Do you run out of money before you run out of month? Many do, but it doesn’t have to be that way! Wealth is the result of widening the gap between what you earn and what you spend. Most of us make the mistake of ramping up our spending as our disposable incomes rise. This is self-defeating. If you do not develop a respect for money, it will always elude you.
Retirement planning is the most important aspect of wealth management, as individuals close in on retiring. Preparing mum and dad for their retirement will require sitting down with them and going through the motions. Look at identifying their needs and making sure that they have a source of income, post retirement.
Ensuring that your retirement planning money is working for you is important at every stage of life. It becomes crucial when you retire, as you need that money to support you through retirement. That is why it is important to invest your money wisely.
Retirement planning can assist you to plan and manage your financial situation for your retirement, so you can maintain a regular income, enjoy life and retire with confidence.
Important questions when it comes to retirement planning;
- How soon would you like to retire?
- What do you plan to do with your time when you retire?
- How much super do you have?
- How many years of retirement do you need to plan for?
- Are you thinking of working part-time?
- Will you be making any big purchases like a house, car or holiday?
- Will you access the age pension or other Centrelink benefits?
A sound retirement plan can help you;
- Prepare for your retirement.
- Utilise tax effective strategies to transfer your wealth.
- Plan your estate so your loved ones are taken care of.
- With the right investment strategy, products such as allocated pensions and annuities can make your money work for you.
- Provide certainty that your monies will not run out when you need it most.
- Cover any shortfalls or emergencies prior to moving on in life.
We spend so much time worrying about the fact of earning income, taking risks and hoping they will be paid off, but forget about what are we going to do then. Just letting things fall into place and not planning ahead can be disastrous, especially when we have sacrificed decades of our lives to build up what we have today, everything.
Family and your involvement with the kids in relation to your retirement planning is one of the most re-uniting events to occur as this is when assets and transferred on.
Simply discuss with one of our Expert Retirement Planning Advisers about your needs and goals so we can quickly and easily provide the best Financial Advice in the market place today.
Get calling on 1300 850 902 today to discuss your Retirement Planning or simply leave your details below.
SMSF Advice For the Professional!
One can only do their research and or be referred by someone they trust in order to get quality Financial Advice these days. As widespread Australians cannot rely on their Pension funds for Retirement. The government’s proposal to increase employer contributions from 9.25% to 12%, still will not provide enough for the average family , to be able to retire on.