From our experience most people don’t take an active role in their superannuation because it is ‘out of sight, out of mind.’ We know this isn’t done intentionally and is really a consequence of our way of life.
There’s always too much to do and just not enough time to get everything done. Also superannuation is seen as complex and something that’s for the future so generally there is less urgency and importance when compared to other investments.This is quite sad because not being aware of the unbelievable benefits of time and compounding can disadvantage an investor and we all know you can’t bring back time.
We’ve found that when people take a greater interest in their investments they become more passionate and committed to their strategy. This is why for some people a self managed super fund is an ideal wealth creation tool. They have control and make decisions that are in their best interests. This isn’t to say that their investments will return a better result than retail or industry funds but there is greater satisfaction and confidence because they are taking responsibility for their future.
Operating your own fund is not suitable for everyone and you should own go down this path once you are aware of the pros and cons. Ultimately, the basis of any investment or strategy decision should be based on your objectives and what you want to achieve.