There will be a point in your future where it comes the time to hang up the work boots and transition into retirement life. This is a time to celebrate all your hard work over the years with confidence, knowing you have proactively planned this phase of your life.
The most important consideration in retirement planning is defining your after work income target to meet your intended lifestyle goals. Importantly, the transition to retirement may actually be a period of years, which means having an understanding of superannuation regulations an options for drawings.
Maximising income from assets to replace employer remuneration appears a simple scenario, but it does take some careful pre-planning and consideration, which many of us avoid. Understanding how to structure your portfolio to ensure asset protection (helps insulate assets legally to avoid creditors’ access) can make the difference to the comfort of your retirement years. Don’t forget, as you make changes to your retirement strategy it is important to review your estate planning to make sure they are aligned.
Loan Studio Financial Advisor, Brendon Honeyford can discuss solutions to suit your individual retirement situation, whether that be a set and forget plan, or an involved self managed super fund, to set your path for a financially comfortable retirement. It’s never too early to start planning, check our hand information When Should I Start Planning For Retirement?
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When Should I Start Planning Retirement?
