Retirement Planning

When it comes to retirement, you’re going to need to stick to a plan.

With life expectancy and lifestyle expectations on the increase, getting ready to step back from the workforce requires careful planning.

Jo Matthews, Financial adviser at Future Step, suggests that retirement planning should really start in the mid-40s.

“You can’t just pluck an age out of the air and set it as a hard date for retirement. The decisions you make now will have a huge impact on the quality of your retirement,” she says.

At Future Step, we have a step-by-step process for helping you kick back with peace of mind.

Retirement planning starts with looking at the whole picture… and the central message is: the earlier the better.

- Jo Matthews, Financial Adviser

Where we can assist

Retirement goals

Forget the Joneses. What do you want out of retirement? Answer that question, and the rest of the retirement planning will follow seamlessly. Some want champagne and others soda water; some want lacrosse and others lawn bowls. It all comes down to you. We will help you set and track your retirement goals.

Income projections

In retirement, your income comes from the value of your investments rather than the labour of your hands. We’ll help you plan a diversified range of investments and income streams to give you peace of mind in retirement.

Tapering off work

Patterns of work have changed significantly in the last decade and that trend is only set to continue. We’ll work with you to see if casual or part time work forms part of the first phase of retirement.

Debt reduction

We’ll look at your overall debt position and make a plan to reduce it before retirement.

Streams of income

We will help you understand the streams of income available to you from your investments and Government entitlements such as the pension and other benefits.

Tax effectiveness

There are favourable rules around transition to retirement within superannuation. We’ll help you understand the most tax effective way to enter retirement in the final years of your working life.

Centrelink entitlements and the aged pension

Retirement brings with it a full or part pension. But you can also access other government entitlements such as the Seniors Card.

Insurance

We’ll look at your overall insurance position to ensure that you are not over-insured in your retirement.

Estate planning

Preparing your wills and estate is one of the most important financial planning activities. We’ll show you the importance of having a will and structuring your estate for tax effectiveness and ensuring that your wishes are met after life.

Planning for big purchases

Making big purchases such as a new car in retirement require careful planning as you near the end of your working life. You don’t want to take out big chunks of your capital and sacrifice the potential of years of compounding ahead of you.

Planning for the stages of retirement

Retirement planning doesn’t stop when you collect your gold watch. Most people are likely to live another two or three decades and it’s important that your money lasts longer than you do. That’s why it’s important to plan for the three stages of retirement: active, settled and aged care.

Get in touch today to start looking at the whole picture.