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What age can you retire? What amount of super and assets will you need? Will you be fully self funded or part funded? How much of the pension will you be entitled? What will you need to do to bridge the gap? What’s the best way to ensure you are debt free? What lifestyle goals do you have for retirement? Retirement planning can be hard. Our Advisers will work you to provide the information, clarity and a create a practical plan that you’ll need to achieve outcomes you want.
Retirement needs to be much more than just looking at your superannuation. Not only will our advisers will work with you to boost your super but we will also explore ways to pay down debt faster, improve cash flow, build assets and grow your personal wealth.
Below are some examples of what Modest & Comfortable lifestyles cost assuming that the retirees own their own home outright and are relatively healthy.
|MODEST LIFESTYLE||COMFORTABLE LIFESTYLE|
Passive income is essential in retirement. In addition, income sources can be combined so your money lasts longer and you have a more comfortable retirement. It’s worth remembering however one income source can have an impact on another. Everyone’s circumstances are different and as such its essential to get tailored financial advice to ensure you are maximising your retirement income. Future Assist can help by presenting options and create a strategy to generate and manage income streams for your retirement.
Our advice team will help you to maximise eligible entitlements and government incentives (including tax incentives) to help you grow your retirement nest egg faster.
The way your assets and investments are structured can make a big difference to the end result. Our advisers will work with you identify the most beneficial ownership entities and finance structures to maximise your income, minimise your tax obligations and make your retirement income last longer.
Part of our advice is to help you find the most efficient way of paying off your mortgage and other debts, that way you can truly enjoy your retirement without having any debt-related worries.
We offer the first consultation free to ensure that you have all the information you need to
better understand your options before deciding if our services are the right fit for you.
It depends on each person's individual circumstances as to how much you will need to retire. A comfortable retirement would be $60,000 p.a. for a couple who already own their home, but it depends on what your lifestyle is.
Superannuation is rarely sufficient to fund retirement on its own. Its recommended that one has investments or assets in their name as well as their super. If you have sufficient assets, you won't have access to the pension. For some Australians, the pension makes part of that income.
Retirement will be quite hard. Options you have are downsizing, or utilising your superannuation to pay off your house, or selling assets you have to pay it off. You would unfortunately rely more on the pension in this circumstance. A financial planner would be beneficial to help avoid this.
You're able to access it at preservation age, which is between 55-57, depending when you were born. Most people continue to work, it does have tax implications if you touch it before you're 60.
As long as you are legally retired, you can take your superannuation out tax-free after the age of 60.
The best way would be to seek financial planning by talking to an adviser. Every situation is different, which is why financial advice is vital, especially to help create a plan to utilise your assets as best as possible
The answer varies between different people and their circumstances. You can retire whenever you have enough money to retire.
There is no age limit for when you should start planning for retirement. Realistically, you should start as soon as possible, as soon as you're earning income. It is never too late to start planning either, there is always something you can do to help boost your super.
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