Planning for Retirement

Financial goals are just as important when you retire as earlier in your career. Retirement is a major turning point in your finances, when you’re no longer receiving a regular income, so you need to plan ahead and get your finances sorted out, long before it’s time to accept the watch. (Why do they give you a watch when you retire, when it’s the first time in your career you don’t really care what time it is?)

Super Superannuation Tips

Since the government’s new superannuation regulations came into effect on July 1, 2005, you have greater flexibility to move your superannuation around and create more wealth. You also have the means to be more confused than ever about what financial decisions will be best for your retirement. There are many different alternatives available, but the most important thing to remember is that some decisions you make regarding your super can’t be reversed; so, the best bet is to leave your super where it is until you’re very sure about which option is best. Learn the details of the fund you already have, before you start shopping around for available plans. Need more income advice? LifeBrokers can help give you the most up to date income protection advice for your supperannuation fund. Find out more about income protection online at LifeBrokers.

Financial Advice

You may need to get professional retirement advice from a financial planner, especially if you don’t have a lot of experience in this field. Make sure that if you do, you only employ the services of a licensed financial planner, and one who is qualified (or even better specialises) in retirement. You need to consider how you will interview the advisor (meet with the advisor, not with a junior), and how to compare costs (choose a round sum, say $100,000, and ask various advisors for an estimated cost of investing that amount).