The Pre-Retirement Phase
(For the Baby Boomers & early Gen X's)
By this stage you have spent a good deal of your life working and hopefully accumulating a good deal of wealth. Maybe you haven't really thought about where to put that money?
One of the biggest conerns for people leading up to retirement is knowing 'how much is enough' when it comes to retirement? While it is good to know an approximate figure, it will certainly be different for everyone especially for those people who may have been accustomed to an extravegant lifestyle.
There are a number of financial planning strategies which can be implemented as a prepareation for retirement. What suits your financial situation will not necessarily be right for someone else, which is why it is important to seek professional financial advice.
Options to consider when planning for retirement include (but aren't limited to the following);
Benchmark Consultants can help you to prepare for retirement by assessing your financial situation and structuring a financial plan to help you acheive the retirement you want.
How much money have you saved in your Superannuation?
Preparing for retirement means putting money aside for a time in your life when you are no longer working full time. However you will still need money to live off, and that means saving. Gradually the Aged Pension is being phased out and people can no longer simply rely on that as being a suitable option for the long term. You need to be putting money into a Superannuation account.
So how much should you save, and can you put money aside in addition to the standard government required SGC contribution? Of course you can. We can help you with figuring out how much you need to be putting aside in order for you to comfortably retire.
Find out more information on Self Managed Superannuation Funds here.
To make an appointment with a Certified Financial Planner call Benchmark Consultants on 9293 2922.