Release the Mental Stress - Prepare for Retirement
Retirement is not necessarily quitting work and leaving the workforce. We like to define retirement as "the ability to do what you want, when you want financially." Many of our clients continue to work, but know they could stop at any time any live comfortably off the passive incomes from the investments they've accumulated
It is never too early to think about retirement
When you approach retirement, you begin to think about what you will do with all your free time. Go on holidays, tick boxes on your bucket list, learn to play an instrument because you never found the time before, or maybe keep working as you need to maintain social contact.
However, one thing to keep in mind is that retirement is like being on a weekend all year long. What happens most of your weekends? You spend money that you earned during the week.
Planning ahead will help you cover any unexpected expenses and assist you in achieving all your goals. If you have more money than you can spend in retirement, that’s always a good thing for your children.
We also work with clients to get the timing right - why work until you're 80 if you could have retired at 55 with sufficient capital for the rest of your life?
Aged care is also important, so making sure there is a buffer to cover costs as we get older is important.
As is estate planning, making sure there is a clear plan in place, which starts with a Will (but goes much deeper than that) to ensure your loved ones inherit your assets in the manner you want, with as little tax taken as possible.
