Retirement

Thinking About Retirement?

Retire on your own terms

If you haven’t thought about your retirement yet, maybe it’s time that you did. The earlier you start planning for it, the more likely you are to achieve your retirement goals.

Retirement can mean different things to different people. It might not mean actually stopping work. Retirement planning might mean being in a position to stop work if it suits you. Or it might mean reducing your work hours initially before finishing work altogether.

We call it, retiring on your own terms.

To find out how we can help you, contact our office today or watch our video below.

Couple Doing Family Budgeting — Financial Planner in Winnellie, NT

Frequently Asked Questions

What are the biggest mistakes people make when planning for retirement?
Some of the common mistakes people make when planning for their retirement can include:
- Not starting a plan early enough
- Not taking full advantage of the benefits of superannuation
- Not understanding what your money is being spent on
- Entering retirement with too much debt
For retirement planning advice, contact your local financial adviser.
How much money do I need to retire?

Among other things, it depends on your expenses in retirement, so being aware of your expenses is really important. Preparing a budget is the best strategy. You can download our Personal Expenses spreadsheet here.

There is also some detailed information publicly available at:

https://www.superannuation.asn.au/resources/retirement-standard

Qualifying for the Age Pension can fund some of these expenses, so you need to know what your entitlement is likely to be. Your income and assets will be assessed by Centrelink and you could qualify for a full pension, a part pension – or none at all.

If there is a gap between your pension entitlements and your spending, you will obviously need to fund the shortfall yourself from your superannuation or other investments.

The best approach to retirement is to start planning now.