Retirement Planning

Australians are living longer than ever before. This is great, but also presents some challenges. It’s essential to have the right strategy in place to be able to adjust to the changes to your lifestyle along the way.

What does retirement mean? Traditionally, retirement meant the end of your working activity. For most of you, what retirement really means is freedom with your time and doing things on your terms.  

Once you are no longer working (or working less), you will need an ongoing passive income so that you can maintain your lifestyle in retirement. We take the time to understand what your goals are in the next phase of your life, so we can help you organise your assets to achieve them. To get started, you should ensure that you are clear about what you need for the following:

  1. Basic living expenses
  2. Discretionary lifestyle expenses
  3. Cash reserves
  4. Legacy and intergenerational wealth transfer

 

Almost half (49%) of retirees don’t feel confident about their financial security over the next five years.

 

But it doesn’t have to be that way. With the strategies and actions, you can feel confident and secure about your financial security in retirement. It is as simple as having the right amount of money available for you at the right time.

To ensure your cashflow in retirement is seamless, we set up the different sources of retirement income to manage risks and so your money lasts as long as you do. Common strategies include:

  • Account based pensions
  • Annuities
  • Portfolio construction for income
  • Investment draw down plans
  • Centrelink benefits
  • Aged care 
  • Gifting of assets
  • Estate planning

The next step is to work out whether you are on track and if not what actions can you take to make it a reality.  

If you would like some help to figure it all out, the first step is to book a 15 min chat here. From there we can work out what is the best next step for you and your retirement plan.