Wealth Consolidation & Saving for Retirement (50 – 60’s)

It’s a new era of financial maturity. Your focus returns to yourself, and possibly your partner, as you begin to consolidate your wealth and structure your finances to ensure your financial stability for years of life with no income. With 10 to 20 earning years remaining, this is your best opportunity to prepare intensely to secure a good retirement lifestyle for yourself and your loved ones.

Financially speaking, transitioning into retirement means different things to different people, and a myriad of options are available, so it’s important to find the right solution for your needs. As your earning years draw to an end, you want to make the most of every dollar.

Your financial objectives may include:

• Maximising your earnings and savings, and implementing smart strategies to minimise tax
• Estate and inheritance planning, and revising your will
• Cutting down on expenses and simplifying your life
• Buying a caravan and doing more traveling
• Providing financial assistance and support to you children
• Making a succession plan for your business
• Planning for your medical needs, healthcare and death

One of the biggest unknowns when planning for retirement is how long you will need retirement income for. On average, Australians will spend between 20 to 30 years in retirement, but there’s also a good likelihood that you will live beyond life expectancy, which can make it difficult to plan. The ability to enjoy all those years in retirement has a lot to do with the amount of retirement savings a person has.

Good choices made at this stage will directly impact your retirement lifestyle, so let’s make it happen! Our experienced advisers can help you understand your financial direction and put together a tailored strategy that bridges where you are now with where you want to go.

Contact us today for more information.

Further reading

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