Transition to Retirement

Life speeds by so fast! It is hard to believe that after a life time of building a career and working you are reaching an age to start thinking about retirement. 

One strategy worth considering is a Transition to Retirement strategy.  This financial strategy allows you to work less at the same income or to work the same hours and increase your super for retirement.

Transition to Retirement is a tax effective strategy that can help boost your retirement income without the need to change your lifestyle.  Importantly, this increase comes from using tax savings, rather than relying on investment returns.  This means you can put some of the money that you would have otherwise paid in tax, straight into your super to benefit you now and into the future.

Why would you do this?  There are 3 main benefits:

  1. Boost your super/retirement savings

  2. Pay less tax

  3. Ease into retirement - you can reduce your work hours and still maintain your lifestyle

 

Common questions to consider:

  • When do I want to retire?

  • How much is enough and how will I generate that money?

  • Will I be able to live on the age pension?

  • Will my money run out?

  • What assets will I leave to my children?

We can help by:

  • Helping you understand how much money you will need in retirement

  • Reviewing your current financial positioning and setting a plan in place to ensure you can live the retirement lifestyle you expect

  • Review the performance of your current super fund in relation to your goals

  • Making recommendations based on your goals and in relation to your transition to retirement strategy.

  • Providing information on the age pension

  • Providing support services for Centrelink

 

 

 

 

Disclaimer:

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

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