Retirement planning
The main aim of retirement planning is to look into ways to maximise your income in retirement. This can be done through 3 main stages:
- Far from Retirement (10+ years till retirement)- Approaching Retirement (Within 10 years till retirement)- Having already Retired
Far from RetirementWhen you're in your thirties or forties, retirement may not seem important. You can spend your money on a variety of other activities, such as travelling abroad, purchasing a home, starting a family, or simply having fun.
However, a study by the Australian National University (ANU) indicates that the Age Pension won't be nearly enough to support the way of life we want once we stop working. Therefore, it is better to start planning right away.
Areas we can assist in:
- Examine your financial condition in detail.- Suggest tactics to achieve your desired retirement lifestyle.- Together, we will create a new budget and investment strategy to help you reach your short- and long-term objectives.- Make sure you can still accomplish both your short-term and long-term goals if something were to happen to you.- Assisting you to draught or revise your will
Approaching RetirementMany Australians will live in retirement for more than a quarter of their lives due to the combined effects of early retirement and greater life expectancy. This may sound like excellent news, but it just serves to highlight how crucial it is to plan your retirement wisely and well in advance.
Areas we can assist in:
- Based on your plans, determine how much you require and when you may retire- Make a plan to save enough money for retirement within your time limit- So that you can manage your money in retirement, review and suggest retirement income options- Aim to receive the most from any social security payments to which you may be entitled- Make sure your insurance is adequate- Assisting you to draught or revise your will
Having already retiredHave you reached retirement age but still don't feel ready to completely leave your job? The government offers incentives for working people to put off claiming the Age Pension if they are eligible. However, if you paid for your retirement on your own, you may profit from monitoring or reorganising your finances to make the most of any government benefits.
Areas we can assist in:
- Keep an eye on your retirement income and investments- Offer frequent information on any social security changes that might have an impact on you
Disclaimer:General information can be found on this website. It does not consider the goals, resources, or requirements of any specific person. Before making any choices based on this information, you must take into account your needs and financial condition.