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Retirement with intent

The idea of retirement is often depicted with images of leisurely walks by the beach or sitting on benches staring out to the horizon. But many of us are not ready to hang up our boots. Instead, we want to do retirement on our own terms, and make the next 20 years of life, the best yet.

Having a great start to your retirement is an exercise in planning and execution. The planning phase leading up to retirement is an opportunity to get your financial affairs in order, so you can look at retirement as an exciting phase.

Having a well thought out investment strategy can go a long way in helping you generate the income needed to live above the pension line. At Advantage First, we can help you with planning for your retirement using simple strategies that can potentially give you a fresh perspective.

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Nguyen and Geoff

Let’s look at a hypothetical scenario involving 2 different people (let’s call them Nguyen and Geoff) who are approaching retirement.

Nguyen has been working hard all his life as a forklift operator and with 15 years to retirement, he has an epiphany. Rather than viewing the end of his working life as the end of the road, he sees of it as an opportunity to pursue his lifelong dream of sailing across to Singapore in a yacht.

With some professional help from a financial advisor, he puts in place an investment strategy to generate additional income that can be used to fund a year long trip where he will catch up with relatives as well as explore some of the sights along the way. Come retirement, Nguyen has enough set aside for his dream trip and he can’t wait.

In contrast, Geoff’s retirement plan is to rely solely on his superannuation. Although his home is paid off and he has a place to live, Geoff has not sought professional advice about his retirement needs and ends up with only enough superannuation to cover the first half of his retirement. As he nears retirement, he must now decide whether to keep working a bit longer or face a retirement that will not be financially comfortable.

Key insight

Retirement signals a new beginning. It literally is an opportunity to do things that you may not have considered possible. Planning for it is important and needs careful consideration. We strongly recommend that you seek professional financial advice as soon as you can to get you on the right path. Financial goals need to be realistic in order to be achievable – a financial adviser can help you identify your financial needs will be in retirement depending on your goals and other factors.

We can help you approach this exciting phase in a decisive and positive manner. Talk to us now!


General Advice Warning:
This material has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in this material is General Advice and does not take into account any individual investment objectives, financial situation or needs. Before making an investment decision based on this advice you should consider whether it is appropriate to your particular circumstances. Hypothetical scenarios are based on assumptions and are not guarantee of any outcome in the future. Where the General Advice relates to the acquisition or possible acquisition of a financial product, you should obtain a Product Disclosure Statement (“PDS”) relating to the product and consider the PDS before making any decision about whether to acquire the product.

Advantage First Financial Planning Pty Ltd is a Corporate Authorised Representative (No. 1000091) of IPraxis Pty Ltd (ABN 39 114 365 007), which is the owner of Australian Financial Service License No: 329337.

Other Advice Warning:
Before acting on any of the information presented here, please seek professional financial advice.

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