If the attendance at our Retirement Planning events serves as a gauge, then you may be looking for guidance around making the transition from earning a regular wage or salary to finding alternate income streams, post-employment. Here’s a recap of three key considerations for your retirement planning.
1. Creating and maintaining cashflow
We can present you with a range of options designed to create a regular and reliable income after your wage or salary ceases. In addition to clarifying your Centrelink entitlements, we can also explore other opportunities like combining another income stream to supplement those payments.
2. Asset protection
We are well placed to assist you to review a range of options to safeguard your retirement capital, including inbuilt investment protections designed to assist you to reach your goals with more security. Importantly, these approaches are tailored to your specific investment style and the level of risk and return you personally feel comfortable managing.
3. Inbuilt flexibility
Your retirement planning should incorporate measures to help you cope in changing circumstances. The ages between 65 years and 75 years are sometimes referred to as a “peak spending” period when you and/or your partner may be enjoying your new-found freedom to travel and indulge in life’s luxuries. As well as accommodating these expenses, your retirement plan should incorporate a degree of flexibility for changing circumstances like sudden or unexpected illness or injury.
Making provisions today for the costs of aged care for either yourself or your partner or both of you, could help alleviate financial and emotional distress tomorrow.
If you would like to discuss your retirement planning please contact us on (02) 6041 8244.