Planning for your retirement
If you are like many Australian’s you may wonder ‘How much Super do I need to retire?’ As life expectancies continue to rise, we all need to ensure we have enough in our Superannuation to live comfortably when we retire.
How to transition to retirement when you stop work
Whether you choose to gradually or take the plunge into full-time retirement, one of the key challenges faced by many new retirees is the need to fill each day productively. This emphasises the need to be mentally prepared for retirement, as it might not be as easy as you think.
Rather than exit the workforce overnight, a transition to retirement pension (TTR) strategy provides you with the ability to receive an income stream from your super without having to give up work entirely. This means you can reduce your working hours while having the same take home pay. Contact our expert team who can take you through the process of transitioning slowly from work to retirement and develop a TTR strategy to suit you.
Developing a savings plan for retirement
There’s no magic number when it comes to retirement. To determine how much to save, it’s important to understand the type of retirement lifestyle you hope to enjoy. That will help you to determine how much annual income you might need to fund your future.
Creating a retirement savings plan can also help you understand what your desired retirement income might look like. Not only will this plan show how much you’ll need to save, it can also help you understand costs you may need to scale back to achieve your goals.
There are a number of strategies you can consider as part of your savings plan.
Choose the right investment strategy
Apart from the strategies outlined above, there are a number of questions you need to ask yourself before making any decision on the strategy that is right for you and your family.
These are all extremely important questions to answer before you make your investment strategy decision.
There are many options when it comes to planning for your retirement and making the most of your retirement savings through Superannuation. WealthSmart’s team of trusted advisors are here to help you make the right decisions that will set you up for the retirement you need. Call us today on 1800 765 100 or visit our website for more information.
General advice warning. This advice does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. Should you require any help please contact Wealth Smart on 1800 765 100.