When you’re busy enjoying life, retirement can seem a long way off. But with Australians living longer and staying more active in retirement than ever before, your retirement lifestyle is not something to be left to chance.
A holistic approach
Your adviser will take takes a holistic approach to retirement planning, with a personalised retirement plan designed to help you enjoy the retirement lifestyle you’ve been looking forward to. Your plan covers every aspect of your financial life, including risk protection and estate planning, so you can be confident that your family’s future is secure.
We develop your plan using a disciplined process, founded on a thorough understanding of your situation and aspirations:
1. Defining the scope of engagement
In our first meeting we will explain the process that we will follow, find out your needs and make sure they can meet them. We will also talk you through our background as financial advisers and our fee structure.
2. Identifying your goals
Next, we build on our understanding and work with you to identify your short and long term financial goals – this stage serves as a foundation for developing your plan.
3. Assessing your financial situation
Once we have identified your short and long term goals, we then take a good look at your position – your assets, liabilities, insurance coverage and investment or tax strategies.
4. Preparing your financial plan
Once we have a clear understanding of your individual goals and your financial situation, we will then recommend suitable strategies, products and services, and answers any questions you have.
5. Implementing recommendations
Once you’re ready to go ahead, your financial plan will be put into action; where appropriate, we may work with specialist professionals, such as an accountant or solicitor as identified.
6. Reviewing the plan
Your circumstances, lifestyle and financial goals are likely to change over time, so it’s important your financial plan is regularly reviewed, to make sure you keep on track.
Retirement planning strategies
Here are some of the retirement planning strategies we may help you explore, depending on your individual situation:
- Salary sacrifice. Making pre-tax contributions through salary sacrifice provides the dual benefit of reducing your taxable income and maximising your super contributions. For someone in the highest tax bracket, that can provide an upfront tax break of 31.5%. And because earnings within super are taxed at a maximum of 15%, you’ll also build more wealth over time than in a comparable non-super investment.
- Contribution splitting. For couples where there is a considerable difference in earnings, there can be a significant tax benefit in diverting extra super contributions to the lower-paid partner’s account.
- Self-managed superannuation. If you are looking for greater investment choice and control, a self-managed superannuation fund (SMSF) can be an attractive choice. We’ll help you manage the complexities of setting up and administering your own fund, developing a personalised investment strategy that maximises your opportunities, while keeping risk under control. For more details see our Self-managed superannuation page.
- Retirement income streams. Once you’ve stopped working, the right choice of retirement income stream is essential to fund your retirement lifestyle over the long term. We can help you select the best option for your personal situation, then structure your income to support your changing circumstances.
- Wills and estate planning. We can help you explore options for transferring wealth effectively to leave a lasting legacy for your family, including testamentary and family trusts.