We are fortunate to have author Darren Kingdon guide us through this complex maze of regulation in his book Master your Super and drive you SMSF to big profits.
Albert Einstein said:
The hardest thing to understand in the world is income tax.
If he were here today, I think he would say:
The hardest thing to understand is superannuation.
Darren Kingdon has over 25 years’ experience in the industry, and this is his third book about superannuation. He has also been a trusted commentator for over 10 years.
As an SMSF trustee myself, I was delighted to finally find a book published in simple plain English. Even those whose financial literacy skills may be challenged will comprehend what needs to be done after reading this book.
This book fills an enormous gap in the current literature and is a must-read for anyone with an SMSF or contemplating this option. The tagline says Guide your SMSF to Big Profits and he delivers when it comes to investment strategies.
While you can purchase a digital copy of the book, I would recommend you buy a hard copy and keep it close by. This is a book you should be able to pick up and quickly refer to when you are making any decisions about your superannuation.
The complexity of superannuation regulation will require any trustee to engage SMSF specialists to guide them. However, each trustee is personally responsible for any transactions made in the fund. This book will equip you to have a particularly good understanding of what you can do, but more importantly, should you do it? Just because something may be technically possible, it may not be in your best interests.
As Darren says:
Your financial freedom starts with mastering your super.
One of the things I loved about the book was the famous quotes by famous people. My favorites are those from Warren Buffet. If every investor followed his simple rules, they would have a good road map to start their financial journey.
I found these quotes distilled the complex to the simple. Something which is not easy when it comes to superannuation.
The layout of the book lets you clearly understand the implications of your actions by giving you tips, warnings, case studies and lessons along the way.
As a long-term self-directed investor in both equities and property, I found the advice regarding “good investment practices” in both areas to be excellent. Many important issues which are often overlooked by those trying to convince you to have an SMSF are explained in detail.
This is important, because some reading this book, may realize there are better alternatives to either starting an SMSF or keeping their SMSF.
Not only does Darren give his personal investment advice, but he also gives you several alternative investment strategies which have been developed in the past by world-recognized experts. If you followed any one of these methods of asset allocation, I do not think you would get into too much trouble. It is just a matter of deciding your personal level of investment expertise and your personal risk tolerance.
The reference material is fantastic, and I found myself jotting down notes of where I can find current trends in superannuation. – I am not giving away these secrets as you need to read this book and find them for yourself.
This is a book I found thoroughly engaging and a pleasure to read. I have had an SMSF fund for nearly 40-years and still, I found new things I want to follow up on.
If you are either an SMSF trustee or you are thinking of starting an SMSF, I would strongly recommend you purchase this book.
The time invested in this book could save you thousands of dollars.
Thank you, Darren Kingdon, for providing all trustees the information to master their super and drive their SMSF to big profits.
Glenis Phillips SF FIN – Good Financial Reads