What is the best superfund that has the lowest fees and best returns?
No my area of expertise but i would suggest either setting up your own self manager super fund or a fund with minimal fees. First though i would suggest talking to an independent financial advisor. If you need a couple of names give me a call. 0407316648
I would NOT suggest you set up a self managed super fund like Allan has suggested, unless you have the time & experience to manage it. If you don’t, you’d have to pay someone to do it (like me as a financial adviser) and I can tell you 100% it will not be the cheapest option for you. That is unless you had multiple million dollars in there.
If you are chasing low fees, something like an industry super fund (HESTA, CBUS, HostPlus etc.) will likely be your cheapest options. Regarding performance they will all have different investment options you can choose from, that will have all performed differently at different points in time. For instance the last 5 years or so have been great for investment markets so the high growth investment options will have had amazing performance. If you were in these options during the GFC though the performance will have been terrible.
Rather than chasing low fees & high performance. You should approach this as “what do I need from my super at this stage of my life?”. If you are retired and starting to live off your super, income is likely your main priority. If you are working at still have 20+ years to retirement, growth in your investments will likely be the priority.
You should be selecting a super fund and investment option that suits you and your stage of life.
If you don’t feel you can do this on your own. Speak to a financial adviser who can assist you make an appropriate decision.
We aren’t all crooks like the Royal Commission would have you believe.
All the best.
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James has hit the nail right on the head. Any financial product has to fit your needs whether it is a home loan, insurance product or your Super.
I would suggest that you speak to a financial adviser who will have the initial discussion with you at no cost and if you don’t like their suggestions move on.
Low costs are important especially when you are in pension mode but chasing high returns will likely see you getting burned.
Best of luck
James is a genius. Listen to James.
seriously though, there is most likely too much at stake to guess the answer and you need to talk to a professional who knows their stuff. And you WILL have to pay for the advice, no different to paying a solicitor or a doctor or a mechanic or a builder......you should expect to pay for skills and expertise that you do not have. And you should be VERY wary of people who give advice away for free.......because they all have to get paid by someone, and if that someone is NOT you, then you have to ask is the advice the best advice for ME or the best advice for someone else?????