CALL US ON 08 8980 9300
You are here
What will your retirement be like?
Like many Australians, you've probably dreamed about what the next phase of your life will look like when you retire and spent hours discussing what you'll do with all your spare time once you've finished working.
But how do you make sure your dreams become a reality? Simple. You plan for it.
The choices you face in planning your retirement can be complex and confusing.
But for most people, one of the major concerns is simple: how can I make my money last? With the average retirement period soon to reach 30 years, it's a good question.
We're demanding more of our retirement these days—things like travel, education and eating out. It's a big challenge to have the income you need without running down your money too quickly.
Current stats tell us that a modest lifestyle requires $23,000 per annum for a single person or $33,000 for a couple. This would give you a better lifestyle than the Age Pension would, but it only allows for basic activities.
A comfortable lifestyle like the one many Australians see for themselves would require $42,000 per year for a single person or $58,000 for a couple. This would mean a good standard of living with a range of recreational activities.
How do you know if you're going to have enough?
Most people think the answer is good investments, but that's only part of it. To make sure you'll get to enjoy the retirement lifestyle you want, you'll also need to address issues like:
- What sort of lifestyle do I want? Travel? Hobbies? Volunteer? New business?
- When can I actually afford to retire?
- Will I need to care for parents, children or grandchildren?
- How can I get the most income?
- What are my Centrelink entitlements?
- How can I reduce my tax bill?
These are all very important questions that many Australians don't consider the answers to until it's too late.
Our financial advisers will help you explore the possibilities, avoid expensive mistakes and make the right choices so you'll get to enjoy the sort of retirement you've worked so hard for.