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Pre-retirees

Get expert advice on how to maximise your savings and superannuation to fund the lifestyle you want to live in retirement.

Elliot Watson Financial Planning
Pre-retirees

Achieve peace of mind knowing how you will support your lifestyle in retirement

Getting expert advice at the right time is vital to achieving the retirement lifestyle you want. The longer you have to plan for retirement, the earlier compounding interest can work for you and the more choices and investment options you have. In a perfect world you would have already been receiving financial advice since your 30s and planning for retirement from then, but the reality is there are many other priorities in people’s lives during this time and superannuation usually gets pushed down the list.

The ‘pre-retiree’ window of opportunity is an important time to get financial advice. The pre-retiree life stage is generally those in their early 50s whose children are getting older and moving on. It is a time when many have more disposable income and turn their thoughts from providing for their kids, to how they will provide for themselves in retirement. Receiving financial advice at this time can help you to maximise your retirement savings, therefore giving you more options for the lifestyle you want to live in retirement.

It is a time when it is important to receive sound advice on:

Live the life you want in retirement

Our advisers can work with you to help you understand where you currently are (how much you currently have available to fund your retirement) and where you need to be (how much you need to have saved to fund the retirement lifestyle you want to live). They can then help develop a plan to make sure the two align.

Use our online calculator to estimate how much money you will have to fund your retirement lifestyle.

Our expert advisers will listen to your retirement goals and help:

Tailor a plan to maximise your retirement savings
Develop a transition to retirement plan (if working less days a week is a priority for you)
Ensure the tax effectiveness of your investments
Advise on how to structure your assets to maximise Centrelink benefits
Help with budgeting and cashflow (if required)
Review your personal insurance needs
Discuss estate planning

They will provide you with peace of mind that you have a plan for supporting yourself in retirement.

Pre-retirement planning

You have worked hard for many years and retirement is on the horizon, however, because compulsory superannuation did not commence for some time after you turned 18 and you have spent most of your working life raising a family and paying off a mortgage, your superannuation is far lower than ideal.

Now is the time to act, there are many strategies available to support you but time is of the essence.

Case Study

Most people in their mid-50’s have been working since reaching age 16 to 20. Generally, they have raised a family and the children have left home to start their own careers. From time to time they do require the support of Mum and Dad but it is becoming less and less.

As people, in this age group, approach retirement, they start to think about the lifestyle they would like to enjoy during those years and whether their superannuation is adequate to fund their retirement.

Goals

Payout Mortgage.
Travel both domestically and overseas now and in retirement.
Build up Superannuation.
Retire no later than 65 and most importantly maintain lifestyle at retirement.

How Did Elliot Watson Financial Planning Help?

We analysed the client’s present circumstances and identified the ongoing financial objectives needed to reach their goals. We then developed and put in place the essential wealth building strategies to achieve the desired outcome for retirement.  In doing so we identified significant tax benefits that would have otherwise been lost.

The strategic direction allowed sufficient allocation of funds for wealth creation while maintaining the clients’ lifestyle.

The process included a review of both their superannuation funds, estate planning needs and wills.

Value of Advice

By implementing retirement accumulation strategies, we significantly reduced the clients’ annual income tax liability and significantly increased their potential to grow  retirement savings.

The financial and investment strategies put in place allowed the clients to accumulate the necessary wealth to fund their retirement lifestyle.

As a result, they regularly travel and enjoy life to the fullest.

The estate planning strategies will allow the retirement assets to be distributed in accordance with both clients wishes.

Testimonial

We knew we were behind with our retirement savings but with Elliot Watson Financial Planning’s help things are looking good, we are excited and very much looking forward to retirement knowing that we can do all the things that we have been talking about for so long. The only other thing we need is grandchildren!

Pre-retirees
Elliot Watson Financial Planning
"We are excited and very much looking forward to retirement knowing that we can do all the things that we have been talking about for so long.”
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