Retirement Planning
Retirement is a time of life for you to relax and do the things you have always wanted to do. Therefore, careful planning can help ensure you are financially comfortable. Prior to retirement, there are some important questions you need to ask yourself, including:
- What do I want to do in retirement?
- How much money will I need to do it?
- Do I need a regular income?
- Where will this income come from?
- When can I retire?
- How and when will I be able to access my super?
- What Government support will I be eligible to receive?
Planning ahead can assist you in making the most of what you have and help you achieve financial security, reduce uncertainty and enjoy your retirement.
There are many different options available to help fund your retirement. These include taking your super as a cash lump sum, purchasing an income stream product to give you a regular income or a c ombination of both.
A regular income in retirementh
Account-based pensions
An allocated pension is purchased with super monies and provides a flexible, tax-effective, regular retirement income stream. It is not guaranteed, however the payments are flexible and can be any amount over the minimum limits set by the Government. Any capital remaining upon death is distributed to your estate or dependants.
