Planning for Retirement

At Precision Wealth Management, we provide high quality, specialised, independent financial advice for those approaching or starting to think about retirement. There are many important things to consider when approaching retirement. The following are the key things to consider for those planning for retirement:

• Budgeting and cash flow management – As always, this is a vital step in any quality wealth management advice process. When developing a plan for retirement, clients are often asked how much money they want per annum in retirement and are expected to give the financial advisor a number. However, most people don’t really know how much they are currently spending or have given any thought to how much it would actually cost to enjoy the type of lifestyle they would like in retirement. At Precision Wealth Management, we spend time to ensure these types of things are discussed so your retirement plan is actually working towards the lifestyle you want.

• Superannuation – Superannuation is core to any retirement plan and it is therefore important to ensure your superannuation fund is appropriate for you. It is also important to ensure you have an appropriate strategy for your superannuation to maximise your retirement savings in the most tax efficient manner.

• Personal insurance – Often this is neglected at this stage of life because you no longer have young children or a mortgage, however your retirement plan is still dependent on your ability to earn your income through to your retirement. Often personal insurance becomes more expensive as you get older, however this is because the risk is increased that you'll need it. As we rebate the commissions on personal insurances, this can help to reduce the premiums and make them affordable.

Contact Us to discuss how we can help you plan for your retirement.