In the 2019/2020 financial year the top performing industry superannuation fund made their members a return of 3.9%, with an overall average of 8.6% return over seven years.
While this may seem like great returns to some, there are other options available to you offering much higher yearly returns on your superannuation.
Your retirement fund is not something that should be taken lightly, and it is very important, especially after the year that has been in 2020, that you look into what options are available to you in order to grow your retirement fund as quickly as possible.
In 2014, the Australian Taxation Office (ATO) issued two taxation determinations clarifying that Bitcoin and cryptocurrencies like Bitcoin are not money but are capital gains tax (CGT) assets. This new development now legally allows for Self Managed Super Funds (SMSF) to invest and transact in cryptocurrencies.
To retire above the poverty line, financial advisors recommend you have at least $1.4 million in your superannuation account by the time you reach 65 years of age.
What did your superannuation investments achieve for you last year?
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