As you get closer to retirement your goals tend to change along with your financial circumstances, the kids are leaving home or at least you’re not paying their school fees anymore, your mortgage should be getting a lot smaller and hopefully you are well on the way to having a substantial retirement nest egg. At this stage in your life it is a good idea to see a financial advisor on a regular basis to ensure your financial strategies are keeping up with your financial position.
Protecting your Lifestyle
As you get older a range of issues begin to surface that you may not have previously thought of things like pensions, health issues and the mental wellbeing of you and your partner. It is important you begin to plan for these often new and unforseen circumstances before they occur to ensure you reduce any adverse financial impacts on you and your family.
Ensuring that your money is working for you is important at every stage of life. It becomes crucial as you are approaching retirements as well as when you retire, as you need that money to support you through retirement. As a general rule we believe it is essential to review (or set up) your retirement plan once your turn 55 and ideally every year or two from that point onwards.
Self Managed Super
More and more people are turning to a self managed super fund (SMSF) as a way to take control of their retirement nest egg and often cut costs in the process. We love working with self managed super and can give you advice every step of the way from setting up your SMSF, daily administration, periodic investment reviews and even setting up a pension within your SMSF once you reach retirement.