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Retirement Planning

The biggest question asked when planning for retirement is, "How much will I need?" 

To be accurate in assessing your retirement needs you should work out an actual budget.  Most people find this quite daunting, so a reasonable guide is approximately 60-70% of your pre-retirement income.

In order to achieve this, the final years leading up to retirement are critical in the accumulation, structuring and protection of your financial and lifestyle assets.

Consultation with a trained professional is essential to make sure you are invested in the right areas, with an appropriate level of risk and through the right structures to maximise your asset base on reaching retirement and then to maximise any Centrelink eligibility where applicable.

Are you aware that the Government has flagged that from 2023 the Age Pension age is set to increase to 67 years of age?  The gradual increase in Age Pension age will commence on 1 July 2017 meaning that if you were born after 1 July 1952 you will be affected by these changes.

There are however superannuation strategies you can implement now to increase your retirement income and minimise tax.  It is imperative that you seek our professional advice to ensure the right strategies are used to achieve the lifestyle you require. 

We are happy to discuss some of the strategies we can assist you with, such as:

  • Government Co-contribution
  • Splitting super contributions with your spouse
  • Transition to Retirement Pensions (ie. allowing you to access part of your super pre-retirement)
  • Salary sacrificing into your super fund (ie. making before tax contributions)
  • Making non-deductible contributions into your super fund

One of the main benefits of investing in superannuation rather than investing your money elsewhere is the tax benefits that you can gain.

Make sure your retirement is how you would like it to be and speak to us today.