This is the stage of your life you have long been waiting for. You have worked hard for many years and you have now reached a stage in your life that should be fulfilling and enjoyable and about enjoying the wealth and hard earned assets you have accumulated over the years. Lifestyle and accomplishing those long term goals and desires are now high on your list of priorities.

However for some, this can be a stressful time especially if you have not financially prepared for it, or your retirement circumstances have changed, or if things haven’t worked out as you had initially thought they would.

That is why having a financial plan and reviewing this is still imperative at this stage of your financial life irrespective of whether you are financially able to meet your retirement goals or not.

Retirement can be a very long stage in your life (for some it makes up a third of their lives!) so it is important to understand where you stand, how you are going to fund your retirement, what can be done to better your retirement and what options are available to you.

So what can you do and what should you be thinking about at this stage in your financial life and how can we help you achieve your financial goals?

  • What sort of income stream will my asset base provide and how will I fund my retirement? At this stage of life you are likely to no longer have a wage so your income stream is either going to be from the assets you have accumulated, centrelink and the age pension or a combination of both. Knowing how to structure these correctly can assist with maximising any income stream in retirement and with it your disposable income
  • Drawing on Superannuation and Maximising Benefits – You are likely now able to draw on your super. So how do you do this, what are your options and how do you maximise your superannuation benefits? Super can provide some extremely tax effective outcomes if structured correctly which will ultimately lead to more disposable income for you in retirement
  • Re-balancing your investments in line with your risk profile and goals – You have likely been accumulating assets over the years. Financial markets and all asset classes can have both highs and lows and some investments are riskier than others. Is your investments and their associated risks suited to your stage in life? Do you understand what these risks can mean for your retirement and is this something you are prepared to weather?
  • Revising your estate plan – Do your wills, power of attorneys and succession plan still offer the most effective outcome for you and achieve your wishes? This is important now more than ever!
  • Reviewing your life and income protection insurances – The need for life insurances now is likely a lot less and the premiums have likely got very expensive as you have gotten older. Now is the time to review these to see if they are still necessary or suited to your personal circumstances
  • Budgeting and managing cash flow so that you can make the most out of your income stream and improve your retirement disposable income and get the most out of your retirement
  • Managing/structuring your debt in the most effective and cost efficient way
  • Managing/structuring your investments and earnings in the most tax effective way
  • If you are looking to finance any assets such as a car or home – ensuring you structure this in the best way and get the best rates on offer

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