life insurance currently.