Financial Planning for your Retirement That Puts You First
If you don't plan for your retirement, you run the real risk of finding out too late that you can no longer afford to live the way you did before you retired. On the other hand, financial planning gives you control, and the opportunity to find out how to capitalise on, or improve, your financial position come retirement. Making well-considered decisions now will likely mean that you won’t need to rely on a limited age pension.
Here’s how one Pacesetter client describes the outcomes of their financial planning for retirement:
“We have plenty of time to travel, both overseas and around Australia and heaps of time to help and support our ageing parents and the local community. We have the ability to help our children and enjoy time with them. Without all of the work and effort we and Pacesetter have put into this over the past 15+ years, we would not have achieved this.”
Financial planning for your retirement provides you with the information and tools you need to continue your current lifestyle once the income you earn from working stops. To achieve this, you need a tailored strategy that is based on your specific circumstances and the retirement lifestyle you want. Your personalised solution must be built on a realistic assessment of your likely living expenses in retirement. It may involve a pre-retirement savings plan as well as a post-retirement strategy for appropriate income streams. Strategies you may consider now for later, may include regular savings, investment opportunities, borrowing to invest and/or making the most of your super.
Such planning will not only provide your essential living expenses as a retiree, but also give you more options in terms of when you retire and the type of retirement lifestyle you lead.
At Pacesetter, our logical and structured approach to retirement planning includes four stages: Consultation, Recommendation, Implementation and Review.
- During the consultation stage we gather information about your financial situation and your goals for retirement.
- We then formulate our recommendations into an overall strategy that strives to achieve your retirement goals. We explain the reasons for our recommendations and identify any implications of the advice. Where possible, we also quantify other benefits of our recommendations, whether they be tax savings, cost savings, estate benefits, or emotional considerations such as having a sense of financial confidence and peace of mind.
- With your agreement, we then implement the recommendations for you. In doing so, we keep you updated, prepare the necessary paperwork and liaise with other professionals, including your accountant and solicitor. Our goal is for your financial plan to be inclusive of all the matters that affect your financial position.
- Given that your retirement plan can be impacted by legislative, economic or changes in your personal situation, our ongoing review service keeps things on track towards achieving your financial objectives, answers any questions you may have and, importantly, provides you with ongoing clarity and peace of mind.
To find out more about the benefits of financial planning for your retirement, please contact Mal or Hayden today on (07) 3808 2808 or by emailing firstname.lastname@example.org
Pacesetter Financial Services and its advisers are Authorised Representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306 trading as Fortnum Financial Advisers.
This information (including taxation) is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Pacesetter Financial Services strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.