Financing Retirement

30 Nov 2020

Making sure these are the best years of your life.

You’ve worked hard your whole life. Now is the time to enjoy the lifestyle you deserve. Whether you’re on the cusp of retiring or you are already retired, there are things you can do to improve your financial position.

Getting clarity on the burning questions like these can be important for a confident retirement:

  • Are my goals achievable?
  • Am I on track?
  • Will I have enough?
  • How long will it take me to reach my goals?
  • When can I retire?

What you might not know you can still do

1. Making sure your Savings will last the distance

One of the risks in retirement is outliving your savings. An Adviser can help you calculate the amount of savings you’ll likely need for funding your retirement, based on your short, medium and long-term goals.

2. Downsizing

When you reach retirement, quite commonly your home is where all your equity sits. Selling your home and downsizing is a way of freeing up cash for your retirement lifestyle.

3. Estate planning

Love it or loathe it, you aren’t getting any younger. Estate Planning involves more than just having a documented Will. It ensures your wealth and legacy are passed on to others according to your wishes and your estate is properly managed, either after your passing or if you can’t continue to manage it yourself.

4. Managing risk in the later years of life

Picking the right investment option within your superannuation or other investments is important whether you’re aged 16 or 65. Your investment strategy will influence how much money you’ll have and how you will live your life in retirement. As you get closer to or are already in retirement, you might decide to reduce your level of risk, and preserving your capital may become more important.

5. Centrelink Assistance

There’s a minefield of information out there in regards to social security payments. The most common issue we see is that people don’t understand the system or the qualifying requirements and don’t have the know-how to structure assets and income to maximise your entitlements.

Please note these are just ideas and is not financial advice. Seek specific guidance from a licensed financial planner like our friends over at Astute Brisbane Central to get started!

Let's Get Started

There’s no telling how many opportunities can come from just one little conversation – so get in touch today. We’d love to catch up and discuss how we could help you!

Call us or fill in the form below to get your property journey started today.