Time to Start Planning Your Retirement



Time to Start Planning Your Retirement

How can we help in your Retirement?

Here we look at how you can maximise your income in retirement, whether you’re:


a long way off retirement


close to retirement or


already retired.


 Retirement still more than 10 years away

Retirement can seem irrelevant when you’re in your 30s or 40s. There are so many other things you can do with your money – go overseas, buy a house, raise a family, or just have fun.

However, according to research by the Investment and Financial Services Association (IFSA)1, the Age Pension won’t be nearly enough to fund the lifestyle we’d like when we’re no longer working. So the best thing to do is to start saving now.


Some questions you may wish to consider:

How much do I need to retire on?
What is the best way of funding my retirement?
Is my superannuation enough to fund my retirement?
What is salary sacrifice?
How much should I be contributing now for a comfortable retirement
Why are women recommended to make higher extra super contributions than men?
My super is sitting in a few different funds. Is it worth moving it?


How we can help? We can:

Conduct a complete review of your financial situation
Recommend strategies to meet your retirement lifestyle goals.
Work with you to develop a new budget and investment plan to achieve your short-term and long term goals
Review and recommend wealth protection plans
Help you create or update your will


 Retiring within the next 5 – 10 years

The combined effect of earlier retirement and living longer means that many Australians will spend more than a quarter of their life in retirement. While this sounds like good news, it does emphasise the importance of planning carefully – and well in advance – for your retirement.


Some questions you may wish to consider include:•

How much do I need to retire on?
When can I access my super?
What are my options when I retire?
Will I pay tax on my super if I take a lump sum?
Am I eligible for the Age Pension?
How does the Income and asset tests affect eligibility for the Age Pension?
What are the different types of income streams?


How we can help ? We can:

Establish how much you need and work out when you can retire based on your plans.
Establish a plan to accumulate enough retirement savings within your timeframe.
Review and recommend retirement income products so you can manage your money in retirement
Make sure you can maximise any entitlements to social security benefits.
Make sure you are not under insured.
Help you create or update your will


 Already retired

Have you reached your retirement age yet you feel you’re not yet ready to give up work altogether? If you’re eligible for the Age Pension, the government offers incentives for working people to defer claiming it.

On the other hand, if you’ve independently funded your retirement, you may benefit from keeping track of, or restructuring, your finances so you can maximise any government entitlement.


Some questions you may wish to consider include:

I’ve already retired. Isn’t it just about living off what I’ve got now?
I have been retired for two years. Is it too late to change my financial arrangements?
Apart from social security benefits, are we eligible for anything else now we’ve retired?
Now we’ve retired should we move house?


How we can help? We can:

Monitor your investments and retirement income.
Provide regular updates about social security changes that might affect you.


Want to know more. 

If you need help with personalised advice on financial planning, be it wealth strategies or protection for you or your family, or a need to discuss your present or future retirement options give us a call today on 03 6343 1007.  


Alternatively send us a message or simply book an appointment now with one of our qualified financial planners on our online booking service at a mutually acceptable time.



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FinancialPartners (Tas) Pty Ltd ABN 26 160 284 739 is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706.


‘This blog post contains information that is general in nature. It does not not take into account the objectives, financial situation or needs of any particular person.  Because of this, before acting on any advice, you need to consider your financial situation and needs before making any decisions based on this information.


 You should consult a financial planner to consider how appropriate the advice is to your objectives, financial situation and needs.

 If you decide to purchase or vary a financial product, your financial adviser, AMP Financial Planning and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/ or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.


Time to start planning your Retirement





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