It is estimated that about 60,000 Australians start self-managed superannuation funds (SMSF). This means that over a million adults in Australia have SMSF. This means millions more are still wondering whether they should establish one or not. It’s not just about establishing an SMSF that will secure your retirement, what can you do once you have one? How can you maximise your investment returns? Self-managed superannuation funds are complex and they have a lot of regulations you don’t want to get wrong. Many investment savvy fund members have asked what the best way to diversify and protect their investment would be and gold would be one investment asset worth considering. Investing in gold bullion will give you the security, diversification, and wealth protection you need but there are a couple of steps you need to go through when you buy SMSF gold bullion.
Get help by contacting an SMSF specialist. Certain gold dealers offer SMSF advisory services
When you have made your choice transfer your money
Write down your investment strategy. This is a legal requirement and you should include investments in precious metals as some of the investments you intend to make.
– Select a bullion dealer and purchase the gold you want
– Arrange proper storage as well as insurance
– Comply with the rules by lodging your SMSF return when it becomes due every year
There are a lot of different ways that you can invest in gold through your Superannuation Fund. Purchasing physical gold is less complex than other methods that may include Exchange Traded Funds or Gold Shares or Managed Funds.
Physical Gold
You can buy gold bullion from many bullion dealers in Australia. A lot of them offer secure storage so you don’t have to keep your bullion at home where anything could happen to it. According to the rules, you may not store your gold bullion in your home but a bank safety deposit box will work just as well.
How to buy SMSF gold bullion?
National mints – these are largely responsible for silver coinage that is still in circulation in some countries, but they also sell their own unique bullion coins like the Australian Kangaroo or the United States of America’s American Eagle, and the Canadian Maple leaf amongst others.
Bullion retailers – there are many bullion dealers in Australia and across the globe. Some even have an online presence that allows you to transact from the comfort of your home.
Coin Dealers – Coin Dealers have been known to buy and sell gold bullion on occasion. Look around, go online and you will be sure to find bullion in various types of form. However most will sell collectable coins and SMSF are not allowed to invest in collectable coins.
Who do you choose?
With so many gold dealers in Australia, choosing a good dealer might be tricky. You need to keep a few factors in mind. First of all, you should know the type or form of bullion to invest in. Whether it be Silver or Gold and to avoid numismatic coins.
Different rules apply for gold bullion coins and numismatic gold coins. Make sure you learn about these rules and how they apply to your own particular situation. Choose what will work best for you and give you the best returns.
