retirement planning

Whether you are now retired, retirement is approaching, or it’s a long way away, retirement planning is crucial for all Australians.  We aim to give you full confidence in your own financial situation now and in the future.

Government superannuation legislation changes are provoking you to consider your retirement more carefully and if you are not receiving advice from a professional, then you will be missing out on opportunities.  Retirement planning is essentially maximising your superannuation and investments to ensure you have an adequate income in your retirement years, and then to make sure your assets are passed on to the right people in the event of your death.

Planning your retirement should be as important as planning your working career, especially if you have children who, although generally are independent, might still need assistance from time to time. People are living longer and whilst you might have only expected to live few years after retiring in the past, now retirement is only the beginning.

Some things you will need to consider are:

  • What age you are planning to retire?
  • Do I know how much money I need to live a comfortable retirement?
  • Will you have any outstanding debts?
  • Do you want to consider working in some capacity? (Casual or part time)
  • When can I access my super?
  • Can you gain access to the Government Aged Pension?
  • What is the best way to invest your money in retirement?
  • What are my options when I retire?
  • Will I pay tax on my super if I take a lump sum?
  • What are the different types of income streams I can access in retirement?
  • What activities in your retirement years do you want to pursue (e.g. travel, hobbies) and how much will these cost?
  • Will you have any large expenses in retirement (e.g. holidays, new car, home renovations, and unexpected expenses) and how much will these cost?

It is critical that you are aware of the amount needed to fund your retirement lifestyle and if you don’t have enough money, what changes can you make to achieve your goal. If you are still in the situation where you are accumulating wealth, and retirement seems quite a few years away, you can still make sensible decisions about whether you need to put more money into superannuation, or simply just make sure you are in the right fund to maximise your earnings.

Have you heard of?

  • Allocated Pensions – An allocated pension is an investment made with superannuation money which pays an income stream. The pension continues until the death of the pensioner or until the account balance is exhausted.
  • Transition to Retirement pensions (TTR’s) – A Transition to Retirement Pension is an investment made with superannuation money. Essentially, it is an allocated pension that does not permit cash withdrawals, but allows access to super money in the form of an income stream.  These are considered whilst easing out of full time work.
  • Aged Care Costs and Benefits – When a person enters aged care, they are required to pay fees to the aged care facility. The fees vary depending on the person’s circumstances and the type of aged care facility they enter.
  • Careful Wills and Estate Planning – When you pass away, have you got a legal plan in place to transfer on your assets and liabilities to the right people.  Not having a plan can be very costly to your loved ones.

We can assist your education in these areas but most importantly, help you live the retirement lifestyle that you want, not just the one you can afford.  Contact us for a 1 hour obligation and cost free consultation.

Based in the north Brisbane suburb of North Lakes, we service clients from Griffin, Strathpine, Petrie, Kallangur, Mango Hill, North Lakes, Deception Bay, Burpengary, Narangba, all the way to Sydney, Melbourne and beyond.  We come to you or you can meet us at our office.