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Retirement Planning

2011 a good year for personal planning

Being the start of a new year, it is a useful time to start thinking about what you can change this year to start improving your financial situation, and where you want to be in ten years time.

Following is a list of the sort of areas that could be considered:

• Review/update wills and powers of attorney. Those who don’t have wills should consider putting one in place, particularly if they have dependants or own major assets.

• Will your retirement savings be adequate? Even if your retirement is some way off, the sooner you start thinking about it, the better.

• Review mix and performance of investments – including those in superannuation.

• Review this year’s changes to superannuation rules to make sure you are complying.

• Check insurance cover and needs, and update as necessary – particularly important for selfemployed people, and sole income earners in the family.

• Set a budget for next year – which also takes into account where you want to be in five years time.

• List your personal circumstances and expectations to see what other issues should be considered.

Make an appointment with Paul Baggetta, a Taxation Accountant & Financial Planner for over 30 years, to help you put a plan in place.  Phone 9317 7300.

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The information provided on this website is for general guidance only and is no substitute for professional advice. It should not be used as a substitute for legal, business, accounting, tax, financial planning or other professional advice.