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Planning For Retirement

Phase 1 - It’s getting closer, but you are not there yet

When you reach 50 years of age or are 15 years away from retiring – whichever happens first – and you are still in your most productive earning years, is called your ‘pre-retirement’ phase of life and is a critical time in your planning for retirement. What you do during this time can make a huge difference to the quality of your life in retirement and leave you feeling confident that you are financially prepared. It is a time to set in place goals and strategies that will give you the best possible retirement lifestyle, no matter what your super balance looks like.

The significant governance changes to retirement over the last few decades in Australia has seen an ongoing change from institution-funded to self-funded retirement, constituting a dramatic shift in responsibility where in the future you will have to plan and save for your own retirement.

So it’s important to start planning your retirement now by developing a retirement plan specifically for you, based on the retirement lifestyle you have always dreamed of, with a proven pathway to get you there.

How to plan for your retirement

Once you have retired, it really is too late to make important decisions that should have been made whilst you were still working and in a financial position to take action. Talking to a licensed financial
advisor, backed by years of experience, is a helpful place to start, for the advice that you will need to
help you develop a plan created specifically for you based on the retirement lifestyle you have always dreamed of.

Retirement planning is easiest when you have a definitive financial figure that you can keep at front of mind and work towards. Accurate retirement spending goals help in planning for retirement because more spending the future requires additional savings today. The longevity of your retirement portfolio is, in the most part, determined by your withdrawal rate, so having an accurate estimate of what your annual expenses will be in retirement will determine how much you can withdraw each year and how you invest your portfolio. If you understate your expenses you easily outlive your portfolio, but if you overstate your expenses may not be able to live the retirement lifestyle you’ve always dreamed of.

Knowing where you stand financially and the goals you would like to achieve will make planning for retirement much easier. 

For most Australians, your superannuation will be an essential element of your retirement income and this retirement planning calculator from ASIC will, based on your current financial circumstances, provide you with a general view of what your future retirement income may be.

At Baggetta & Co, our retirement planning process is a multistep process that evolves over a period of time. In our retirement planning process we start by helping you define your retirement goals and how long you have to meet them. Then we will help you develop and implement the strategies and investments that will get you there.

One of the most challenging aspects of creating a comprehensive retirement plan is to strike a
balance between realistic return expectations and a desired standard of living. Our focus on creating
a flexible portfolio that can be updated regularly to reflect changing market conditions and retirement objectives is our best solution.

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For more information about the services we provide, or to find out if you are eligible for a free no-obligation consultation contact us today.

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Don’t lose another minute, day, month or year and start planning your most rewarding and enjoyable retirement lifestyle today.  Call us on 9317 7300.  We can help you get there.

If you are reading this, you should start planning your retirement

The sooner you start your retirement plan with an experience and licensed Financial Planner, the sooner you will have set in place investment strategies that will give you maximum potential to grow your nest egg to its’ maximum potential. If you and your Advisor determine you will not have enough at retirement and need to implement strategies to build your retirement nest egg in the meantime, then the more time you have the less risky strategies your investment portfolio will need to adopt to get you there.

The more time you have between now and your planned retirement date means more time to achieve your most comfortable and secure lifestyle in retirement.

At Baggetta & Co, our retirement plan include:

  • A clear description of what is truly important to you
  • How you can control your finances to ensure you reach your personal life goals
  • A concise step-by-step approach to achieve your personal and financial objectives
  • A disciplined, proactive and ongoing review process leading up to retirement to keep you on track to achieve your financial goals for retirement living.

Baggetta & Co’s retirement planning process also covers the following areas:

  • Superannuation Assets (including Self Managed Super Funds)
  • Non-superannuation Assets
  • Contribution rules
  • Transition to Retirement
  • Superannuation pension
  • Age pension
  • Investment management
  • Aged care

Are you ready to start Planning for your Retirement?

With a solid understanding of your current financial situation and a clear vision of where you want to end up in retirement, you can accelerate your plan in order to reach your goals.

Now is the time to commit to planning your retirement, as these are the years that really count.

We at Baggetta & Co are here to help you.  If you would like to sit down and have someone discuss your personal financial goals with you and help you make a plan, call us on 9317 7300 or make an appointment. 

The next step is up to you.

Free Consultation?

For more information about the services we provide, or to find out if you are eligible for a free no-obligation consultation contact us today.

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