Retirement Plans

Imagine one day, not waking to the sound of your alarm clock and you can choose exactly where the day takes you, while still having a regular income. With careful planning for your retirement, this can be your reality.

  • Superannuation (how much superannuation will you have when you retire and at what age can you access your superannuation);
  • Aged Pension (what entitlement you might have to the aged pension);
  • Investments outside of Super (what is the value of these investments when you retire);
  • Selling your home (what is the value of your property assets);
  • Continuing to work casually or part time.

These and many more questions need to be answered if you are planning to retire with the lifestyle you desire.

The retirement planning process begins with you and you are never too young to start planning for your retirement. You need to assess what your financial position will look like when you retire and what your source of income will be, for instance:
Then you need to ask yourself these questions:

  • What type of lifestyle do you want or need for your retirement and how might your needs change when you retire and during retirement? For instance, where will you live, will you sell your family home and downsize or rent? Will you want to make any improvements to your home?
  • Will you continue to work or enjoy a hobby or maybe travel?
  • How much life insurance do you expect to need?
  • How much health insurance will you need? What about long-term care if you are ill?
  • How much money do you need to retire?
  • Where will this money come from and how will you make it last throughout your retirement?

We can help you work through all these questions to create a retirement plan tailored to you. Even if you are a very young person, your retirement plan should be a serious priority. By starting early, you can grow quite a large nest egg and might just be able to retire early. A lot of people feel they have plenty of time to worry about retirement planning, however, life has a habit of sneaking up on you!

Once your plan is in place, it is important to actively monitor your investments and review this plan regularly to make sure as you progress through the stages of life it is still working towards your retirement goals.

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