Freecall 1800 025 241

MON - FRI 8:30AM - 5PM (NSW TIME)

Planning Ahead For Your Desired Retirement

As a hard working Australian, you are looking forward to retiring and putting your feet up.  But how you are going to finance your lifestyle after you retire?  What type of retirement lifestyle do you want?  Do you dream of travelling the world, or just want the assurance that you won’t need to worry about financial constraints while tending to your garden?  Research has answers for both these lifestyles and anything in between. One thing is for certain though; you need proper planning to achieve either.

If you desire to live large during your retirement, you may need up to $1 million to finance your lifestyle. Getting there will require more than the Age Pension. You will need to consider additional strategies like boosting your super savings or extra investment.

If you would just like to guarantee good health and a home, the Association of Superannuation Funds of Australia suggests you will need an annual income of more than $34,000 for a couple. You would need at least $60,000 a year as a couple for basic luxuries like occasional travel and a reasonable car.

Relying on the Age Pension as your main income source for retirement would stretch you very thin.

Our free super calculators can help you work out how much super you need for your desired lifestyle in retirement.

With these approximates and the type of retirement you want in mind, how do you then ensure that you have enough to retire?

  • Take control of your finances.  Work out how much money you have now, how much you might have in the future and where it will come from.
  • Get some professional advice promptly and make a long-term financial plan. Think about how you can use your different income sources to fund the different stages of your life.
  • Find ways to grow your retirement savings, such as diversifying your investments, boosting your super savings, and managing your spending.  

Do you need help planning for your retirement?  Want to find out ways you can boost your super savings? Contact us today – we are here to help!

 

 

Woman saving money in a piggybank - representing making extra contributions to her superannuation

How To Boost Your Super

Your superannuation is a key investment when it comes to saving for your retirement, and there are ways you can boost these savings. Your employer will contribute an amount equal to 9.5% of your salary into your super, and you may also contribute additional money as Concessional Contributions or Non-Concessional Contributions. Find out more.

Keep Reading

wedding couple at night with lighting and cafe in background

How Life Events Affect My Super

Life changes that can affect your super include a variety of events that most people will encounter at some point in their lives. Some of these types of events include starting a job, getting married, buying a home, having children, getting a tax refund or an inheritance, getting a separation or divorce, the death of a spouse, having an illness, redundancy, or losing a job. Learn more.

Keep Reading

Retired man drinking a coffee

What is the Age Pension?

The Age Pension is a government income support payment paid to eligible Australians who have reached Age Pension age.  The Age Pension is income and assets tested which means the amount you can get will depend on any other income you receive (from super, investments and paid work) and on the assets you own. Learn more.

Keep Reading

Young woman with a piggy bank, representing savings and superannuation for retirement

Planning Ahead For Your Desired Retirement

If you desire to live large during your retirement, you may need up to $1 million to finance your lifestyle. Getting there will require more than the Age Pension. You will need to consider additional strategies like boosting your super savings or extra investment. Learn more.

Keep Reading

Before you leave...
Are you a small business owner?
Submit your email address to receive a FREE Website Marketing Report, and tips to help you manage your business.
SUBMIT