Australia now has an average retirement age of 58, with the average life expectancy hitting 82*. This means the average Australian will have almost 25 years of their life to fund after they have retired from working. How prepared are you for financing the retirement lifestyle you had in mind for this period of time? Do you need wealth management strategies to help achieve your retirement objectives?
It is never too early to start your financial planning for life after work – but it can be too late. MyState Wealth Management’s team of financial planning experts recommend starting this process at least 15 years out from your planned retirement age.
This will put you in the best position to have the mortgage paid off, and enough time for your financial investments to create the retirement income you need.
For those of you who are closer to retirement and want to maintain your current lifestyle after you have finished work, MyState’s Wealth Management experts can assist you to look at the various options available to you.
Some common considerations
- Are you going to work part-time?
- Should you convert superannuation to a retirement income stream?
- How should you structure tax minimisation?
- Are you entitled to Centrelink benefits?
- How do you get a health care card?
Our Expertise
MyState Wealth Management provides you with expert financial planning advice, peace of mind, practical solutions and the focus to plan for a financially secure retirement.
We’ll address your current position, the reality of your income vs. your lifestyle, and how to maximise any entitlements – while delivering a cost-effective financial planning platform. We will also maintain regular contact with you to ensure your financial plan stays on track with identified timeframes and outcomes to meet your financial goals.
Find out more
To find out more about financial planning for retirement, make an appointment with a MyState Wealth Management Financial Planner today or call us on 1300 651 600.
Read more about our Financial Planning process.
Read more about our Financial Planning team
*(Source: http://www.probonoaustralia.com.au/news/2010/10/baby-boomers-golden-age-volunteering%E2%80%9D. Posted Wednesday, October 27, 2010 - 11:50)