The Guru’s Guide to Self-Managed Super
Author: Grant Abbott
With the ever increasing complexities of Self-Managed Superannuation, having an easy to read reference book in your library of financial education books is a sound practice.
In the forward of the book the author, Grant Abbott, makes the point that education is an ongoing journey for both the SMSF Trustee and for the financial professional. He invites you to continue this journey on his website I Love SMSF.
What I liked about The Guru’s Guide to Self-Managed Super Funds, is the way in which such a complex topic has been explained in a well-organised format with easy to read explanations. If you are looking for a specific area of interest, you almost certainly will find the topic in the very comprehensive table of contents.
This book is an excellent resource
Grant Abbott is a leading consultant in the area of SMSF. He has written five books, conducted more than 1,500 presentations and taught more than 1,000 accountants, financial planners, lawyers and mortgage brokers to become specialists SMSF advisers. He has also presented to over 100,000 SMSF Trustees. So no matter whether you are an SMSF Adviser or an SMSF Trustee, this book will be of great value.
As a Trustee of your Self-Managed Super Fund, you are responsible for all decisions made for your SMSF. While seeking professional advice is common sense, you also have a trustee obligation to have a detailed working knowledge of superannuation. You must ensure your SMSF is always compliant.
As an SMSF adviser, your expertise should already be of a very high standard. However, education is always an ongoing process and sometimes having a quick review of a new book is a good way to stop and reflect if there may be areas of advice you could utilise with your clients.
Having a book like this on your desk, makes it very easy for you to quickly explain something to your client.
The skill in managing an SMSF is to see into the future. For those of you who are young, you need to plan for the next 50-years. By taking action now you can ensure that your SMSF is going to provide you with the funds you require in your retirement.
Don’t forget that you are likely to live another 30-years after retirement. That is a very long time to live without regular full-time work. Think of properly managing the investments in your self-managed super fund as preparation to be your employer who will pay you an income every month till the end of your life.
Imagine life with no financial stress.
I would recommend this book as good place to start.
If you want to know more about how to manage an SMSF account, please watch these videos.
Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.