Do you think you are too young to start planning for your future?
Thanks to our high standard of living and medical advances, Australians are living longer than ever before. A male retiring at age 60 will likely spend around 22 years in retirement and a female 26 years*. While this is good news, being able to enjoy such a lengthy retirement may cost more than you think.
According to the Association of Superannuation Funds of Australia (ASFA), an individual seeking a comfortable lifestyle needs a yearly income of $40,297 (after tax) ^. That requires savings of $533,088 at retirement to provide this level of income for the next 20 years+.
Have you considered how much you will need to live the life you want?
When we draw up a plan, we conduct in-depth analysis to learn about you and understand your current situation and goals so we can present you with the most appropriate options to suit you in retirement.
We get to know you and your vision of how you see yourself in retirement. How old will you be? How much will you need in super so you can maintain your standard of living? We make sure we get to know you so we recommend the types of investments and risks you are comfortable with.
Whether you are approaching retirement or still years away, it’s important that you understand all of the options available to suit you and your ideal retirement such as:
- transition to retirement strategies
- boosting your super
- allocated pension
- personal insurance requirements
- tax-effective strategies
- annuities and
- estate planning.
Start a Plan for your Financial Freedom now
A Wise Advice we can help you to be ready so you are able to look forward to your retirement.
To find out how we can help you safeguard your financial future, call 1800GOWISE –
02 9524 4224 or email us.
*Australian Government Actuary, Australian Life tables 2005-07.
^Westpac ASFA Retirement Standard, Comfortable lifestyle, Single March
+Colonial First State. May 2012. Assumptions earnings 7.7% with inflation at 3% paid via an indexed pension and net of all fees and taxes.