Retirement Planning & Advice

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Retirement Planning & Advice.

Retirement is a time to enjoy the fruits of a well-designed life. Retirement planning can seem a bit daunting. It may also seem irrelevant when you're in your 30's and 40's. The reality is, the retirement of your dreams must be planned sooner rather than later.

We’re here to guide you through all that wordy retirement terminology and to work with you to create a strategy to confidently live the retirement life you have imagined. Let’s make this a reality and start now.

What does my retirement look like and how much money will I need?

Everyone has a different picture of their retirement. According to the Association of Superannuation Funds of Australia’s Retirement Standard, to have a ‘comfortable’ retirement, single people will need $545,000 in retirement savings, and couples will need $640,000. Consider the following questions to help you to start gaining a better understanding of the cost of your retirement lifestyle:

Where you will live?
Do you want to upgrade or downsize your home?
Do you want to move to a different city or country?
Do you want to travel? Overseas or within the country?
What leisure activities would you like to do from day to day? For example, dining out, going to the theatre and participating in physical activities such as golf, yoga or tennis.

How long does my retirement funding need to last for?

The average life expectancy in Australia is between 80 to 85 years of age. Based on this and if you wish to retire at 65, you'll need to plan for approximately 20 years to support a comfortable life without a regular income from work.

What are my expenses going to be like at retirement?

When you stop working, you will need to factor in the following into your retirement savings:

Will there be any outstanding debts or mortgage to repay?
Will you have to pay rent?
Are there any ongoing health complications which you will need to account for?
Do you want to leave an inheritance for your family?

Live the life you imagine.

At Smart Private Wealth we're here to ensure you're well prepared to live a lifestyle you love.

Our financial advisors can help to guide you through this process and ensure peace of mind when planning for the future – regardless of what stage in your working life you’re at.

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